Item 9A. Controls and Procedures
Item 9A. Controls and Procedures
Evaluation of disclosure controls and procedures. As of the end of the period covered by this report, under the supervision and with the participation of our management, including our CEO and chief financial officer (“CFO”), we evaluated the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended, or the “Exchange Act”). Based on that evaluation, management, including our CEO and CFO, has concluded that our disclosure controls and procedures are designed, and are effective, to give reasonable assurance that the information we are required to disclose is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and is accumulated and communicated to the Company’s management, including the CEO and the CFO, as appropriate to allow timely decisions regarding required disclosure.
Changes in internal controls. There were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) that occurred during the fourth quarter of our year ended December 31, 2022, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Management’s Annual Report on Internal Control over Financial Reporting. Management, under the supervision of the CEO and CFO, is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act. Our management has assessed the effectiveness of our internal control over financial reporting as of December 31, 2022. In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) Internal Control - Integrated Framework (2013 Framework). Based on the assessment, management has concluded that, as of December 31, 2022, our internal control over financial reporting was effective based on those criteria.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. As such, even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.
We intend to review and evaluate the design and effectiveness of our disclosure controls and procedures and internal control over financial reporting on a regular basis, to improve these controls and procedures over time, and to correct any deficiencies that may be discovered. Future events affecting our business may cause us to modify our controls and procedures.
Our independent registered public accounting firm has issued an attestation report regarding its assessment of the effectiveness of our internal control over financial reporting as of December 31, 2022.
Item 9B. Other Information
Not applicable.
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Not applicable.
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Report of Independent Registered Public Accounting Firm
To the Shareholders and Board of Directors
Allegiant Travel Company:
Opinion on Internal Control Over Financial Reporting
We have audited Allegiant Travel Company and subsidiaries' (the Company) internal control over financial reporting as of December 31, 2022, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2022, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of the Company as of December 31, 2022 and 2021, the related consolidated statements of income, comprehensive income, shareholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2022, and the related notes (collectively, the consolidated financial statements), and our report dated February 27, 2023 expressed an unqualified opinion on those consolidated financial statements.
Basis for Opinion
The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management's Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.
Definition and Limitations of Internal Control Over Financial Reporting
A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
/s/ KPMG LLP
Dallas, Texas
February 27, 2023
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PART III
Item 10. Directors, Executive Officers, and Corporate Governance
The information required by this Item is incorporated herein by reference to the data under the headings “ELECTION OF DIRECTORS,” “EXECUTIVE OFFICERS” and “Section 16(a) Beneficial Ownership Reporting Compliance” in the Proxy Statement to be used in connection with the solicitation of proxies for our annual meeting of shareholders to be held June 21, 2023, which Proxy Statement is to be filed with the Commission.
Item 11. Executive Compensation
The information required by this Item is incorporated herein by reference to the data under the headings “EXECUTIVE COMPENSATION” and “REPORT OF THE COMPENSATION COMMITTEE” in the Proxy Statement to be used in connection with the solicitation of proxies for our annual meeting of shareholders to be held June 21, 2023, which Proxy Statement is to be filed with the Commission.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
The information required by this Item is incorporated herein by reference to the data under the heading “STOCK OWNERSHIP” in the Proxy Statement to be used in connection with the solicitation of proxies for our annual meeting of shareholders to be held June 21, 2023, which Proxy Statement is to be filed with the Commission. The information required by this item with respect to securities authorized for issuance under our equity compensation plans is included in Part II, Item 5 of this Annual Report on Form 10-K.
Item 13. Certain Relationships and Related Transactions, and Director Independence
The information required by this Item is incorporated herein by reference to the data under the heading “RELATED PARTY TRANSACTIONS” and “Director Independence” in the Proxy Statement to be used in connection with the solicitation of proxies for our annual meeting of shareholders to be held June 21, 2023, which Proxy Statement is to be filed with the Commission.
Item 14. Principal Accountant Fees and Services
Our Independent registered public accounting firm is KPMG LLP , Dallas, TX , Auditor Firm ID: 185
The information required by this Item is incorporated herein by reference to the data under the heading “PRINCIPAL ACCOUNTANT FEES AND SERVICES” in the Proxy Statement to be used in connection with the solicitation of proxies for our annual meeting of shareholders to be held June 21, 2023, which Proxy Statement is to be filed with the Commission.
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PART IV
Item 15. Exhibits and Financial Statement Schedules
— Financial Statements and Supplementary Data. The financial statements included in Item 8 - Financial Statements and Supplementary Data above are filed as part of this annual report.
— Financial Statement Schedules. Schedules are not submitted because they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto.
