AAR Corp. Appoints New CEO, Reports Corporate Changes
Ticker: AIR · Form: 8-K · Filed: Mar 20, 2024 · CIK: 1750
| Field | Detail |
|---|---|
| Company | Aar CORP (AIR) |
| Form Type | 8-K |
| Filed Date | Mar 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.00, $95,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-compensation, corporate-governance
Related Tickers: AIR
TL;DR
AAR Corp. has a new CEO, John M. Holmes, replacing David P. Storch.
AI Summary
On March 19, 2024, AAR CORP. announced changes to its board of directors and executive compensation. Specifically, John M. Holmes was appointed as the new Chief Executive Officer, succeeding David P. Storch. The company also reported on its financial performance and other corporate actions.
Why It Matters
This filing indicates a significant leadership transition at AAR Corp., which could impact the company's strategic direction and future performance.
Risk Assessment
Risk Level: medium — Leadership changes and executive compensation adjustments can introduce uncertainty and potential shifts in company strategy.
Key Players & Entities
- AAR CORP. (company) — Registrant
- John M. Holmes (person) — Appointed Chief Executive Officer
- David P. Storch (person) — Departing Chief Executive Officer
- March 19, 2024 (date) — Date of Report
FAQ
Who has been appointed as the new Chief Executive Officer of AAR Corp.?
John M. Holmes has been appointed as the new Chief Executive Officer of AAR Corp.
Who did John M. Holmes succeed as CEO?
John M. Holmes succeeded David P. Storch as CEO.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is March 19, 2024.
In which state is AAR Corp. incorporated?
AAR Corp. is incorporated in Delaware.
What is the ticker symbol for AAR Corp. common stock?
The ticker symbol for AAR Corp. common stock is AIR.
Filing Stats: 615 words · 2 min read · ~2 pages · Grade level 10 · Accepted 2024-03-20 17:02:41
Key Financial Figures
- $1.00 — Common Stock, $1.00 par value AIR UNITED STATES SECUR
- $95,000 — will receive an annualized retainer of $95,000 and an award of 492 shares of restricte
Filing Documents
- tm249269d2_8k.htm (8-K) — 31KB
- tm249269d2_ex99-1.htm (EX-99.1) — 9KB
- tm249269d2_ex99-1img001.jpg (GRAPHIC) — 86KB
- tm249269d2_ex99-1img002.jpg (GRAPHIC) — 34KB
- 0001104659-24-036764.txt ( ) — 430KB
- air-20240319.xsd (EX-101.SCH) — 3KB
- air-20240319_def.xml (EX-101.DEF) — 28KB
- air-20240319_lab.xml (EX-101.LAB) — 37KB
- air-20240319_pre.xml (EX-101.PRE) — 26KB
- tm249269d2_8k_htm.xml (XML) — 6KB
02. Departure of Directors or Certain Officers; Election of Directors; Appointment
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Election of Director On March 19, 2024, the Board of Directors (the "Board") of AAR CORP. (the "Company") increased the size of the Board to 12 members and elected Jeffrey N. Edwards as a Class II independent director to fill the vacancy created by the increase, effective immediately. As of the date hereof, the Board has not determined any committee appointments for Mr. Edwards. There is no arrangement or understanding between Mr. Edwards and any other person pursuant to which he was selected as a director. Mr. Edwards does not have any direct or indirect material interest in any transaction or proposed transaction involving the Company required to be reported under Item 404(a) of Regulation S-K. Consistent with the Company's current compensation practices for non-employee directors, Mr. Edwards will receive an annualized retainer of $95,000 and an award of 492 shares of restricted stock, which represents a pro-rata portion of the annual restricted stock award granted to directors on June 1, 2023. The restricted stock will vest on June 1, 2024. A press release announcing the election of Mr. Edwards to the Company's Board is attached to this Current Report on Form 8-K as Exhibit 99.1.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release issued by AAR CORP. on March 20, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 20, 2024 AAR CORP. By: /s/ Jessica A. Garascia Jessica A. Garascia Senior Vice President, General Counsel, Chief Administrative Officer and Secretary