Allegiant Travel Company (ALGT) has issued an announcement.
Allegiant Travel Company has revised employment agreements with executives Gregory Anderson and Scott DeAngelo, adjusting their salary structure and eliminating stock-based bonus incentives from their previous contracts. Anderson will become CEO with an annual salary of $600,000, while DeAngelo continues as CMO at $300,000 annually, both with potential for additional performance-based earnings. Concurrently, the company announced the suspension of its quarterly cash dividend due to upcoming fleet investment capital needs, and the retirement of current CEO Maurice Gallagher, who will become Executive Chairman.
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