UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
(c) Delta Air Lines, Inc. (“Delta”) today announced the appointment of Daniel C. Janki, age 53, as the company’s Chief Financial Officer, effective July 12, 2021. A copy of Delta’s NewsHub story announcing Mr. Janki’s appointment is attached to this report as Exhibit 99.1.
Prior to joining Delta, Mr. Janki served as Senior Vice President of General Electric Company and the President and CEO of GE Power Portfolio, a position he has held since October 2020. Mr. Janki previously served GE as its Senior Vice President of Business Transformation (2018-2020), Senior Vice President, Treasurer and Global Business Operations (2014-2017), and Senior Vice President, CEO of GE Energy Management (2012-2013). He has also served as Vice President, Chief Financial Officer of GE Energy Infrastructure; Vice President, GE Investor Relations; CFO, GE Capital Consumer Finance (Americas); and other roles of increasing responsibility since joining GE in 1992. He also serves as a member of the Board of Directors of Cornerstone Building Brands, Inc.
Mr. Janki’s initial annual base salary will be $650,000. In addition, Mr. Janki will receive a cash signing bonus in the amount of $1,500,000 and an initial equity award of shares of Delta’s common stock equaling $4,500,000 divided by the closing stock price on the date of grant. The initial equity award of shares will vest in three equal installments on the anniversary of Mr. Janki’s date of employment. Mr. Janki’s target award under the Delta Management Incentive Plan for 2021 will be 175% of his annual base salary, prorated for actual service for the year, and his target award opportunity under the Delta Long-Term Incentive Program for 2021 is expected to be $4,500,000. Mr. Janki will also participate in Delta’s broad-based employee retirement and welfare plans, other broad-based benefits and flight benefits program available to senior executives.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit 99.1 | Delta NewsHub Story titled “Delta announces Dan Janki as its new E.V.P. and Chief Financial Officer” |
| Exhibit 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
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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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DELTA AIR LINES, INC.
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| By: /s/ Peter W. Carter | |
| Date: May 21, 2021 |
Peter W. Carter Executive Vice President and Chief Legal Officer |
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