Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
This is the complete answer, not a partial one — the list is never padded.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Matthew Koscal | $540,000 | $0 | $4,665,000 | $0 | $2,329,522 | $0 | $25,949 | $7,560,471 |
| President and Chief Commercial Officer | ||||||||
| Jonathan Ornstein | 553,846 | 558,915 | 191,085 | 0 | 450,000 | 0 | 3,744,615 | 5,498,461 |
| Former Chairman and Chief Executive Officer of Mesa | ||||||||
| Paul Kinstedt | 500,000 | 0 | 2,265,000 | 0 | 1,839,256 | 0 | 28,916 | 4,633,172 |
| Senior Vice President and Chief Operating Officer | ||||||||
| Joseph Allman | 500,000 | 0 | 2,265,000 | 0 | 1,839,256 | 0 | 22,973 | 4,627,229 |
| Senior Vice President and Chief Financial Officer | ||||||||
| Chad Pulley | 435,000 | 0 | 2,346,000 | 0 | 1,478,963 | 0 | 24,241 | 4,284,204 |
| Senior Vice President, General Counsel and Secretary | ||||||||
| David Grizzle | 270,000 | 0 | 3,326,400 | 0 | 540,000 | 0 | 125,681 | 4,262,081 |
| Chairman and Chief Executive Officer | ||||||||
| Michael Lotz | 533,333 | 437,960 | 149,733 | 0 | 352,000 | 0 | 34,287 | 1,507,313 |
| Former Chief Financial Officer and President of Mesa | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Matthew Koscal | $7,560,471 | — | — | — |
| Jonathan Ornstein | 5,498,461 | — | — | — |
| Paul Kinstedt | 4,633,172 | — | — | — |
| Joseph Allman | 4,627,229 | — | — | — |
| Chad Pulley | 4,284,204 | — | — | — |
| David Grizzle | 4,262,081 | — | — | — |
| Michael Lotz | 1,507,313 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Joseph Allman | PSU | 2025-06-01 | — | 36,942 | — | — | $1,894,800 |
| Joseph Allman | RSU | 2025-04-01 | — | — | 24,059 | — | 370,200 |
| David Grizzle | PSU | 2025-07-02 | — | 57,356 | — | — | 2,941,800 |
| David Grizzle | RSU | 2025-07-02 | — | — | 16,846 | — | 259,200 |
| Paul Kinstedt | RSU | 2025-04-01 | — | — | 24,059 | — | 370,200 |
| Paul Kinstedt | PSU | 2025-06-01 | — | 36,942 | — | — | 1,894,800 |
| Matthew Koscal | PSU | 2025-06-01 | — | 80,845 | — | — | 4,146,600 |
| Matthew Koscal | RSU | 2025-04-01 | — | — | 33,691 | — | 518,400 |
| Michael Lotz | RSU | 2025-06-02 | — | — | 9,786 | — | 149,732 |
| Jonathan Ornstein | RSU | 2025-06-02 | — | — | 12,489 | — | 191,084 |
| Chad Pulley | PSU | 2025-06-01 | — | 40,311 | — | — | 2,067,600 |
| Chad Pulley | RSU | 2025-04-01 | — | — | 18,093 | — | 278,400 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Joseph Allman | $370,200 | $1,894,800 | $0 | 83.7% |
| David Grizzle | 259,200 | 2,941,800 | 0 | 91.9% |
| Paul Kinstedt | 370,200 | 1,894,800 | 0 | 83.7% |
| Matthew Koscal | 518,400 | 4,146,600 | 0 | 88.9% |
| Michael Lotz | 149,732 | 0 | 0 | 0.0% |
| Jonathan Ornstein | 191,084 | 0 | 0 | 0.0% |
| Chad Pulley | 278,400 | 2,067,600 | 0 | 88.1% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Matthew Koscal | RSU | 188,638 | — | $3,465,282 |
| David Grizzle | RSU | 133,829 | — | 2,458,439 |
| Chad Pulley | RSU | 94,060 | — | 1,727,877 |
| Joseph Allman | RSU | 86,199 | — | 1,583,470 |
| Paul Kinstedt | RSU | 86,199 | — | 1,583,470 |
| Matthew Koscal | PSU | 80,845 | — | 1,485,121 |
| David Grizzle | PSU | 57,356 | — | 1,053,621 |
| Chad Pulley | PSU | 40,311 | — | 740,519 |
| Joseph Allman | PSU | 36,942 | — | 678,630 |
| Paul Kinstedt | PSU | 36,942 | — | 678,630 |
| Matthew Koscal | RSU | 22,460 | — | 412,594 |
| Jonathan Ornstein | RSU | 17,627 | — | 306,718 |
| Joseph Allman | RSU | 16,040 | — | 294,652 |
| Paul Kinstedt | RSU | 16,040 | — | 294,652 |
| Michael Lotz | RSU | 13,813 | — | 240,342 |
