Allegiant Travel exercises six Boeing 737-8 options
The six 737-8 aircraft are scheduled for delivery in 2028, and 74 options remain under the Boeing purchase agreement.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Allegiant Travel Company subsidiary Allegiant Air, LLC entered supplemental agreements with The Boeing Company documenting exercise of the first six options under the 2021 purchase agreement. The six 737-8 aircraft are scheduled for delivery in 2028, with a list price totaling more than $720 million, subject to discounts and price escalations through delivery. The agreement now has 56 firm aircraft, 22 delivered through October 23, 2026, and 74 remaining options.
As of October 22, 2026, Allegiant entered employment agreements expiring at the end of 2029 with CEO Gregory Anderson, President and Chief Financial Officer Robert Neal, Executive Vice President and Chief Commercial Officer Drew Wells, and Executive Vice President and Chief Operating Officer Tyler Hollingsworth. Annual salaries are $750,000 for Anderson, $525,000 for Neal, and $475,000 each for Wells and Hollingsworth. Target cash bonuses equal 180%, 150%, and 125% of annual salary, respectively; each is eligible for a target stock grant equal to 300%, 225%, and 195%, respectively. Performance-based amounts depend on annual Compensation Committee metrics and actual performance. The agreements provide specified severance benefits and accelerated vesting for termination without cause, resignation for good reason, death or disability.
8-K Event Classification
2 items: 1.01, 5.02
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Options exercised: 6 options for aircraft
List price of six aircraft: More than $720 million
Firm aircraft under purchase agreement: 56 aircraft
+5 more
8 metrics
Options exercised
6 options for aircraft
Under the 2021 purchase agreement with Boeing
List price of six aircraft
More than $720 million
Prices subject to discounts and price escalations through delivery
Firm aircraft under purchase agreement
56 aircraft
After exercise of the six options
Aircraft delivered
22 aircraft
Through October 23, 2026
Remaining options
74 options
Under the Boeing purchase agreement
Annual base salaries
Gregory Anderson: $750,000; Robert Neal: $525,000; Drew Wells and Tyler Hollingsworth: $475,000 each
Under employment agreements entered as of October 22, 2026
Target cash bonus as percentage of annual salary
Gregory Anderson: 180%; Robert Neal: 150%; Drew Wells and Tyler Hollingsworth: 125% each
Subject to adjustment based on actual performance against Compensation Committee metrics
Eligible target stock grant as percentage of annual salary
Gregory Anderson: 300%; Robert Neal: 225%; Drew Wells and Tyler Hollingsworth: 195% each
A portion is time-based and the balance is performance-based
Key Terms
firm aircraft, price escalations, threshold performance and stretch performance, accelerated vesting
4 terms
firm aircraft financial
"there are now 56 firm aircraft under the purchase agreement"
price escalations financial
"subject to discounts and price escalations through the dates of delivery"
threshold performance and stretch performance financial
"subject to adjustment between threshold performance and stretch performance"
accelerated vesting financial
"accelerated vesting of certain stock grants"
A contract feature that makes stock awards, options, or restricted shares become owned or exercisable earlier than the original schedule. It shortens or cancels the waiting period so recipients can sell, transfer, or exercise their equity sooner — think of a timed lock that is unlocked ahead of schedule. It matters to investors because it changes when shares enter the market, who controls them, and how much dilution or ownership concentration happens.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What aircraft did ALGT select under its Boeing options?
Allegiant exercised six options for 737-8 aircraft, scheduled for delivery in 2028.
What are ALGT executives' target cash bonuses and stock grants?
Target cash bonuses are 180% of annual salary for Gregory Anderson, 150% for Robert Neal, and 125% each for Drew Wells and Tyler Hollingsworth. Eligible target stock grants equal 300%, 225%, and 195% of annual salary, respectively.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
_____________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 19, 2026
| (Exact name of registrant as specified in its charter) | ||||||||||||||||||||||||||||||||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||||||||||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||||||||||||||||||||
Registrant’s telephone number, including area code: (702 ) 851-7300
| N/A | ||||||||||||||||||||||||||||||||
| (Former name or former address, if changed since last report.) | ||||||||||||||||||||||||||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Common stock, par value $0.001 | ALGT | NASDAQ Stock Market | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as in Rule 405 of the Securities Act of 1933 (Section 17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Section 17 CFR §240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 1 Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
On October 19, 2026, Allegiant Air, LLC, a subsidiary of Allegiant Travel Company (the “Company”), entered into supplemental agreements with The Boeing Company (“Boeing”) documenting the exercise by the Company of the first six options under the 2021 purchase agreement with Boeing, as heretofore amended. The supplemental agreements provide that the six aircraft will be 737-8 aircraft scheduled to be delivered in 2028. With the options being exercised, there are now 56 firm aircraft under the purchase agreement (22 of which have been delivered through October 23, 2026) and 74 remaining options. The list price of the six aircraft totals more than $720 million with the prices subject to discounts and price escalations through the dates of delivery.
