Form 4: Volato Group Executive Nicholas Cooper Acquires Shares and Performance-Based Restricted Stock Units

Nicholas James Cooper, Chief Commercial Officer and Director of Volato Group, Inc., reports acquisition of shares and performance-based restricted stock units.

Summary

• Nicholas James Cooper, a Director, 10% Owner, and Chief Commercial Officer of Volato Group, Inc. (SOAR), filed a Form 4 on June 11, 2024, regarding changes in beneficial ownership.
• On June 7, 2024, Cooper acquired 346,412 shares of common stock in the form of Restricted Stock Units (RSUs) at a price of $0.
• These RSUs vest 25% after 12 months of continuous employment from the vesting commencement date, with the remaining 75% vesting in equal monthly installments over the following 36 months.
• Cooper also acquired 22,560 Performance-Based Restricted Stock Units (PRSUs) on the same date, also at a price of $0.
• These PRSUs vest upon SOAR's common stock achieving a specified price per share.
• Following these transactions, Cooper directly owns 3,812,565 shares of common stock.
• Additionally, Cooper indirectly owns 3,466,153 shares of Common Stock held by Hoop Capital LLC, where he holds sole voting and investment power.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the acquisition of shares by an executive suggests confidence in the company's future. The performance-based RSUs further align management's interests with shareholders.

Positives

• The acquisition of shares and performance-based RSUs by a key executive signals confidence in the company's future performance.
• The vesting schedule of the RSUs incentivizes long-term commitment from the executive.
• The performance-based vesting of the PRSUs aligns executive compensation with shareholder value creation.

Risks

• The vesting of the PRSUs is contingent on the company's stock price reaching a specified level, which may not occur.
• The value of the RSUs is subject to the volatility of the company's stock price.

Future Outlook

The vesting of the performance-based RSUs is contingent on the future stock price performance of Volato Group, Inc.

Industry Context

Insider transactions are closely monitored by investors as they can provide insights into management's perspective on the company's prospects. The acquisition of shares and performance-based RSUs by a key executive is generally viewed positively.

Comparison to Industry Standards

• RSUs and PRSUs are common forms of executive compensation in publicly traded companies.
• Vesting schedules typically range from 3 to 5 years, with performance-based vesting tied to specific financial or operational targets.
• The specific terms of the RSUs and PRSUs, such as the vesting schedule and performance targets, would need to be compared to industry benchmarks to assess their competitiveness.

Stakeholder Impact

• The acquisition of shares by a key executive could positively influence shareholder sentiment.
• The vesting schedule of the RSUs incentivizes the executive to remain with the company, benefiting employees and other stakeholders.

Key Dates

Keywords

Volato Group, SOAR, Nicholas Cooper, Form 4, Beneficial Ownership, Restricted Stock Units, Performance-Based RSUs, Insider Trading