| Chad Pulley | RSU | 12,062 | — | 221,577 |
| David Grizzle | RSU | 11,230 | — | 206,297 |
| Jonathan Ornstein | RSU | 4,498 | — | 78,264 |
| Michael Lotz | RSU | 3,562 | — | 61,985 |
| Jonathan Ornstein | RSU | 3,219 | — | 56,006 |
| Michael Lotz | RSU | 2,515 | — | 43,755 |
Our compensation program is designed to attract, retain, and reward capable employees who can contribute to its future success, principally by linking performance-based compensation with the attainment of key business objectives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | — |
| Anti-hedging | — |
| Anti-pledging | — |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-21 | 38,417,100 | 135,353 | 6,978 | 99.65% | Passed |
| 2024 | 2024-08-14 | 6,190,017 | 901,584 | 211,300 | 87.29% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-21 | 99.65%a |
| 2024 | 2024-08-14 | 87.29%b |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Barry W. RidingsIndependent · Lead Independent Director · Compensation Committee (Chair) | $127,500 | $125,400 | — | — | — | $252,900 |
| Glenn S. JohnsonIndependent · Audit Committee (Chair) | 124,000 | 125,400 | — | — | — | 249,400 |
| Ruth OkedijiIndependent · Compensation Committee · Corporate Governance Committee (Chair) | 117,750 | 125,400 | — | — | — | 243,150 |
| James E. SweetnamIndependent · Audit Committee · Corporate Governance Committee | 113,750 | 125,400 | — | — | — | 239,150 |
| Michael C. LenzIndependent · Audit Committee · Corporate Governance Committee | 106,750 | 125,400 | — | — | — | 232,150 |
| Ellen N. ArtistIndependent · Compensation Committee | 24,500 | 0 | — | — | — | 24,500 |
| David GrizzleEmployee director · Board Chair | 0 | 0 | — | — | — | 0 |
| Annual cash retainer | $85,000 |
|---|---|
| Annual equity retainer | $125,000 |
| Per board meeting fee | $1,000 |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 20,000 / 10,000 |
| Stock ownership guideline | For discussion of other policies that relate to our compensation philosophy and policies, see “The Board of Directors and Certain Governance Matters— Stock Ownership Guidelines,” |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $614,250 |
| Equity awards (grant-date value) | $627,000 |
| All other compensation | $0 |
| Total cost of the board | $1,241,250 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Republic Airways Holdings | 2025 | David Grizzle | $270,000 | $3,326,400 | $0 | $540,000 | $4,262,081 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Matthew Koscal | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Summary Compensation Table” · page 28. As printed: 7,560,471. Filing ↗machine: r3 · c21 · span 523863–523873 |
| 2 | Section 01, Jonathan Ornstein | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Summary Compensation Table” · page 28. As printed: 5,498,461. Filing ↗machine: r11 · c21 · span 556494–556504 |
| 3 | Section 01, Paul Kinstedt | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Summary Compensation Table” · page 28. As printed: 4,633,172. Filing ↗machine: r7 · c21 · span 540267–540277 |
| 4 | Section 01, Joseph Allman | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Summary Compensation Table” · page 28. As printed: 4,627,229. Filing ↗machine: r5 · c21 · span 532092–532102 |
| 5 | Section 01, Chad Pulley | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Summary Compensation Table” · page 28. As printed: 4,284,204. Filing ↗machine: r9 · c21 · span 548540–548550 |
| 6 | Section 01, David Grizzle | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Summary Compensation Table” · page 28. As printed: 4,262,081. Filing ↗machine: r2 · c21 · span 519534–519544 |
