JETBLUE AIRWAYS CORPORATION (NASDAQ:JBLU) 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 Principal Officers; Election of Directors; Appointment of Principal
JETBLUE AIRWAYS CORPORATION (NASDAQ:JBLU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Officers
(b) and (c) On February 16, 2017, the Board of Directors of JetBlue Airways Corporation (the “Company”) appointed Stephen J. “Steve” Priest, the Company’s Vice President Structural Programs, as Executive Vice President Chief Financial Officer effective February 21, 2017. Mr. Priest replaces James F. Leddy who had been serving in an interim capacity since Mark Powers’ retirement on November 1, 2016. The Company did not have any disagreements with Mr. Leddy. The Company thanks Mr. Leddy for his service in the interim role.
Mr. Priest, age 46, joined the Company in 2015 as Vice President Structural Programs, heading the Company’s Strategic Sourcing, fleet and engine strategy, and Continuous Improvement groups. Prior to that, he was at British Airways Plc for 19 years, most recently serving as Senior Vice President, North Atlantic Joint Business from 2012-2015 and Senior Vice President, Strategy and Planning from 2009-2012. There are no arrangements or understandings between Mr. Priest and any other person to which he was appointed as an officer. Mr. Priest does not have any family relationship with any director or other executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer, and there are no transactions in which Mr. Priest has an interest requiring disclosure under Item 404(a) of Regulation S-K.
(e) In connection with the appointment as Chief Financial Officer, Mr. Priest will be paid a base salary of $400,000 per year, have a bonus opportunity of 65% of base salary at target, a short term target equity opportunity of $300,000 worth of restricted stock units to vest over three years in accordance with the JetBlue Airways Corporation Amended and Restated 2011 Incentive Compensation Plan (the “Plan”) and the award agreement and a long term performance-based target equity opportunity of $300,000 of performance stock units for the 2017-2019 performance period, in accordance with the Plan and the award agreement.
Item 7.01. Regulation FD Disclosure
On February 21, 2017, the Company issued a press release announcing the changes to the Company’s leadership structure disclosed under Item 5.02 above. A copy of the press release is furnished as Exhibit 99.1 herewith.
References to the Company’s website in the release do not incorporate by reference the information on such website into this report, and the Company disclaims any such incorporation by reference. The information in this Item 7.01 is being “furnished” in satisfaction of the public disclosure requirements of Regulation FD and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. It may be incorporated by reference in another filing under the Securities Exchange Act of 1934 or the Securities Act of 1933 only if and to the extent such subsequent filing specifically references the information incorporated by reference in this Item 7.01.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Number Description
99.1 Press Release dated February 21, 2017 of JetBlue Airways Corporation*
_____________________________
* Furnished herewith.
About JETBLUE AIRWAYS CORPORATION> (NASDAQ:JBLU)
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. It operates various types of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint. Mint includes approximately 20 fully lie-flat seats, over four of which are in suites with a privacy door. The Company has installed Fly-Fi in-flight Internet service across its Airbus fleet. The Company provides three branded fares: Blue, Blue Plus and Blue Flex. Each of these fares includes different offerings, such as free checked bags, reduced change fees and additional TrueBlue points. The Company also accepts Apple Pay in-flight, which enables the iPhone users to use their phones for all onboard purchases. Its Airbus A321 aircraft in a single cabin layout has approximately 190 seats and those with Mint offering have over 160 seats. JETBLUE AIRWAYS CORPORATION> (NASDAQ:JBLU) Recent Trading Information
JETBLUE AIRWAYS CORPORATION> (NASDAQ:JBLU) closed its last trading session 00.00 at 20.11 with 7,073,565 shares trading hands.
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. It operates various types of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint. Mint includes approximately 20 fully lie-flat seats, over four of which are in suites with a privacy door. The Company has installed Fly-Fi in-flight Internet service across its Airbus fleet. The Company provides three branded fares: Blue, Blue Plus and Blue Flex. Each of these fares includes different offerings, such as free checked bags, reduced change fees and additional TrueBlue points. The Company also accepts Apple Pay in-flight, which enables the iPhone users to use their phones for all onboard purchases. Its Airbus A321 aircraft in a single cabin layout has approximately 190 seats and those with Mint offering have over 160 seats. JETBLUE AIRWAYS CORPORATION> (NASDAQ:JBLU) Recent Trading Information
JETBLUE AIRWAYS CORPORATION> (NASDAQ:JBLU) closed its last trading session 00.00 at 20.11 with 7,073,565 shares trading hands.