UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(d) On May 24, 2021, the Board of Directors (“the Board”) of Air Lease Corporation (‘the Company”) increased the number of directors of the Company that constitute the entire Board from eight to nine, effective immediately.
On May 24, 2021, the Board, upon the recommendation of the Nominating and Corporate Governance Committee, elected Yvette Hollingsworth Clark as an independent director, effective immediately. The Board also appointed Ms. Clark a member of the Board’s Audit Committee.
Ms. Clark will receive the standard compensation received by non-employee directors serving on the Company’s Board. The compensation was described in the Company’s definitive proxy statement for its 2021 Annual Meeting of Stockholders (filed on March 18, 2021 with the U.S. Securities and Exchange Commission). Pursuant to the standard compensation program, an initial award of restricted stock units with an aggregate value of $180,000 based on the closing price of the Company’s stock on the date of grant, was granted to Ms. Clark on May 24, 2021, the date of her election to the Board.
Item 7.01 Regulation FD Disclosure.
A copy of the Company’s press release announcing the election of Ms. Clark as a director and her committee assignment is attached hereto as Exhibit 99.1.
The information in this Item 7.01 and the related information in Exhibit 99.1 attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | ||||
| 99.1 | Press Release dated May 25, 2021. | |||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| AIR LEASE CORPORATION | ||||||
| Date: May 26, 2021 | /s/ Carol H. Forsyte | |||||
| Carol H. Forsyte | ||||||
| Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer | ||||||