secwatch.observer — SEC 8-K summary
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Issuer:     WILLIS LEASE FINANCE CORP (WLFC)
CIK:        0001018164
Form:       8-K
Filed at:   2022-03-08T23:59:59+00:00
Accession:  0001018164-22-000002
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Willis Lease Finance appoints Austin C. Willis as CEO; Charles Willis becomes Executive Chairman
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1018164/000101816422000002/0001018164-22-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1018164/000101816422000002/wlfc-20220303.htm
  HTML page:      https://secwatch.observer/filing/0001018164-22-000002

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