SEC Form 8-K filed by American Airlines Group Inc.

 

 

 

 

Date of Report (Date of earliest event reported): July 11, 2024

 

 

 

 

 

Check the appropriate box below if the Form 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:

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule of the Securities Exchange Act of 1934.

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. ☐

 

 

 

(e) On July 11, 2024, American Airlines Group Inc. and American Airlines, Inc. (together, the “Company”) entered into a Separation Agreement (the “Agreement”) with Vasu Raja, the Company’s former Chief Commercial Officer. The Agreement provides for, among other things, severance benefits subject to Mr. Raja’s performance of his continuing obligations pursuant to the Agreement, including compliance with post-termination and covenants through January 31, 2025 (the “Severance Period”). The severance benefits include the continuation of his base salary during the Severance Period, a lump sum payment of $968,750, which amount is payable only following the expiration of the Severance Period, subject to Mr. Raja’s continued compliance with the restrictive covenants through the expiration of such Severance Period, and the continuation of certain travel privileges, subject to the terms and conditions of the Company’s officer travel policy. The foregoing description of the Agreement is qualified in its entirety by reference to the full text of such Agreement which is attached hereto as Exhibit 99.1.

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, American Airlines Group Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Pursuant to the requirements of the Securities Exchange Act of 1934, American Airlines, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.