— Exhibits. The Exhibits listed below are filed or incorporated by reference as part of this Form 10-K. Where so indicated, exhibits which were previously filed are incorporated by reference.
Exhibit
Number Description
3.1 Articles of Incorporation of Allegiant Travel Company ( i ncorporated by reference to Exhibit 3.1 to Registration Statement No. 333-134145 filed with the Commission on July 6, 2006).
3.2 Bylaws of Allegiant Travel Company as amended on July 25, 20 22 ( i ncorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K, filed with the Commission on July 28, 2022 ).
3.3 Specimen Stock Certificate ( i ncorporated by reference to Exhibit 3.3 to the Form 8-A filed with the Commission on November 22, 2006).
4.1 Indenture, dated as of October 7, 2020, by and among Allegiant Travel Company, the guarantors party thereto and Wilmington Trust, National Association, as trustee and collateral agent, governing the 8.500% Senior Secured Notes due 2024 (incorporated by reference to Exhibit 4.1 to Current Report on Form 8-K filed with the Commission on October 7, 2020).
4.2 Form of 8.500% Senior Secured Notes due 2024 (incorporated by reference to Exhibit A to Exhibit 4.1).
4.3 First Lien Intercreditor Agreement, dated as of October 7, 2020, between Barclays Bank PLC, as Authorized Representative for the Credit Agreement Secured Parties, Wilmington Trust, National Association, as First Lien Notes Collateral Agent and Authorized Representative for the First Lien Notes Secured Parties ( i ncorporated by reference to Exhibit 4.3 to Current Report on Form 8- K filed with the Commission on October 7, 2020) .
4.4 Warrant Agreement dated April 20, 2020 between the Company and the U.S. Department of the Treasury ( i ncorporated by reference to Exhibit 10.3 to Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed with the Commission on May 22, 2020) .
4.5 Form of PSP Warrant (included in Exhibit 4.4 as Annex B thereto)
4.6 PSP2 Warrant Agreement dated as of January 15, 2021, between the Company and the United States Department of the Treasury ( i ncorporated by reference to Exhibit 4.3 to the Current Report on Form 8-K filed with the Commission on October 6, 2021).
4.7 Form of PSP 2 Warrant (Included in Exhibit 4.6 as Annex B thereto).
4.8 Indenture, dated as of August 17, 2022, by and among Allegiant Travel Company, the guarantors party thereto and Wilmington Trust, National Association, as trustee and collateral agent, governing the 7.250% Senior Secured Notes due 2027 ( i ncorporated by reference to Exhibit 4.1 to the Current Report on Form 8- K , filed with the Commission on August 17, 2022).
4.9 Form of 7.250% Senior Secured Notes due 2027 (incorporated by reference to Exhibit A to Exhibit 4.8 above ).
4.10 Description of S ecurities
10.1 Airport Use and Lease Agreement signed on March 17, 2011 between the Company and Clark County Department of Aviation ( i ncorporated by reference to Exhibit 10.20 to the Annual Report on Form 10-K for the year ended December 31, 2011, filed with the Commission on February 27, 2012-SEC File No. 001-33166).
10.2 Form of Indemnification Agreement ( i ncorporated by reference to Exhibit 10.4 to the Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Commission on February 26, 2013-SEC File No. 001-33166).
10.3 2016 Long-Term Incentive Plan ( i ncorporated by reference to Exhibit 10.6 to Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the Commission on November 1, 2016 ) . (1)
10.4 Form of Restricted Stock Agreement used for Directors of the Company under the 2016 Long-term Incentive Plan ( i ncorporated by reference to Exhibit 10.7 to Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the Commission on November 1, 2016 ) . (1)
10.5 Form of Restricted Stock Agreement used for Employees of the Company under the 2016 Long-Term Incentive Plan ( i ncorporated by reference to Exhibit 10.9 to Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, filed with the Commission on November 1, 2016 ) . (1)
10.6 Credit Agreement dated as of June 24, 2019 among Sunrise Asset Management, Bank of America Leasing and Capital, LLC, Sumitomo Mitsui Banking Corporation and Bank of Utah, as agent ( i ncorporated by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 filed with the Commission on July 31, 2019) . (2)
10.7 Payroll Support Program Agreement dated April 20, 2020 between Allegiant Air, LLC and the U.S. Department of the Treasury ( i ncorporated by reference to Exhibit 10.1 to Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed with the Commission on May 22, 2020) .
10.8 Payroll Support Program Extension Agreement dated January 15, 2021 between Allegiant Air, LLC and the U.S. Department of the Treasury ( i ncorporated by reference to Exhibit 10.19 to Annual Report on Form 10-K for the year ended December 31, 2020 filed with the Commission on March 1 , 2021 ) .
