Management ChangeJul 23, 2026, 08:22 AM
Volato Appoints David Allen to Board; CFO Heinen Gets New Pact
AI Summary
Volato Group, Inc. appointed David Allen as an independent director to its Board, where he will chair the Audit Committee and serve on other key committees. Concurrently, the company approved a new Executive Employment Agreement for CFO Mark Heinen, setting his annual base salary at $310,000 and providing annual incentive bonuses up to 200% of his base salary. Mr. Heinen also received a one-time cash performance bonus of $50,000 and a retention bonus of $100,000.
Key Highlights
- David Allen appointed as independent director to Volato's Board.
- Mr. Allen to chair Audit Committee; also on Nominating & Governance and Compensation Committees.
- CFO Mark Heinen's new employment agreement sets annual base salary at $310,000.
- Heinen's annual incentive bonus opportunity targets 100% of base salary, up to 200%.
- Severance payment for Heinen equals 12 months of base salary for qualifying terminations.
- Heinen receives a one-time cash performance bonus of $50,000.
- Heinen receives a one-time retention bonus of $100,000.
Price Impact
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