Willis Lease Finance appoints Austin C. Willis as CEO; Charles Willis becomes Executive Chairman
WILLIS LEASE FINANCE CORP
Austin C. Willis to become CEO effective April 1, 2022; Charles F. Willis IV steps down as CEO same date.
Charles Willis will serve as Executive Chairman with initial annual base salary of $1,097,000 and target bonus of 100%.
Austin Willis receives employment agreement with base salary of $640,000 (rising to $775,000 by Sept 2023) and target bonus of 90%.
Charles Willis receives $1M signing bonus, personal use of company plane/car/marine vessel, and right to terminate Austin Willis without cause in first two years.
Both employment agreements include change-in-control vesting acceleration and severance benefits.
appointed Austin C. Willis, currently a member of the Board and the Company’s Senior Vice President, Corporate Development, as the Company’s Chief Executive Officer, effective April 1, 2022.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Charles F. Willis, IV changed role as Executive Chairman at WILLIS LEASE FINANCE CORP.
Action
assumed role of
Role
Executive Chairman
Exact text from the filing
Charles Willis will continue to serve as the Chairman of the Board and will assume the role of Executive Chairman on April 1, 2022.
Austin C. Willis was appointed as Chief Executive Officer at WILLIS LEASE FINANCE CORP.
Action
appointed
Role
Chief Executive Officer
Exact text from the filing
appointed Austin C. Willis, currently a member of the Board and the Company’s Senior Vice President, Corporate Development, as the Company’s Chief Executive Officer, effective April 1, 2022.
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