secwatch.observer — SEC 8-K summary
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Issuer:     Spirit Aviation Holdings, Inc. (FLYYQ)
CIK:        0001498710
Form:       8-K
Filed at:   2025-07-23T23:59:59+00:00
Accession:  0000950103-25-009185
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spirit Aviation promotes Thomas Canfield to EVP & GC; grants equity and cash awards to NEOs
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- Thomas Canfield promoted to EVP & General Counsel; salary raised to $610,000, bonus target to 100%, LTI target to $1,500,000.
- Committee approved RSUs, PSUs, and Performance Cash Awards to NEOs (Cromer, Bendoraitis, Canfield) each with $375k RSUs, $375k PSUs, $3.75M cash.
- RSUs vest over 3 years; PSUs vest April 2028 based on equity valuation growth.
- Performance Cash Awards vest over two annual periods with catch-up provision.
- Also adopted 2025 Executive Severance Plan for NEOs, substantially similar to 2017 plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498710/000095010325009185/0000950103-25-009185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498710/000095010325009185/dp231938_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-009185

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