On June 10, 2024, Volato Group, Inc., a Delaware-incorporated company listed on the NYSE American LLC under the trading symbols SOAR for its Class A Common Stock and SOAR.WS for its warrants, reported significant changes in executive compensation as part of its cost-saving measures. The announcement, filed with the SEC, revealed voluntary base salary reductions by the named executive officers (NEOs), as detailed in the company's April 29, 2024 proxy statement. CEO Matthew Liotta's salary was reduced to $2,400 per annum, President Keith Rabin's to $277,500, and Chief Commercial Officer Nicholas Cooper's salary was not disclosed. Other executive officers also took an average salary cut of 18%. In exchange for the salary reductions, the Board granted restricted stock units (RSUs...Show More

On June 10, 2024, Volato Group, Inc., a Delaware-incorporated company listed on the NYSE American LLC under the trading symbols SOAR for its Class A Common Stock and SOAR.WS for its warrants, reported significant changes in executive compensation as part of its cost-saving measures. The announcement, filed with the SEC, revealed voluntary base salary reductions by the named executive officers (NEOs), as detailed in the company's April 29, 2024 proxy statement. CEO Matthew Liotta's salary was reduced to $2,400 per annum, President Keith Rabin's to $277,500, and Chief Commercial Officer Nicholas Cooper's salary was not disclosed. Other executive officers also took an average salary cut of 18%. In exchange for the salary reductions, the Board granted restricted stock units (RSUs) under the 2023 Stock Incentive Plan, with Liotta receiving 370,302 RSUs, Rabin 26,877 RSUs, and Cooper 346,412 RSUs. Additional executive officers were collectively granted 245,475 RSUs. These RSUs will vest over time, contingent upon continuous employment, with 25% vesting after 12 months and the remainder vesting monthly thereafter. The RSUs are subject to the terms of the Plan and award agreements by the Board and Committee.