AAR CORP. (NYSE:AIR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January3, 2019, AAR CORP. announced that its Board of Directors appointed Sean M. Gillen as Vice President and Chief Financial Officer, effective January7, 2019. Mr.Gillen will succeed Michael D. Milligan and will report to AAR President and Chief Executive Officer John M. Holmes. He will have responsibility over the financial, accounting, tax, treasury and investor relations functions at AAR.
Mr.Gillen, age 33, joins AAR from USG Corporation (NYSE: USG), a construction materials company based in Chicago with annual net sales of $3.2 billion, where he served as Vice President and Treasurer since 2017. Prior to USG, Mr.Gillen spent nine years in investment banking with Goldman Sachs& Co. LLC, most recently as a Vice President in their Global Industrials Group.
For the Company’s current fiscal year, Mr.Gillen will receive an annual base salary of $400,000, a target annual cash bonus opportunity equal to 50% of annual base salary, and stock awards with a dollar value of $500,000 as of the date of grant. Mr.Gillen also will receive a sign-on bonus of $100,000, payable 30 days after his start date, and be entitled to participate in the Company’s benefit plans. The Company will enter into a severance and change in control agreement with Mr.Gillen substantially in the form entered into with certain other executive officers of the Company (see Exhibit10.1 to the Company’s current report on Form8-K dated October11, 2017) and an indemnification agreement substantially in the form entered into with directors and officers of the Company (see Exhibit10.1 to the Company’s quarterly report on Form10-Q for the quarter ended August31, 2008).
A copy of the Company’s press release announcing Mr.Gillen’s appointment as Vice President and Chief Financial Officer is attached hereto as Exhibit99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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ExhibitNo. |
Description |
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99.1 |
AAR CORP. Press Release dated January3, 2019. |
AAR CORP Exhibit
EX-99.1 2 a19-1079_1ex99d1.htm EX-99.1 Exhibit 99.1 AAR Names Sean Gillen Chief Financial Officer WOOD DALE,…
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About AAR CORP. (NYSE:AIR)
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities. Its services and products include aviation supply chain and parts support programs; MRO of aircraft and landing gear; design and manufacture of specialized pallets, shelters and containers; expeditionary airlift services; aircraft modifications, and aircraft and engine sales and leasing. It serves commercial, defense and governmental aircraft fleet operators, original equipment manufacturers and independent service providers around the world. Its landing gear overhaul facility is in Miami, Florida, where it repairs and overhauls landing gear, brakes and actuators for various types of commercial and military aircraft.