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10.9 Payroll Support Program 3 Agreement dated April 23, 2021, between Allegiant Air, LLC and the United States Department of the Treasury ( i ncorporated by reference to Exhibit 10.19 to Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Commission on March 1, 2022 ) .
10.10 Credit Agreement dated as of October 13, 2021 among Sunseeker Florida, Inc., Allegiant Travel Company, certain subsidiaries of Allegiant Travel Company, the Lenders party thereto, Wilmington Trust, National Association as Administrative Agent and Castlelake Lending Opportunities, LLC as Facility Manager ( i ncorporated by reference to Exhibit 10.20 to Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Commission on March 1, 2022). (2)
10.11 Disbursement Agreement dated as of October 13, 2021 among Sunseeker Florida, Inc. and Wilmington Trust, National Association as Disbursement Agent and Administrative Agent ( i ncorporated by reference to Exhibit 10.21 to Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Commission on March 1, 2022). (2)
10.12 Mortgage, Assignment of Rents, Security Agreement and Fixture Filing dated as of October 13, 2021 made by Sunseeker Florida, Inc., to Wilmington Trust, National Association as Administrative Agent ( i ncorporated by reference to Exhibit 10.22 to Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Commission on March 1, 2022 ) .
10.13 Share Pledge Agreement dated as of October 13, 2021 between SFI Equity Holdco, Inc. and Wilmington Trust, National Association as Administrative Agent ( i ncorporated by reference to Exhibit 10.23 to Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Commission on March 1, 2022 ) .
10.14 Payment Guaranty dated as of October 13, 2021 among Allegiant Travel Company, certain subsidiaries of Allegiant Travel Company, SFI Equity Holdco, Inc. and Wilmington Trust, National Association as Administrative Agent ( i ncorporated by reference to Exhibit 10. 24 to Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Commission on March 1, 2022 ) .
10.15 Carry and Completion Guaranty dated as of October 13, 2021 among Allegiant Travel Company, certain subsidiaries of Allegiant Travel Company, SFI Equity Holdco, Inc. and Wilmington Trust, National Association as Administrative Agent ( i ncorporated by reference to Exhibit 10. 25 to Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Commission on March 1, 2022 ) .
10.16 Aircraft General Terms Agreement WJE-AGTA between The Boeing Company and Allegiant Air, LLC ( i nco rporated by reference to Exhibit 10.26 to Annual Report on Form 10- K for the year ended December 31, 2021 filed with Commissio n on March 1, 2022 ). (2)
10.17 Purchase Agreement Number PA-05130 between The Boeing Company and Allegiant Air, LLC relating to Boeing Models 737-8-200 and 737-7 Aircraft ( i ncorporated by reference to Exhibit 10.27 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.18 Table 1A to Purchase Agreement No. PA-05130 Aircraft Information Table ( i ncorporated by reference to Exhibit 10. 28 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.19 Table 1B to Purchase Agreement No. PA-05130 Aircraft Information Table ( i ncorporated by reference to Exhibit 10.29 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.20 Aircraft Configuration between The Boeing Company and Allegiant Air Exhibit A-1 to Purchase Agreement Number PA-05130 ( i ncorporated by reference to Exhibit 10.30 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.21 Aircraft Configuration between The Boeing Company and Allegiant Air Exhibit A-2 to Purchase Agreement Number PA-05130 ( i ncorporated by reference to Exhibit 10.31 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.22 Aircraft Delivery Requirements and Responsibilities between The Boeing Company and Allegiant Air, LLC Exhibit B to Purchase Agreement Number PA-05130 ( i ncorporated by reference to Exhibit 10. 32 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.23 Airframe and Optional Features Escalation Adjustment between The Boeing Company and Allegiant Air, LLC Supplemental Exhibit AE1 to Purchase Agreement Number PA-05130 ( i ncorporated by reference to Exhibit 10. 33 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.24 Buyer Furnished Equipment Variables between The Boeing Company and Allegiant Air, LLC Supplemental Exhibit BFE1 to Purchase Agreement Number PA-05130 ( i ncorporated by reference to Exhibit 10. 34 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.25 Customer Support Variables between The Boeing Company and Allegiant Air, LLC Supplemental Exhibit CS1 to Purchase Agreement Number PA-05130 ( i ncorporated by reference to Exhibit 10. 35 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.26 Engine Escalation Adjustment, Engine Warranty and Patent Indemnity between The Boeing Company and Allegiant Air, LLC Supplemental Exhibit EE1 to Purchase Agreement Number PA-05130 ( i ncorporated by reference to Exhibit 10. 36 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022).
