FLYHT Aerospace Solutions Ltd. (TSX-V: FLY) (OTCQX: FLYLF) (the “Company” or “FLYHT”) today announced that the Board of Directors has named Nancy N. Young and Pete Large to the Company’s Board of Directors. Ms. Young and Dr. Large will serve as independent directors.
Ms. Young currently is a globally recognized sustainability and environmental attorney and consultant with over 25 years of experience in climate change, aviation environmental matters, environmental social governance, and sustainable aviation fuels. As the Chief Sustainability Officer at Alder Fuels from April 2022 through January 2023, she established the start-up biocrude company’s environmental and sustainability legal, policy, and regulatory programs. Immediately prior to joining Alder, Ms. Young served for 14 years as the VP of Environmental Affairs at Airlines for America (A4A). From 2015 through 2016, she served on the UN Secretary-General’s High-Level Advisory Group for Sustainable Transport. Prior to joining A4A, Ms. Young was a Director/Partner at the law firm of Beveridge & Diamond, PC.
Dr. Large is a senior technology executive with years of experience spanning transportation, aviation, space, civil infrastructure and construction, including specific expertise in transforming how work is done through data-driven digital technologies that provide better business insights, decision making, efficiency, safety, first-time quality and sustainability. He currently serves as Senior Vice President at global industrial technology company Trimble Inc. He previously held positions as a Research Solutions Strategist within Boeing’s Digital Solutions and Analytics Business and as a Director at Inmarsat in the Aviation Safety & Operational Services business. He holds an Ed.D with the Aviation and Space specialization from Oklahoma State University, an M.S. in Management from the Stanford University Graduate School of Business, and a BSc(Hons) from the University of Newcastle Upon Tyne.
“Adding proven transportation and sustainability expertise to FLYHT’s Board helps validate the progress we have made in establishing our company as a leader in using real-time data and insights to improve aviation and the world around us,” commented Captain Mary I. McMillan, FLYHT’s non-executive Chairman of the Board. “With Nancy and Pete on our team, we are well positioned to address the important and complex issues of technological change in avionics, operational efficiencies, and environmental necessities. We extend a warm welcome to Nancy and Peter and look forward to working with them.”
Following today’s AGM, FLYHT granted incentive stock options for an aggregate of 449,400 common shares, subject to regulatory approval, to employees, officers, and directors under the stock option plan approved at the Annual and Special Meeting held on May 11, 2023. The stock options are exercisable at a price of $0.94 per share. The options will vest 1/3 on each of May 11, 2024, 2025 and 2026, and will expire on May 11, 2027.
Incentive stock options were also granted for an aggregate of 9,000 common shares to Satichi Consulting Inc. and 17,500 to FNK IR LLC, both of whom are engaged as investor relations consultants with FLYHT. These incentive stock options are also subject to regulatory approval and were issued under the stock option plan approved at the Annual and Special Meeting held on May 11, 2023. These stock options are exercisable at a price of $0.94 per share. The options will vest ¼ on each of August 11, 2023, November 11, 2023, February 11, 2024, and May 11, 2024, and will expire on May 11, 2027.
A maximum of 10% of the issued and outstanding shares are reserved under the Company’s stock option plan. The options are subject to a four-month resale restriction.
The Company previously announced that it would be participating in the upcoming MicroCap Rodeo investor conference in New York City on May 16 and 17. The organizer has informed all participants that it has postponed the event to a later date due to challenges that it is experiencing with the hotel venue.
This press release was prepared and distributed by Flyht
