Transportation & Logistics
Republic Airways Holdings Executive Compensation (FY25)
RJET · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025 ◇ David Grizzle | Median of the other named officers $4,630,201 6 officers, excluding the chief executive | Latest say-on-pay support = May 21, 2026 | Chief executive pay ratio ◇ To the median employee |
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Data as of November 11, 2026Latest filing (8-K): May 26, 2026
5 filings cited on this page
Method: intel.velarion.ai/methodology
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223 figures on this page: 221 cited to the filing that reported them, 2 calculated from figures it prints. See the citations
More on Republic Airways Holdings
Five data products on this company. Each one is requested through the developer setup page.
- Peer Disclosure Audit$5The comparison companies this board named, each one tied to the filing that lists it.How to get Peer Disclosure Audit
- Governance Provisions PullfreeThe governance provisions as the proxy states them: board leadership, committee membership, and shareholder rights.How to get Governance Provisions Pull
- Say-on-Pay Risk Signal$9A risk band for the next say-on-pay vote, with the support history and the peer comparison behind it.How to get Say-on-Pay Risk Signal
- NEO Comp Report$24Every named executive officer’s pay by element and year, with the citation behind each figure.How to get NEO Comp Report
- Board Comp Report$24What each non-employee director was paid, the standing fee schedule, and the equity each one holds at year end.How to get Board Comp Report
What changed from fiscal 2023 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive of record: Jonathan Ornstein → David Grizzle
Frequently asked questions
Answers drawn from the data on this page.
Who is Republic Airways Holdings' chief executive and what were they paid?
David Grizzle, Chairman and Chief Executive Officer, received $4,262,081 in total compensation for fiscal 2025.
What was Republic Airways Holdings' say-on-pay result?
The say-on-pay proposal drew 99.7% support at the meeting held May 21, 2026 for fiscal 2025.
Which companies are in Republic Airways Holdings' peer group?
Companies named in the disclosed peer group include AAR Corp., Air Lease Corporation, Air Transport Services Group, Inc., Allegiant Travel Company and ArcBest Corporation, among others.
What is Republic Airways Holdings' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 77:1, against median employee compensation of $66,387.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Jonathan Ornstein Chairman and Chief Executive Officer | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Michael Lotz Chief Financial Officer and President | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Bradford Rich Former Executive Vice President, Chief Operating Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Torque Zubeck Former Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Brian Gillman Executive Vice President, General Counsel and Secretary | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Jonathan Ornstein Chairman and Chief Executive Officer | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Michael Lotz Chief Financial Officer and President | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Bradford Rich Former Executive Vice President, Chief Operating Officer Departed during or after this year | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Brian Gillman Executive Vice President, General Counsel and Secretary | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Torque Zubeck Former Chief Financial Officer Departed during or after this year | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Matthew Koscal President and Chief Commercial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jonathan Ornstein Former Chairman and Chief Executive Officer of Mesa Departed during or after this year | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Paul Kinstedt Senior Vice President and Chief Operating Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Joseph Allman Senior Vice President and Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Chad Pulley Senior Vice President, General Counsel and Secretary | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
David Grizzle Chairman and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Michael Lotz Former Chief Financial Officer and President of Mesa Departed during or after this year | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Chad Pulley | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Chad Pulley | PSU | ◇ | — | ◇ | ◇ | — | — | ◇ |
| David Grizzle | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| David Grizzle | PSU | ◇ | — | ◇ | ◇ | — | — | ◇ |
| Jonathan G. Ornstein | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Joseph P. Allman | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Joseph P. Allman | PSU | ◇ | — | ◇ | ◇ | — | — | ◇ |
| Matthew J. Koscal | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Matthew J. Koscal | PSU | ◇ | — | ◇ | ◇ | — | — | ◇ |
| Michael J. Lotz | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Paul K. Kinstedt | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Paul K. Kinstedt | PSU | ◇ | — | ◇ | ◇ | — | — | ◇ |
Fiscal 2023 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Matthew Koscal | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| David Grizzle | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Chad Pulley | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Paul Kinstedt | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Joseph Allman | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Jonathan Ornstein | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Michael Lotz | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Severance and change in control
The terms as written in the agreements.
