Aer Lingus's defence document, published yesterday, shows recently appointed chairman Colm Barrington and chief financial officer Seán Coyle currently own no shares in the airline.
However, Mr Coyle, a former Ryanair executive hired by Aer Lingus in August, holds 17,164 share options with his former employer. While he owns no Aer Lingus stock, Mr Coyle has been awarded 152,709 shares under a long-term incentive plan dependent on certain performance targets being met by December 31st, 2010.
Details of Mr Coyle's remuneration were also revealed for the first time.
He is being paid a basic salary of €310,000 and is also eligible for an annual bonus of up to 100 per cent of this sum, depending on certain performance targets being met.
In addition, he is entitled to a pension contribution of 15 per cent of his annual salary and a car allowance of €32,500.
Mr Barrington, who became chairman on October 2nd, is being paid €175,000 annually, the same level as his predecessor, John Sharman.
Mr Mannion is currently being paid a salary of €440,000, a €32,500 car allowance, a bonus of up to 150 per cent of his salary, and a pension contribution of 25 per cent of his basic pay.
The document also shows former Aer Lingus director Seán FitzPatrick owned more than four times as many shares in Ryanair prior to his resignation from the board last week. He owns 38,500 Ryanair shares compared with 9,544 in Aer Lingus, according to the document.
Mr FitzPatrick was the senior independent director at Aer Lingus until last Thursday, when he quit Anglo Irish Bank and all other public company directorships in a controversy over €87 million in loans that he didn't disclose to the bank's shareholders.
Aer Lingus director Anne Mills is also a substantial shareholder in Ryanair. She owns 6,000 shares in the Michael O'Leary-led airline, compared with a holding of 8,942 in Aer Lingus.
Danuta Gray, the head of mobile phone group O2, holds the largest holding of any Aer Lingus non-executive director with 23,863 shares.
The document also shows that trade union leader David Begg, who represents the workers' Esot share trust, owns 500 shares, which he bought on June 16th at €1.58 apiece - a premium of just under 7 per cent to Aer Lingus's current share price.
