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SCOTTSDALE, AZ - StandardAero , Inc., a key player in the aircraft engines and engine parts industry with a market capitalization of $8.89 billion and annual revenue of nearly $5 billion, announced the appointment of Derek J. Kerr as a Class III director, effective Monday. The decision was made by the company’s Board of Directors on February 18, 2025, according to a recent SEC filing. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.11, though it trades at a premium valuation multiple.
Kerr, whose appointment aligns with the company’s strategic direction, will participate in StandardAero’s Non-Employee Director Compensation Program. Under this program, he will receive an annual cash retainer of $100,000 for his services on the board. Additionally, Kerr will be granted restricted stock units (RSUs) valued at $175,000, pro-rated based on his appointment date. The RSUs will vest on the earlier of the day before the next annual stockholders’ meeting or the first anniversary of the grant date, contingent upon Kerr’s ongoing board service.
The new director was nominated by affiliates of The Carlyle Group (NASDAQ:CG) Inc., StandardAero’s controlling shareholder, under a Stockholders Agreement dated October 1, 2024. Kerr has also signed the company’s standard indemnification agreement for directors and officers, which is a routine procedure for board appointments.
Kerr’s appointment does not stem from any familial ties with current directors or executive officers, nor does he have a material interest in any transaction requiring disclosure under SEC regulations.
The announcement comes as StandardAero continues to solidify its governance structure and strategic oversight. The company, headquartered in Scottsdale, Arizona, is known for its manufacturing operations in the aerospace sector and is listed on the New York Stock Exchange under the ticker symbol (NYSE:SARO). According to InvestingPro data, StandardAero operates with a gross profit margin of 14.25% and is expected to report its next earnings on February 26, 2025. Subscribers to InvestingPro can access 8 additional key insights about the company’s financial health and growth prospects.
This new development is expected to contribute to the company’s ongoing efforts to enhance its leadership and corporate governance. StandardAero’s engagement with The Carlyle Group Inc. reflects a continued partnership aimed at steering the company towards sustained growth and market leadership. With the stock currently trading at $27.23, analysis from InvestingPro indicates the shares may be overvalued at current levels, despite expectations for net income growth this year.
The information regarding this appointment is based on a press release statement filed with the Securities and Exchange Commission.
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