Hart was promoted to president from general counsel in 2020, but the CARES Act compensation limits were based on 2019 pay. His total compensation last year was estimated at $3.5 million, mostly long-term stock awards, which the company estimated was $4.6 million lower than it would have been without the CARES Act limits.
CARES Act restrictions expire in April. The first part of Hart’s new retention bonus vests next May.
Hart, who came to United from Sara Lee in 2010, was named president when Scott Kirby became CEO. The company said in a securities filing Friday that his retention bonus, approved by United’s board on Wednesday, reflects additional responsibilities since he became president, including airport operations, technical operations and flight operations.