Company: SPR
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015209
Chunk: 56

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 56
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 “Termination without Cause” row, represents 12 months’ of monthly COBRA premium to continue the group health and dental coverage pursuant to the Senior Management Severance Plan. Mr. Shanahan does not participate in Spirit’s health or dental coverage. Ms. Esteves does not participate in Spirit’s health coverage, but does participate in Spirit’s dental coverage. |

Employment Agreements Spirit has employment agreements with all of its currently employed NEOs. A brief description of the material terms of Mr. Shanahan, Ms. Esteves, Mr. Brown, and Mr. Suchinski’s employment agreements is below. While

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Messrs. Welner, Black and McPheeters have employment agreements with the Company, their roles and compensation have significantly changed since the employment agreements were entered into and all termination benefits expressly provided by the agreements have since expired. Accordingly, the Company does not believe a description of the terms of such agreements is necessary to understand the information disclosed in the “Summary Compensation Table.” Mr. Shanahan’s Employment Agreement On September 30, 2023, we entered into an employment agreement with Mr. Shanahan with respect to his position as President and Chief Executive Officer. Pursuant to the employment agreement, Mr. Shanahan receives a base salary of $2,000,000 per year. In addition, Mr. Shanahan received (i) a one-time award of RSUs under the LTIP with an aggregate target grant date fair value equal to 400% of his base salary, (ii) use of temporary housing benefits in Wichita, Kansas provided in accordance with the terms and conditions of the Company’s relocation policy, (iii) use of the Company’s aircraft in accordance with the terms and conditions of the Company’s aircraft policy, and (iv) an automobile allowance provided in accordance with the terms and conditions of the Company’s automobile policy. Mr. Shanahan is not eligible for an ACI award. Mr. Shanahan’s employment agreement provides for certain severance payments and benefits upon qualifying termination events. Receipt of these benefits is conditioned upon the execution of a release of claims against the Company and satisfaction of certain covenants, including non-solicitation and non-competition covenants. Pursuant to Mr. Shanahan’s employment agreement, the non-solicitation and non-competition covenants apply for one year post-termination if terminated without cause or for good reason and two years post-termination if terminated for any other reason. Upon a termination for cause,