Robert L. Fornaro has been navigating the aviation industry for decades. He became the CEO of Spirit Airlines in January 2016, after serving as President of a travel advisory firm and holding top positions at AirTran Airways. Fornaro graduated with...

Current Market Cap

$251.85M

Number of Employees

13.17K

Total Compensation

2018 - 2022

Trending up by 33.91% last year
Showing total compensation for the last 2018 - 2022

Stock

Up by 0.00% last year

Salary

Up by 0.00% last year

Bonus

Up by 6.81% last year

Other

Up by 16.20% last year

Year

2022

Total Compensation

$2.37M

Salary

$700.00K

Board 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

$1.11M

Board 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

$37.19K

Board Justification

Other compensation includes 401(k) contributions, life insurance premiums, travel benefits, and health care benefits.

Restricted Stock

$524.27K(26.91K RSU)

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.

SEC Filing

From March 30, 2023