In a recent development, Spirit Airlines , Inc. (NYSE: NYSE:SAVE) announced the approval of its 2024 Incentive Award Plan during the Annual Meeting of Stockholders on June 7. The plan, which takes immediate effect following stockholder endorsement, supersedes the 2015 Incentive Award Plan. This strategic move aims to enhance the compensation framework for the company's executives and key employees.
The 2024 Incentive Award Plan's approval was one of several key issues voted upon during the virtual meeting. In addition to the incentive plan, stockholders re-elected two Class I directors, Robert D. Johnson and Barclay G. Jones III, to serve three-year terms. Another significant outcome was the ratification of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
Stockholders also participated in a non-binding advisory vote on the compensation of the company's named executive officers, with a majority opting for annual advisory votes on executive compensation.
Regarding corporate disclosures, Spirit Airlines has adjusted the timing of its Analyst Day, originally scheduled for early August. The company cites ongoing negotiations with bondholders and other initiatives as the reason for the delay, with a new date for the event to be announced later in the year.
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