Management ChangeMay 22, 2026, 04:37 PM
Surf Air Mobility Chairman Carl Albert Not Seeking Re-election; Pelsinger Named Successor
AI Summary
Surf Air Mobility Inc. announced that Carl Albert, the current Chairman of the Board, will not seek re-election at the upcoming 2026 Annual Meeting of Shareholders on July 24, 2026. Mr. Albert will transition to the role of Chairman Emeritus and serve as an advisor to the Board under an Advisory Services Agreement. Concurrently, Shawn Pelsinger has been elected as the successor Chairman, effective as of the Annual Meeting. Mr. Albert's decision was not due to any disagreement with the company.
Key Highlights
- Carl Albert, Chairman of Surf Air Mobility, will not seek re-election at the 2026 Annual Meeting.
- Shawn Pelsinger has been elected as the successor Chairman, effective July 24, 2026.
- Mr. Albert will transition to Chairman Emeritus and serve as an advisor to the Board.
- The Advisory Services Agreement is for one year, effective July 24, 2026.
- Mr. Albert will receive an annual fee of $110,000 for advisory services.
- He will also receive annual equity compensation with a grant-date value of approximately $165,000.
- A one-time equity award of 1,000,000 shares will be granted, with 750,000 shares vesting immediately.
- The remaining 250,000 shares will vest on the one-year anniversary of the agreement's effective date.
Price Impact
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