The foregoing description of the supplemental agreements with Boeing does not purport to be complete and is qualified in its entirety by reference to the definitive supplements to the purchase agreement with Boeing, which the Company intends to file as exhibits to the Company’s annual report on Form 10-K for the year ending December 31, 2026.
Section 5 Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e) As of October 22, 2026, the Company entered into employment agreements with our executive officers, Gregory Anderson, Robert Neal, Drew Wells and Tyler Hollingsworth. The employment agreement with Mr. Anderson supersedes the employment agreement entered into with him in 2024.
Under the new employment agreement with Mr. Anderson, which will expire at the end of 2029, he will continue to serve as chief executive officer. Mr. Anderson will receive an annual base salary of $750,000 and the opportunity to participate in the Company’s short-term incentive cash bonus plan and long-term incentive plan for the executive officers. Under the short-term incentive plan, Mr. Anderson would receive a target cash bonus of 180% of annual base salary, subject to adjustment between threshold performance and stretch performance. The amount payable will be based on actual performance against metrics established by the Compensation Committee (the “Compensation Committee”) of the Board of Directors each year. Under the long-term incentive plan, Mr. Anderson is eligible for a target stock grant equal to 300% of his annual base salary. A portion of the stock grant will be time-based and the balance will be performance-based determined by actual performance of the Company against metrics established by the Compensation Committee each year. The performance-based portion of the grant will be adjusted between threshold performance and stretch performance based on actual performance.
Upon a termination without cause or a resignation for good reason or a termination as a result of death or disability, Mr. Anderson will receive severance benefits including salary continuation, a cash bonus, continuing fringe benefits and accelerated vesting of certain stock grants.
Under the employment agreement with Mr. Neal, which will expire at the end of 2029, he will continue to serve as president and chief financial officer of the Company.
Mr. Neal will receive an annual base salary of $525,000 and the opportunity to participate in the Company’s short-term incentive cash bonus plan and long-term incentive plan for the executive officers. Under the short-term incentive plan, Mr. Neal would receive a target cash bonus of 150% of annual base salary, subject to adjustment between threshold performance and stretch performance. The amount payable will be based on actual performance against metrics established by the Compensation Committee each year. Under the long-term incentive plan, Mr. Neal is eligible for a target stock grant equal to 225% of his annual base salary. A portion of the stock grant will be time-based and the balance will be performance-based determined by actual performance of the Company against metrics established by the Compensation Committee each year. The performance-based portion of the grant will be adjusted between threshold performance and stretch performance based on actual performance.
Upon a termination without cause or a resignation for good reason or a termination as a result of death or disability, Mr. Neal will receive severance benefits including salary continuation, a cash bonus, continuing fringe benefits and accelerated vesting of certain stock grants.
Under the employment agreements with Mr. Wells and Mr. Hollingsworth, which will expire at the end of 2029, each will continue to serve as executive vice president and chief commercial officer (Mr. Wells) or executive vice president - chief operating officer (Mr. Hollingsworth) of the Company.
Each of Mr. Wells and Mr. Hollingsworth will receive an annual base salary of $475,000 and the opportunity to participate in the Company’s short-term incentive cash bonus plan and long-term incentive plan for the executive officers. Under the short-
term incentive plan, each of Mr. Wells and Mr. Hollingsworth would receive a target cash bonus of 125% of annual base salary, subject to adjustment between threshold performance and stretch performance. The amount payable will be based on actual performance against metrics established by the Compensation Committee each year. Under the long-term incentive plan, each of Mr. Wells and Mr. Hollingsworth is eligible for a target stock grant equal to 195% of his annual base salary. A portion of the stock grant will be time-based and the balance will be performance-based determined by actual performance of the Company against metrics established by the Compensation Committee each year. The performance-based portion of the grant will be adjusted between threshold performance and stretch performance based on actual performance.
Upon a termination without cause or a resignation for good reason or a termination as a result of death or disability, each of Mr. Wells and Mr. Hollingsworth will receive severance benefits including salary continuation, a cash bonus, continuing fringe benefits and accelerated vesting of certain stock grants.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, Allegiant Travel Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: October 23, 2026 | ALLEGIANT TRAVEL COMPANY | ||||||||||
| By: | /s/ Robert Neal | ||||||||||
| Name: | Robert Neal | ||||||||||
| Title: | President, Chief Financial Officer | ||||||||||