AerSale Corp 8-K, filed Jun 13, 2024
AerSale Corp (ASLE)
About this 8-K
AerSale Corp filed this 8-K on June 13, 2024, reporting on events of June 7, 2024.
Items reported
- Item 5.02: Director or officer change, or executive pay
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CURRENT REPORT
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Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 7, 2024, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of AerSale Corporation (the “Company”) and the Board approved (i) for Nicolas Finazzo, the Company’s Chairman and Chief Executive Officer, an increase in his annual target equity incentive opportunity from 200% of base salary to 300% of base salary, and (ii) for Martin Garmendia, the Company’s Chief Financial Officer and Treasurer, an increase in his annual base salary from $400,000 to $425,000, an increase in his annual target cash bonus opportunity from 50% of base salary to 60% of base salary, and an increase in his annual target equity incentive opportunity from 95% of base salary to 100% of base salary, in each case effective as of June 7, 2024. The Committee and the Board further approved apportioning the annual target equity incentive opportunity for each of Messrs. Finazzo and Garmendia as follows: 50% in performance restricted stock units that will vest only upon the Company attaining a specific three-year cumulative performance target; and 25% in restricted stock units; and 25% in stock options, both of which vest in one-third increments in each of the first three years after the grant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AERSALE CORPORATION | |
| | |
June 13, 2024 | By: | /s/ James Fry |
| Name: | James Fry |
| Title: | Executive Vice President, General Counsel & Corporate Secretary |