Willis Lease cancels 231,000-share option to executive chairman, modifies restricted stock vesting

WILLIS LEASE FINANCE CORP

Canceled a non-qualified stock option for 231,000 shares granted to Charles F. Willis IV on March 19, 2025; no replacement grant.
Sign-On RS Award of 44,904 shares (target value $8M) changed from fully vested to three-year graded vesting starting March 19, 2025.
Unvested RS shares accelerate on termination without cause, for good reason, death or disability; forfeited on cause or voluntary resignation.
Changes approved by Compensation Committee and effective March 31, 2025.

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