May also be exclaimed "Executive!" - as in "look, I found executive parking".
Most likely used when in the car with friends and said in a sing-song voice ("e-XECU-tive"). Often said together as a group as you see the sweet parking spot (many times preceded by a conversation about if you're going to get executive parking)
Driver: "For sure, let me see if the spot is open up front"
Passanger 1, Driver, any other passangers: "ExECUtive!"
Passanger 1: "Bad ass dude, you got executive parking!"