Company: SPR
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015209
Chunk: 25

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 25
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 the period pending the Merger. 2024 Retention Awards In connection with the Merger, the Company established a cash retention bonus program (the “Retention Bonuses”) for the benefit of certain Company employees (including certain NEOs). The Retention Bonuses awarded to the NEOs are generally payable in two tranches, subject in each case to the NEO’s continued employment through the applicable payment date. In each case, the first 50% of the Retention Bonus became payable on December 15, 2024, and the remaining 50% of the Retention Bonus will vest and become payable on the next regularly scheduled payroll date following the earlier of (a) the 90th day following the Closing Date and (b) the termination of the Merger Agreement. Certain Retention Bonuses were also granted in 2024 under the retention bonus program that vest in full upon the 90 thday following the Closing Date rather than in two separate tranches. In the event of a recipient’s qualifying termination (as defined in the participant’s underlying cash retention bonus agreement) following the Closing, and to the extent the second tranche has not yet vested or been paid, the second tranche will immediately become vested and payable. Mr. Shanahan did not receive a retention bonus under the cash retention bonus program. The amount paid in December 2024 to each NEO (as applicable) is shown in the “Bonus” column and corresponding footnote to the “Summary Compensation Table” below. In connection with the Merger, On June 30, 2024, the Company granted a one-time award of RSUs to Mr. Shanahan (the “CEO Retention RSU Grant”). The CEO Retention RSU Grant will vest upon the earlier of (a) the one-year anniversary of the grant date and (b) the completion of the Merger, subject to Mr. Shanahan’s continued employment with Spirit through such date. If Mr. Shanahan’s employment is terminated by Spirit without cause or by Mr. Shanahan for good reason, then, for as long as Mr. Shanahan complies with his continuing obligations under his employment agreement, including non-competition, non-solicitation and other restrictive covenants, and contingent upon Mr. Shanahan’s timely execution and non-revocation of a release of claims in favor of Spirit and its affiliates, the CEO Retention RSU Grant would be treated as 100% vested. The grant date fair value of the RSU award is reflected in the Grants