secwatch.observer — SEC 8-K summary
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Issuer:     Air Transport Services Group, Inc. (—)
CIK:        0000894081
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0000894081-23-000205
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ATSG appoints former CEO Joe Hete as CEO, succeeding Rich Corrado
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- Joe Hete, Chairman, appointed CEO effective Nov 6, 2023; replaces Rich Corrado whose CEO role ended Nov 3.
- Hete previously served as ATSG CEO from 2003 to 2020; comp includes $750k salary, target bonus up to 115% of base.
- Hete receives $1.2M RSU grant vesting after 12 months; eligible for LTIP awards at 300% of base salary starting 2024.
- Corrado receives severance: 24 months salary continuation, prorated 2023 bonus, and equity vesting under retirement provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/894081/000089408123000205/0000894081-23-000205-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/894081/000089408123000205/atsg-20231106.htm
  HTML page:      https://secwatch.observer/filing/0000894081-23-000205

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer