Allegiant Sets $26,250 Monthly Advisor Fee for Sun Country CEO and Adds Three Sun Country Nominees to Board

Allegiant will compensate Sun Country CEO Jude Bricker $26,250 monthly for post-merger advisory services, concurrently expanding its board to include Bricker and two other Sun Country nominees.

Allegiant is moving forward with its planned acquisition of Sun Country Airlines. This merger seeks to integrate Sun Country's operations and expertise into Allegiant's existing framework, creating a larger combined entity. This process involves strategic decisions regarding leadership and governance.

Post-merger, Allegiant will pay Jude Bricker, Sun Country's current President and CEO, $26,250 each month for his advisory services. This compensation is separate from any director fees Bricker may receive. He will operate as an independent contractor, focusing on critical integration tasks.

Bricker’s advisory responsibilities include guiding the unification process, specifically aiming to secure a single operating certificate for both Allegiant Air and Sun Country. His role also encompasses retaining crucial charter and cargo customers, maintaining Sun Country's business relationships, and providing industry consultation. This structure aims to ensure operational continuity and a smooth transition during the consolidation period.

Allegiant's board of directors will expand by three seats immediately following the merger's completion. All three new director positions will be filled by nominees from Sun Country Airlines. This move introduces new perspectives directly from the acquired company's leadership.

Sun Country CEO Jude Bricker is one of the designated additions to Allegiant's board. Allegiant's nominating committee has also approved Jennifer Vogel and Thomas Kennedy, both current Sun Country board members, to join. Upon their appointments, these individuals will receive compensation consistent with Allegiant's standard program for non-employee directors.

These appointments and the advisory agreement highlight Allegiant's strategy to leverage Sun Country's executive knowledge and operational insights during the integration phase. Bringing key Sun Country leaders onto Allegiant's board and into advisory roles aims to streamline decision-making and ensure a cohesive approach to combining the airlines. The inclusion of previous Sun Country board members ensures a direct channel for understanding the acquired company's structure and operations.

Market observers will now monitor how these leadership and governance changes influence the pace and effectiveness of the merger's integration and the combined entity's competitive performance.