other material
confidence high
sentiment neutral
materiality 0.15
Leggett & Platt enters aircraft time sharing agreement with CEO Dolloff for personal travel
LEGGETT & PLATT INC
- CEO J. Mitchell Dolloff may lease company aircraft with crew for personal use under time sharing agreement.
- Reimbursement limited to 2x fuel cost plus specified expenses per FAA rules; no tax reimbursement for imputed income.
- Agreement covers two Learjet 75 aircraft (N751LP, N752LP); can be terminated with 10 days' notice.
- Operator L&P Transportation LLC retains operational control and all ownership expenses.