ALASKA AIR GROUP, INC. (NYSE:ALK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 3, 2017, the Board of Directors of Alaska Air Group, Inc. (the “Company”) made the following appointment, effective immediately:
James Beer, Executive Vice President and CFO of McKesson Corporation, was appointed to the Company’s and its subsidiaries’ boards of directors. Beer was also appointed to the Compensation and Leadership Development and Safety Committees of the Company’s Board of Directors. Beer will participate in the current director compensation arrangements applicable to non-employee directors. Under the terms of those arrangements, Beer will receive a prorated annual retainer of $45,000 for service on the Company’s board for 2017. In addition, under the Company’s 2016 Performance Incentive Plan, Beer will receive a grant of 794 shares of Alaska Air Group, Inc. common stock (determined by dividing $67,500 by the closing price of the Company’s common stock on the date of Beer’s appointment).
In connection with Mr. Beer’s appointment, the number of seats on the Company’s and its subsidiaries’ boards of directors was increased by actions of each board from 9 to 10.
In addition, on August 3, 2017, the Board of Directors of the Company appointed Eric Yeaman to its Governance and Nominating Committee. Yeaman will also continue to serve as the chairman of the Audit Committee of the Company’s Board of Directors.
ITEM 7.01 Regulation FD Disclosure.
On August 3, 2017, the Company issued a press release announcing the appointment of James Beer to the Company’s board of directors. The press release is furnished as Exhibit 99.1.
ALASKA AIR GROUP, INC. ExhibitEX-99.1 2 ex991pressrelease08032017.htm EXHIBIT 99.1 PRESS RELEASE Exhibit Exhibit 99.1Aug. 3,…To view the full exhibit click here
About ALASKA AIR GROUP, INC. (NYSE:ALK)
Alaska Air Group, Inc. is a holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company’s segments include Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska. Its regional operations consist of flights operated by Horizon, SkyWest Airlines, Inc. and Peninsula Airways, Inc. Its Horizon segment operates regional aircraft. It boasts over 1,200 daily flights to approximately 120 destinations. It offers over 290 daily flights to approximately 50 destinations from California, including over 110 daily nonstop flights to approximately 30 destinations from over three Bay Area airports and approximately 105 daily nonstop flights to over 40 destinations from approximately four Los Angeles area airports.
