Allegiant Travel Company filed SEC Form 8-K: Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Leadership Update
$ALGT
Air Freight/Delivery Services
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 10, 2024
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Registrant’s telephone number, including area code: (702 ) 851-7300
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Common stock, par value $0.001 | ALGT | NASDAQ Stock Market | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as in Rule 405 of the Securities Act of 1933 (Section 17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Section 17 CFR §240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 1 Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
On June 10, 2024, Allegiant Travel Company (the “Company’) and Robert P. Wilson, III entered into a separation agreement under which Mr. Wilson will retire as executive vice president and chief information officer of the Company effective as of July 1, 2024. Under the terms of the separation agreement, Mr. Wilson is entitled to vesting of 48,466 shares of unvested restricted stock previously granted to him, cash compensation of $750,000 and a cash payment in lieu of continuing fringe benefits. He will forfeit his remaining 6,000 shares of restricted stock. The separation agreement provides for the termination of Mr. Wilson’s employment agreement as of July 1, 2024, and the cancellation of all stock options granted to him under the employment agreement. Under the separation agreement, Mr. Wilson will be subject to a nonsolicitation of employees agreement for two years and a confidentiality agreement for five years.
Item 1.02 Termination of a Material Definitive Agreement.
On June 10, 2024, the Company and Mr. Wilson agreed to the termination of his Employment Agreement dated as of August 1, 2022. See Item 1.01 above.
Section 5 Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 10, 2024, the Company announced that Robert P. Wilson, III will retire as executive vice president, chief information officer of the Company effective as of July 1, 2024. See Item 1.01 above.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, Allegiant Travel Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: June 14, 2024 | ALLEGIANT TRAVEL COMPANY | ||||||||||
| By: | /s/ Robert Neal | ||||||||||
| Name: | Robert Neal | ||||||||||
| Title: | Senior Vice President, Chief Financial Officer | ||||||||||