United Airlines Elects New Directors, Updates CEO Compensation
Ticker: UAL · Form: 8-K · Filed: 2024-04-01T00:00:00.000Z
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: UAL
TL;DR
UAL adds two directors, boosts CEO Kirby's pay package.
AI Summary
United Airlines Holdings, Inc. announced on March 28, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Elizabeth L. Smith and James R. Squeri, to its Board of Directors. Additionally, the company entered into a new employment agreement with its Chief Executive Officer, Scott Kirby, effective March 28, 2024, which includes a base salary of $1,200,000 and potential incentive compensation.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board and executive compensation changes, with no immediate financial distress or significant operational shifts indicated.
Key Numbers
- $1,200,000 — CEO Base Salary (Effective March 28, 2024, Scott Kirby's new employment agreement includes this base salary.)
Key Players & Entities
- United Airlines Holdings, Inc. (company) — Filer
- Elizabeth L. Smith (person) — Newly Elected Director
- James R. Squeri (person) — Newly Elected Director
- Scott Kirby (person) — Chief Executive Officer
- $1,200,000 (dollar_amount) — CEO Base Salary
FAQ
Who were the new directors elected to United Airlines' Board?
Elizabeth L. Smith and James R. Squeri were elected as new directors.
What is the effective date of the changes reported in this 8-K?
The earliest event reported is dated March 28, 2024.
What is Scott Kirby's new base salary?
Scott Kirby's new employment agreement, effective March 28, 2024, sets his base salary at $1,200,000.
What other items are covered in this 8-K filing besides director elections?
The filing also covers the appointment of certain officers and compensatory arrangements of certain officers.
What is United Airlines Holdings, Inc.'s fiscal year end?
United Airlines Holdings, Inc.'s fiscal year ends on December 31.
From the Filing
0001104659-24-041933.txt : 20240401 0001104659-24-041933.hdr.sgml : 20240401 20240401170137 ACCESSION NUMBER: 0001104659-24-041933 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240328 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240401 DATE AS OF CHANGE: 20240401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: United Airlines Holdings, Inc. CENTRAL INDEX KEY: 0000100517 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 362675207 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06033 FILM NUMBER: 24810640 BUSINESS ADDRESS: STREET 1: E. ANNA HA - WHQLD STREET 2: 233 SOUTH WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 872-825-4000 MAIL ADDRESS: STREET 1: E. ANNA HA - WHQLD STREET 2: 233 SOUTH WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: United Continental Holdings, Inc. DATE OF NAME CHANGE: 20100930 FORMER COMPANY: FORMER CONFORMED NAME: UAL CORP /DE/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ALLEGIS CORP DATE OF NAME CHANGE: 19880613 8-K 1 tm2410342d1_8k.htm FORM 8-K false 0000100517 true 0000100517 2024-03-28 2024-03-28 0000100517 us-gaap:CommonStockMember 2024-03-28 2024-03-28 0000100517 UAL:PreferredStockPurchaseRightsMember 2024-03-28 2024-03-28 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   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): March 28, 2024   UNITED AIRLINES HOLDINGS, INC. (Exact name of registrant as specified in its charter)   Delaware   001-06033   36-2675207 (State or other jurisdiction   (Commission   (IRS Employer of incorporation)   File Number)   Identification Number)   233 S. Wacker Drive , Chicago , IL   60606 (Address of principal executive offices)   (Zip Code)   ( 872 ) 825-4000 Registrant’s telephone number, including area code   (Former name or former address, if changed since last report.)   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:   ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Registrant   Title of Each Class   Trading Symbol   Name of Each Exchange on Which Registered  United Airlines Holdings, Inc.   Common Stock, $0.01 par value   UAL   The Nasdaq Stock Market LLC United Airlines Holdings, Inc.   Preferred Stock Purchase Rights   None   The Nasdaq Stock Market LLC   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ¨   If an emerging growth company, indicate by check mark if the registrant has elected not