ATSG Holds Annual Meeting of Stockholders

Rhea-AI Summary

On a virtual meeting, stockholders of Air Transport Services Group, Inc. (ATSG) re-elected nine directors to the Board. Key outcomes included the ratification of Deloitte & Touche LLP as auditors for fiscal 2022, approval of executive compensation for 2021, and amendments to the 2015 Long-Term Incentive Plan. A stockholder proposal for special meeting rights was rejected. The directors re-elected for one-year terms were Phyllis J. Campbell, Richard F. Corrado, and others. Full results will be reported in a Form 8-K with the SEC.

Positive

• Ratification of Deloitte & Touche LLP as auditors for fiscal 2022 enhances credibility.
• Approval of executive compensation indicates board confidence in management.
• Amendment of the Long-Term Incentive Plan could align executive interests with shareholder value.

Negative

• Rejection of special meeting rights proposal may limit shareholder influence.

WILMINGTON, Ohio--(BUSINESS WIRE)-- Stockholders of Air Transport Services Group, Inc. (NASDAQ:ATSG) meeting today on a virtual-only basis have re-elected nine directors to the Board of Directors.

During the meeting, stockholders also:

• Ratified the appointment of Deloitte & Touche LLP to audit the financial statements of the Company and its subsidiaries for fiscal year 2022;
• Approved on an advisory basis the compensation of the Company’s named executive officers for 2021;
• Approved the amendment and restatement of the Company’s 2015 Long-Term Incentive Plan; and
• Rejected a stockholder proposal related to the right to call special meetings.

Directors of the Company re-elected to one-year terms on the Board were Phyllis J. Campbell, Richard F. Corrado, Joseph C. Hete, Raymond E. Johns, Jr., Laura J. Peterson, Randy D. Rademacher, J. Christopher Teets, Jeffrey J. Vorholt and Paul S. Williams.

An audio replay of the meeting will be available to stockholders after Friday, May 27 at www.virtualshareholdermeeting.com/ATSG2022. ATSG will file a complete report of the results of the meeting in a Form 8-K with the U.S. Securities and Exchange Commission.

About ATSG

ATSG is a leading provider of aircraft leasing and cargo and passenger air transportation and related services to domestic and foreign air carriers and other companies that outsource their cargo and passenger air lift requirements. ATSG, through its leasing and airline subsidiaries, is the world's largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, passenger ACMI and charter services, aircraft maintenance services and airport ground services. ATSG's subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Airborne Maintenance and Engineering Services, Inc., including its subsidiary, Pemco World Air Services, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; and Omni Air International, LLC. For more information, please see www.atsginc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005859/en/

W. Joseph Payne

Chief Legal Officer & Secretary

ATSG Inc.

937-366-2686

Source: Air Transport Services Group, Inc.

FAQ

What were the results of the ATSG stockholder meeting?

The ATSG stockholder meeting resulted in the re-election of nine directors, ratified Deloitte & Touche LLP as auditors, approved executive compensation, and amended the Long-Term Incentive Plan.

Who were re-elected as directors during the ATSG meeting?

Directors re-elected include Phyllis J. Campbell, Richard F. Corrado, Joseph C. Hete, and others.

What major decisions were made during the ATSG stockholder meeting?

Major decisions included appointing Deloitte & Touche LLP as auditors and amending the Long-Term Incentive Plan.

What was the outcome of the stockholder proposal for special meetings at ATSG?

The stockholder proposal for the right to call special meetings was rejected.