FlyExclusive launches Employee Stock Ownership Plan

Following its IPO FlyExclusive is giving all eligible employees a grant of 100 shares of common stock.

By Doug Gollan, January 4, 2024

After going public via a SPAC merger last week, FlyExclusive is awarding eligible employees 100 shares of stock.

The move was announced in an email to employees by Founder and CEO Jim Segrave earlier today.

In the message, Segrave wrote:

While this is an exciting time, it is not the final destination for the company or for me personally. It is, however, an important milestone on our journey to build a generational company. As a public company, we now have investors who have placed their trust in all of us to execute the business plan and to deliver financial results. This is a huge responsibility and one I ask you to take very seriously.

To that end, I want all of you to be part of the ownership of flyExclusive. I am pleased to let you know that you are being awarded 100 shares of the common stock of flyExclusive, Inc.

According to an 8-K filing earlier today, the company has reserved 1.5 million shares for the Employee Stock Ownership Plan, or ESOP.

According to the filing, the plan was approved during the company’s recent stockholders’ special meeting.

A company representative declined to comment.

The stock trades under FLYX and ended the day up 7.83% at $6.20.

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