In 2022, Robert L. Fornaro earned $2.37M in total compensation at Spirit Airlines, including $700.00K salary, $1.11M bonus and $524.27K in stock. Most recently acquired 60,851 shares in Feb 2019. Led Spirit Airlines as CEO for 6 years.
Compensation History
Annual executive compensation data for Robert L. Fornaro, including salary, bonuses, and stock awards.
Year
2022
Total Compensation
$2.37M
Salary
$700.00K
Bonus
$1.11M
Other
$37.19K
Salary
$700.00KBoard Justification
The compensation philosophy is designed to attract and retain talented executives while aligning their interests with the company's performance and shareholder value.
Bonus
$1.11MBoard Justification
The bonus was based on the performance metrics established for the semi-annual performance periods under the 2022 STI Plan, resulting in a payout of 126.7% of the target bonus opportunity.
Other Compensation
$37.19KBoard Justification
Other compensation includes 401(k) contributions, life insurance premiums, travel benefits, and health care benefits.
Restricted Stock
Board Justification
The time-vested restricted stock units granted in January 2022 vest in equal annual installments over three years, with the first installment vesting in January 2023.
Performance Metrics
The performance metrics for the CEO's compensation included relative adjusted EBITDA margin ranking, A14 performance achievement, and strategic goals.
Robert L. Fornaro
Ex-CEO of Spirit Airlines
Education
Bachelor's degree from the University of Florida
Field of Expertise
Transportation & Logistics - Aviation
Sector of Economy
Industrials
Born
May 1, 1959 - 66 years ago
CEO of Spirit Airlines for
6 years 0 months (Jan 2016 - Jan 2022)
Previous Experience
Chairman, CEO and President of AirTran Holdings, Inc.
Holdings
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Insider Trading
Robert L. Fornaro's recent stock transactions, purchases, and sales filed with the SEC.
60,851 shares
SAVE
Feb 12, 2019
Received
1,717 shares
SAVE
Jan 11, 2019
Received
70,188 shares
SAVE
Jan 4, 2016
Received
1,196 shares
SAVE
Feb 18, 2015
Received
1,077 shares
SAVE
May 12, 2014
Received
Rivals
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