Allegiant Travel Co. Reports Material Agreement Changes & Officer Updates
Ticker: ALGT · Form: 8-K · Filed: Sep 6, 2024 · CIK: 1362468
Sentiment: neutral
Topics: corporate-governance, material-agreement, executive-changes
Related Tickers: ALGT
TL;DR
ALGT filed an 8-K detailing material agreement changes and executive shuffles. Keep an eye on the details.
AI Summary
Allegiant Travel Company (ALGT) announced on September 4, 2024, the entry into and termination of a material definitive agreement. The company also reported on the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements for these officers. Specific details regarding the nature of the agreements and the individuals involved were not provided in this summary.
Why It Matters
This filing indicates significant corporate actions, including changes in material agreements and executive personnel, which could impact the company's strategic direction and operational stability.
Risk Assessment
Risk Level: medium — The filing mentions both the entry into and termination of material definitive agreements, as well as changes in officers and directors, which can signal potential instability or strategic shifts.
Key Numbers
- 001-33166 — SEC File Number (Identifies the company's filing with the SEC.)
- 20-4745737 — I.R.S. Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Allegiant Travel Company (company) — Registrant
- September 4, 2024 (date) — Earliest event reported
- Nevada (jurisdiction) — State of incorporation
- Las Vegas, NV (location) — Principal executive offices
FAQ
What was the nature of the material definitive agreement that Allegiant Travel Company entered into?
The filing does not specify the nature of the material definitive agreement entered into.
What were the reasons for the termination of the material definitive agreement?
The filing does not provide the reasons for the termination of the material definitive agreement.
Which directors or officers departed from Allegiant Travel Company?
The filing does not name the specific directors or officers who departed.
Who were the newly elected directors or appointed officers?
The filing does not identify the individuals elected as directors or appointed as officers.
What are the details of the compensatory arrangements for the newly appointed officers?
The filing mentions compensatory arrangements but does not provide specific details within the provided text.
Filing Stats: 609 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-09-06 16:38:08
Key Financial Figures
- $0.001 — ich registered Common stock, par value $0.001 ALGT NASDAQ Stock Market Indicate b
Filing Documents
- algt-20240904.htm (8-K) — 33KB
- algt-20240904_g1.jpg (GRAPHIC) — 82KB
- 0001362468-24-000046.txt ( ) — 345KB
- algt-20240904.xsd (EX-101.SCH) — 2KB
- algt-20240904_lab.xml (EX-101.LAB) — 19KB
- algt-20240904_pre.xml (EX-101.PRE) — 11KB
- algt-20240904_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 4, 2024, Allegiant Travel Company (the "Company') and Scott DeAngelo entered into a separation agreement under which Mr. DeAngelo resigned as executive vice president and chief marketing officer of the Company effective as of September 30, 2024. Under the terms of the separation agreement, Mr. DeAngelo is entitled to a lump sum cash payment in consideration for the cancellation of 50,710 shares of unvested restricted stock, base salary through December 31, 2026 in accordance with the terms of his employment agreement and for continuing post-termination fringe benefits under the employment agreement. The separation agreement provides for the termination of Mr. DeAngelo's employment agreement as of September 30, 2024. Under the separation agreement, Mr. DeAngelo will be subject to a noncompete and nonsolicitation of business partners for one year, a nonsolicitation of employees agreement for two years and a confidentiality agreement for five years.
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. On September 4, 2024, the Company and Mr. DeAngelo agreed to the termination of his Employment Agreement dated as of July 1, 2024. 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 September 5, 2024, the Company announced that Scott DeAngelo will resign as executive vice president, chief marketing officer of the Company effective as of September 30, 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: September 6, 2024 ALLEGIANT TRAVEL COMPANY By: /s/ Robert Neal Name: Robert Neal Title: Senior Vice President, Chief Financial Officer