TransDigm Group INC
For the period ended Dec 30, 2023. Filed Feb 8, 2024.
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Dec 30, 2023 · Filed Feb 8, 2024
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Item 5. OTHER INFORMATION
On December 11, 2023, Kevin Stein, the Company’s President, Chief Executive Officer and Director, entered into a new “Rule 10b5-1 trading arrangement” (as defined in Item 408 of Regulation S-K) for the sale of 60,000 shares of common stock issuable upon the exercise of vested options intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act, which Rule 10b5-1 trading arrangement is scheduled to begin on March 12, 2024 and terminate no later than December 31, 2024.
On February 6, 2024, the Company and Kevin Stein entered into an amendment to Mr. Stein's existing employment agreement. The amendment (1) extends the term of his employment under the agreement through October 1, 2029; (2) updates his annual cash incentive target from 125% to 150% of annual base salary; and (3) acknowledges the applicability of the Company’s updated NYSE-compliant clawback policy.
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