secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2024-10-22T23:59:59+00:00
Accession:  0000353184-24-000126
Event type: leadership
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T appoints Tracy Kennedy as permanent CFO with $270K base salary and performance-based incentives
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- Kennedy, previously interim principal financial officer and CAO, became permanent CFO effective October 16, 2024.
- Annual base salary of $270,000; eligible for quarterly incentive bonuses up to $55,000+ based on CEO ratings.
- Employment agreement includes six-month severance plus one month per year of service (max 12 months) if terminated without cause.
- Restrictive covenants cover non-competition, non-solicitation, non-disparagement, and confidentiality.
- CEO Nick Swenson cited Kennedy's six-year tenure and leadership in accounting through a period of significant growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318424000126/0000353184-24-000126-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318424000126/airt-20241022.htm
  HTML page:      https://secwatch.observer/filing/0000353184-24-000126

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