v3.25.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Pay vs Performance Disclosure  
Pay vs Performance Disclosure, Table

Pay Versus Performance

The following table sets forth information concerning the compensation of our NEOs for the fiscal year ended December 31, 2024, and our financial performance for such fiscal year:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100
Investment Based on:

 

 

 

 

 

 

 

Year

 

Summary
Compensation
Table Total
for PEO ($)

 

 

Compensation
Actually Paid
to PEO
($)(1)(2)

 

 

Average
Summary
Compensation
Table Total
for
Non-PEO
NEOs ($)

 

 

Average
Compensation
Actually Paid
to Non-PEO
NEOs ($)(1)(2)

 

 

Total
Shareholder
Return
($)(3)

 

 

Peer Group
Total
Shareholder
Return
($)(4)

 

 

Net
Income ($)

 

 

Management EBITDA ($)(5)

 

2024

 

 

2,390,449

 

 

 

27,186,540.63

 

 

 

3,401,846

 

 

 

6,343,645.26

 

 

 

75.60

 

 

 

93.40

 

 

 

10,974,106

 

 

 

644,153,000

 

 

(1)
Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the fiscal year ended December 31, 2024, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for such fiscal year:

 

Year

 

PEO

 

Non-PEO NEOs

 

 

 

 

 

 

 

2024

 

Russell Ford

 

Daniel Satterfield, Kim Ashmun, Kim Ernzen and Lewis Prebble

 

 

Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the fiscal year ended December 31, 2024, as adjusted as follows:

 

 

 

2024

 

Adjustments

 

PEO ($)

 

 

Average Non-PEO
NEOs ($)

 

Deduction for Amounts Reported under the “Stock Awards” and “Option Awards”
Columns in the Summary Compensation Table for Applicable FY

 

 

—

 

 

 

(2,478,216

)

Increase based on ASC 718 Fair Value of Awards Granted during Applicable
FY that Remain Unvested as of Applicable FY End, determined as of
Applicable FY End

 

 

—

 

 

 

2,448,523

 

Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY
that Vested during Applicable FY, determined as of Vesting Date

 

 

—

 

 

 

—

 

Increase/deduction for Awards Granted during Prior FY that were Outstanding
and Unvested as of Applicable FY End, determined based on change in ASC 718
Fair Value from Prior FY End to Applicable FY End

 

 

24,796,092

 

 

 

2,971,492

 

Increase/deduction for Awards Granted during Prior FY that Vested During
Applicable FY, determined based on change in ASC 718 Fair Value from
Prior FY End to Vesting Date

 

 

—

 

 

 

—

 

Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were
Forfeited during Applicable FY, determined as of Prior FY End

 

 

—

 

 

 

—

 

Increase based on Dividends or Other Earnings Paid during Applicable FY prior to
Vesting Date

 

 

—

 

 

 

—

 

Increase based on Incremental Fair Value of Options/SARs Modified during
Applicable FY

 

 

—

 

 

 

—

 

Deduction for Change in the Actuarial Present Values reported under the “Change in
Pension Value and Nonqualified Deferred Compensation Earnings” Column of
the Summary Compensation Table for Applicable FY

 

 

—

 

 

 

—

 

Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans

 

 

—

 

 

 

—

 

TOTAL ADJUSTMENTS

 

$

24,796,092

 

 

$

2,941,799

 

 

(2)
Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for solely service-vesting restricted awards, the price per share on the applicable year-end date(s) (which was $13.41 and $24.76 as of December 31, 2023 and December 31, 2024, respectively); (ii) for performance-based restricted stock awards, the same valuation methodology as restricted stock awards above except that the year-end values are multiplied by the probability of achievement of the applicable performance objective as of the applicable date. For additional information on the assumptions used to calculate the valuation of the awards, see Note 19 to the audited consolidated financial statements included in our Annual Report incorporated by reference herein.
(3)
Represents our cumulative total stockholder return (“TSR”) for the period commencing on October 2, 2024 (the date on which our common stock commenced trading on the New York Stock Exchange) until December 31, 2024.
(4)
Represents the cumulative TSR (the “Peer Group TSR”) of the S&P Aerospace & Defense Select Index for the period commencing on October 2, 2024 (the date on which our common stock commenced trading on the New York Stock Exchange) until December 31, 2024.
Management EBITDA is a non-GAAP measure. For additional details regarding how this measure is calculated from the nearest GAAP counterpart in the Company’s audited financial statements, please see the section titled “Cash Incentive Compensation” in the CD&A above.
Non-PEO NEO Average Total Compensation Amount $ 3,401,846,000
Non-PEO NEO Average Compensation Actually Paid Amount $ 6,343,645,260
Tabular List, Table

Pay Versus Performance Tabular List

We believe the following performance measures represent the most important financial performance measures used by us to link compensation actually paid to our NEOs for the fiscal year ended December 31, 2024:

•
Management EBITDA;
•
Revenue; and
•
Operating cash flow.
Total Shareholder Return Amount $ 75,600
Peer Group Total Shareholder Return Amount 93,400
Net Income (Loss) $ 10,974,106,000
Company Selected Measure Amount 644,153,000,000
Adjustment to Compensation, Amount $ 2,941,799,000
Measure:: 1  
Pay vs Performance Disclosure  
Name Management EBITDA
Measure:: 2  
Pay vs Performance Disclosure  
Name Revenue
Measure:: 3  
Pay vs Performance Disclosure  
Name Operating cash flow
Russell Ford [Member]  
Pay vs Performance Disclosure  
PEO Total Compensation Amount $ 2,390,449,000
PEO Actually Paid Compensation Amount $ 27,186,540,630
PEO Name Russell Ford
PEO  
Pay vs Performance Disclosure  
Adjustment to Compensation, Amount $ 24,796,092,000
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested  
Pay vs Performance Disclosure  
Adjustment to Compensation, Amount 24,796,092,000
Non-PEO NEO | Equity Awards Adjustments  
Pay vs Performance Disclosure  
Adjustment to Compensation, Amount (2,478,216,000)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested  
Pay vs Performance Disclosure  
Adjustment to Compensation, Amount 2,448,523,000
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested  
Pay vs Performance Disclosure  
Adjustment to Compensation, Amount $ 2,971,492,000