Form 4: Spirit AeroSystems Director Receives Stock Units

William Augustus Fitzgerald III, a director at Spirit AeroSystems Holdings, Inc., was granted 8,511 restricted stock units on May 6, 2024.

Summary

• On May 6, 2024, William Augustus Fitzgerald III, a director of Spirit AeroSystems Holdings, Inc., received 8,511 restricted stock units (RSUs).
• These RSUs are subject to a service condition, requiring Fitzgerald to remain a director until May 6, 2025.
• 3,968 of the RSUs have a condition that termination of service prior to May 6, 2025 will result in a forfeiture of the applicable RSUs and a cash payment for the pro rate portion of the compensation subject to such RSUs that is earned as of the date of the reporting person's termination.
• The RSUs convert into Class A Common Stock on a one-for-one basis once vested and payable.
• Following the transaction, Fitzgerald directly owns 29,658 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard compensation practice, indicating confidence in the director's continued service and alignment with shareholder interests.

Positives

• The grant of restricted stock units aligns the director's interests with the long-term performance of the company.
• The vesting condition encourages continued service as a director.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

This is a routine disclosure related to director compensation and is typical for publicly traded companies. It reflects a common practice of using stock-based compensation to incentivize and retain key personnel.

Comparison to Industry Standards

• Stock grants to board members are a common practice across publicly traded companies, particularly in the aerospace industry.
• Companies like Boeing, Lockheed Martin, and General Dynamics also utilize stock-based compensation for their directors.
• The size of the grant is likely determined by factors such as company size, director responsibilities, and overall compensation strategy.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting requirements incentivize the director to remain with the company, providing stability.

Key Dates