Spirit AeroSystems Holdings,Inc. (NYSE:SPR) 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
(e) On January22, 2019, the Compensation Committee (the “Committee”) of the Board of Directors of Spirit AeroSystems Holdings,Inc. (the “Company”) modified the compensation arrangement of Thomas C. Gentile, III, the Company’s President and Chief Executive Officer. Effective February1, 2019, Mr.Gentile’s annual base salary will increase from $1,250,000 to $1,300,000. Further, effective for the 2019 year, Mr.Gentile will be entitled to receive an annual equity award under the Long Term Incentive Program portion of the Company’s Omnibus Incentive Plan of 2014, as amended (the “OIP”), with a value equal to 550% of his annual base salary (increased from 500%) and an annual incentive award under the Short Term Incentive Program portion of the OIP with a value equal to 145% of his annual base salary (increased from 140%). Other than with respect to the compensation changes set forth herein, Mr.Gentile’s employment agreement with the Company will continue in full force and effect.
About Spirit AeroSystems Holdings,Inc. (NYSE:SPR)
Spirit AeroSystems Holdings, Inc. is a non-original equipment manufacturer (OEM) aircraft parts designer and manufacturer of commercial aero-structures. The Company is a supplier of aero-structures to The Boeing Company (Boeing) and Airbus S.A.S (Airbus). The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems. It is engaged in production, including the majority of the airframe content for the Boeing B737. It is also a content supplier of wing systems for the Airbus A320 family. It is a supplier for the Airbus A380 and Airbus A350 XWB (Xtra Wide-Body). Its products include Fuselage Systems, Propulsion Systems and Wing Systems. The Company offers spares and replacement parts for B737 Classic, B737NG, B747, B757, B767, B777, Rolls-Royce BR725, A320, A330, A340 and A380. Its Maintenance, Repair and Overhaul at repair stations provide complete on-site repair and overhaul to support MRO services for B747, B767, B777, B787 and Rolls-Royce BR725.