Jonathan Ornstein
Former Chairman and Chief Executive Officer of Mesa · Severance agreement
| Severance cash amount | ◇ |
| Non-compete period | ◇ |
| Non-solicit period | ◇ |
Joseph Allman
Senior Vice President and Chief Financial Officer · Employment agreement
| Severance multiple | ◇ |
Matthew Koscal
President and Chief Commercial Officer · Terms as announced by the company
| Severance multiple | ◇ |
Michael Lotz
Former Chief Financial Officer and President of Mesa
| Severance cash amount | ◇ |
| Equity acceleration on change in control | ◇ |
| Clawback | ◇ |
Paul Kinstedt
Senior Vice President and Chief Operating Officer · Employment agreement
| Severance multiple | ◇ |
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Barry W. Ridings Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Glenn S. Johnson | ◇ | ◇ | — | — | — | — | ◇ |
Ruth Okediji | ◇ | ◇ | — | — | — | — | ◇ |
James E. Sweetnam | ◇ | ◇ | — | — | — | — | ◇ |
Michael C. Lenz | ◇ | ◇ | — | — | — | — | ◇ |
Ellen N. Artist | ◇ | — | — | — | — | — | ◇ |
David Grizzle served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Board chair premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
| Board meeting fee | ◇ |
| Committee meeting fee | ◇ |
Equity is delivered as Restricted Stock.
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- AAR Corp. AIR
- Air Lease Corporation AL
- Air Transport Services Group, Inc. ATSG
- Allegiant Travel Company ALGT
- ArcBest Corporation ARCB
- Chorus Aviation Inc. symbol not shown
- Covenant Logistics Group, Inc. CVLG
- Forward Air Corporation FWRD
- Frontier Group Holdings, Inc. ULCC
- GATX Corporation GATX
- Hub Group, Inc. HUBG
- Matson, Inc. MATX
- RXO, Inc. RXO
- SkyWest, Inc. SKYW
- Spirit Airlines, Inc. SAVE
- Sun Country Airlines Holdings, Inc. SNCY
- Werner Enterprises, Inc. WERN
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 21, 2026 | = | ◇ | ◇ | ◇ |
| 2023 | August 14, 2024 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
Ask our research desk — $99, 24h, every figure cited to its filing.
Sample answer — “What is the CEO’s total compensation?”
- David Grizzle (Chairman and Chief Executive Officer), FY2025 total compensation $4,262,081 (base salary $270,000) [exec_comp, SEC accession 0001140361-26-014079, filed 2026-04-10]What this page does not include
Everything above is a fact Republic Airways Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Republic Airways Holdings sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $299Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $299Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $299Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
223 figures on this page: 221 cited to the filing that reported them, 2 calculated from figures it prints.
221 cited to the filing
2 calculated from the filing
Documents cited
- 0001193125-26-239613Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001140361-26-014079Director Compensation · Grants of Plan-Based Awards for Fiscal Year 2025 and Transition Year · Outstanding Equity Awards at 2025 Fiscal Year-End and End of Transition Period · Summary Compensation Table
- 0000950170-24-097702Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-24-173542
Cite this data
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Velarion, “Republic Airways Holdings executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/RJET (accessed 2026).
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The paid brief for Republic Airways Holdings
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $299 for the board report; $449 for both.
5 filings cited on this page
Method: intel.velarion.ai/methodology
If a report fails to generate we keep working until you have it. No refunds on one-time reports.
Published by Velarion Company Intelligence
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Transportation & Logistics rankings
Peers Republic Airways Holdings discloses
The companies named in RJET's own disclosed peer group.
AAR Corp.Air Lease CorporationAllegiant Travel CompanyArcBest CorporationCovenant Logistics Group, Inc.Forward Air CorporationFrontier Group Holdings, Inc.GATX CorporationHub Group, Inc.Matson, Inc.RXO, Inc.SkyWest, Inc.Spirit Airlines, Inc.Sun Country Airlines Holdings, Inc.Werner Enterprises, Inc.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}