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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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Date of Report (date of earliest event reported): March 27, 2023

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AERSALE CORPORATION

(Exact name of registrant as specified in its charter)

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Delaware

001-38801

84-3976002

(State or Other Jurisdiction of
Incorporation)

(Commission File Number)

(IRS Employer Identification
Number)

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255 Alhambra Circle, Suite 435

Coral Gables, FL 33134

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(Address of principal executive offices)

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Registrant’s telephone number, including area code:

(305) 764-3200

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Not Applicable

(Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (see General Instruction A.2. below):

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☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

ASLE

The Nasdaq Capital Market

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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Emerging growth company ☒

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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. ☐

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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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Item 5.02(d) Appointment of Director

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On March 27, 2023, AerSale Corporation (“AerSale” or the "Company"), promoted Gary Jones from the position of Division President, Airframe and Materials, to the position of Chief Operating Officer while retaining his position as Division President, Airframe and Materials, effective immediately. Mr. Jones is 59 and served as AerSale’s Division President, Airframe and Materials since 2019. From 1999 through 2019, Mr. Jones was President and Chief Executive Officer of Qwest Air Parts, a supplier and distributor of commercial aviation parts that was acquired by AerSale in 2019.

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In connection with his promotion, the base salary of Mr. Jones will be increased from $350,000 to $400,000 per annum. In addition, Mr. Jones will continue to participate in the Company’s executive compensation program as set forth in the Form 10K/A file by the Company on March 23, 2023.

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There are no arrangements or understandings that exist between Mr. Jones and any other persons pursuant to which he was selected as an officer or his new role. In addition, there are no transactions between Mr. Jones and the Company that would be reportable under Item 404(a) of Regulation S-K.

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Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

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Exhibit No.

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Description

104

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Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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AERSALE CORPORATION

 

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Date: March 31, 2023

By:

/s/ James Fry

 

Name:

James Fry

 

Title:

Executive Vice President, General Counsel & Corporate Secretary

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