| 7 | Section 01, Michael Lotz | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Summary Compensation Table” · page 28. As printed: 1,507,313. Filing ↗machine: r15 · c21 · span 571419–571429 |
| 8 | Section 03, Joseph Allman PSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 667755–667765 |
| 9 | Section 03, Joseph Allman RSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 662336–662343 |
| 10 | Section 03, David Grizzle PSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 626587–626597 |
| 11 | Section 03, David Grizzle RSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗ |
| 12 | Section 03, Paul Kinstedt RSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 682345–682352 |
| 13 | Section 03, Paul Kinstedt PSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 686840–686850 |
| 14 | Section 03, Matthew Koscal PSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 645632–645642 |
| 15 | Section 03, Matthew Koscal RSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗ |
| 16 | Section 03, Michael Lotz RSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 719632–719639 |
| 17 | Section 03, Jonathan Ornstein RSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 714031–714038 |
| 18 | Section 03, Chad Pulley PSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗machine: span 709000–709010 |
| 19 | Section 03, Chad Pulley RSU | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year” · grants of plan-based awards table. Filing ↗ |
| 20 | Section 08, Barry W. Ridings | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Director Compensation”. As printed: 252,900. Filing ↗machine: span 1063346–1063353 |
| 21 | Section 08, Glenn S. Johnson | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Director Compensation”. As printed: 249,400. Filing ↗machine: span 1057555–1057562 |
| 22 | Section 08, Ruth Okediji | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Director Compensation”. As printed: 243,150. Filing ↗machine: span 1061343–1061350 |
| 23 | Section 08, James E. Sweetnam | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Director Compensation”. As printed: 239,150. Filing ↗machine: span 1065123–1065130 |
| 24 | Section 08, Michael C. Lenz | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Director Compensation”. As printed: 232,150. Filing ↗machine: span 1059571–1059578 |
| 25 | Section 08, Ellen N. Artist | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Director Compensation”. As printed: 24,500. Filing ↗machine: span 1066018–1066024 |
| 26 | Section 08, David Grizzle | DEF 14A | 2026-04-10 | 0001140361-26-014079 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 27 | Section 06, 2026 vote | Form 8-K | 2026-05-26 | 0001193125-26-239613 | Item 5.07 · say-on-pay result. As reported: 99.65% (votes for as printed: 38,417,100). Filing ↗ |
| 28 | Section 06, 2024 vote | Form 8-K | 2024-08-16 | 0000950170-24-097702 | Item 5.07 · say-on-pay result. As reported: 87.29% (votes for as printed: 6,190,017). Filing ↗ |
| 29 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 30 | Section 09b board cost (computed) | Computed | — | computed | Cash 614,250 + equity 627,000 + all other 0 = 1,241,250, summed across the director compensation table rows.machine: formula: Σ = 1,241,250 |
| 31 | Republic Airways Holdings (subject), Section 10b CEO total | DEF 14A | 2026-04-10 | 0001140361-26-014079 | CEO total compensation as printed in Republic Airways Holdings's own proxy. As printed: 4,262,081. Filing ↗machine: r2 · c21 · span 519534–519544 |