UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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. |
On January 3, 2025, Tracey Patterson notified AAR CORP. (the “Company”) that she has accepted another professional opportunity outside of the Company and the aviation industry. She will depart from her current position as Senior Vice President and Chief Human Resources Officer and as an employee of the Company effective January 10, 2025 to allow for the appropriate transition.
In connection with Ms. Patterson joining the Company in 2023, Ms. Patterson was awarded time-based restricted stock with a grant date fair value of approximately $300,000 that was intended to replace compensation that Ms. Patterson had to forego in connection with her departure from her former employer. As this award will be substantially earned based on service through her departure date, the Company has agreed to pay Ms. Patterson $300,000, a cash amount representing the approximate value of this unvested stock award. As a condition of this payment, Ms. Patterson agreed to a release of claims and customary confidentiality and restricted covenant provisions, including non-disparagement and non-solicitation.
SIGNATURES
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 hereunto duly authorized.
Date: January 7, 2025
| AAR CORP. | ||
| By: | /s/ Jessica A. Garascia | |
| Jessica A. Garascia | ||
|
Senior Vice President, General Counsel, Chief Administrative Officer and Secretary | ||