10.27 Service Life Policy between The Boeing Company and Allegiant Air, LLC Supplemental Exhibit SLP1 to Purchase Agreement Number PA-05130 ( i ncorporated by reference to Exhibit 10. 37 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022).
10.28 Letter Agreement WJE-PA-05130-LA-2101477 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 38 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
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10.29 Attachment A to Letter Agreement No. WJE-PA-05130-LA-2101477 ( i ncorporated by reference to Exhibit 10. 39 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.30 Attachment B to Letter Agreement No. WJE-PA-05130-LA-2101477 ( i ncorporated by reference to Exhibit 10. 40 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.31 Letter Agreement WJE-PA-05130-LA-2101478 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10.41 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.32 Letter Agreement WJE-PA-05130-LA-2101479 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 42 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.33 Letter Agreement WJE-PA-05130-LA-2101481 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 43 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.34 Letter Agreement WJE-PA-05130-LA-2101482 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 44 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.35 Letter Agreement WJE-PA-05130-LA-2101483 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10.45 to Annual Report on Form 10- K for the year ended December 31, 2021 filed with the C ommission on March 1, 2022). (2)
10.36 Letter Agreement WJE-PA-05130-LA-2101485 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 46 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.37 Attachment to Letter Agreement WJE-PA-05130-LA-2101485 ( i ncorporated by reference to Exhibit 10. 47 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.38 Attachment to Letter Agreement WJE-PA-05130-LA-2101485 ( i ncorporated by reference to Exhibit 10. 48 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.39 Letter Agreement WJE-PA-05130-LA-2101487 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 49 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.40 Letter Agreement WJE-PA-05130-LA-2101488 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 50 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.41 Letter Agreement WJE-PA-05130-LA-2101489 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 51 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.42 Letter Agreement WJE-PA-05130-LA-2101490 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 52 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.43 Letter Agreement WJE-PA-05130-LA-2101491 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 53 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.44 Letter Agreement WJE-PA-05130-LA-2103907 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 54 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.45 Letter Agreement WJE-PA-05130-LA-2103908 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 55 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.46 Attachment to Letter Agreement WJE-PA-05130-LA-2103908 ( i ncorporated by reference to Exhibit 10. 5 6 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.47 Letter Agreement WJE-PA-05130-LA-2103909 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 5 7 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.48 Letter Agreement WJE-PA-05130-LA-2103923 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 5 8 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.49 Letter Agreement WJE-PA-05130-LA-2103924 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 5 9 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.50 Letter Agreement WJE-PA-05130-LA-2103925 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 60 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.51 Letter Agreement WJE-PA-05130-LA-2103930 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 6 1 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
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10.52 Letter Agreement WJE-PA-05130-LA-2104792 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 62 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.53 Letter Agreement WJE-PA-05130-LA-2104982 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 6 3 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.54 Letter Agreement WJE-PA-05130-LA-2105122 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 64 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.55 Letter Agreement WJE-PA-05130-LA-2105267 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 65 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.56 Letter Agreement WJE-PA-05130-LA-2105268 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 66 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.57 Letter Agreement WJE-PA-05130-LA-2105443 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 67 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.58 Letter Agreement WJE-PA-05130-LA-2105503 by and between The Boeing Company and Allegiant Air, LLC ( i ncorporated by reference to Exhibit 10. 68 to Annual Report on Form 10- K for the year ended December 31, 202 1 filed with the C ommission on March 1, 2022). (2)
10.59 Employment Agreement dated as of April 27, 2022 between the Company and John Redmond ( i ncorporated by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the Commission on August 4, 2022) . (1)
10.60 Restricted Stock Agreement dated June 1, 2022 between the Company and John Redmond ( i ncorporated by reference to Exhibit 10.2 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the Commission on August 4, 2022) . (1)
10.61 Stock Option Agreement dated June 1, 2022 between the Company and John Redmond ( i ncorporated by reference to Exhibit 10. 3 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the Commission on August 4, 2022) . (1)
10.62 Employment Agreement dated as of August 1, 2022 between the Company and Scott Sheldon ( i ncorporated by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Commission on November 3, 2022) . (1)
10.63 Employment Agreement dated as of August 1, 2022 between the Company and Gregory Anderson ( i ncorporated by reference to Exhibit 10. 2 to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Commission on November 3, 2022) . (1)
10.64 Employment Agreement dated as of August 1, 2022 between the Company and Scott DeAngelo ( i ncorporated by reference to Exhibit 10. 3 to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Commission on November 3, 2022) . (1)
10.65 Employment Agreement dated as of August 1, 2022 between the Company and Robert Wilson, III ( i ncorporated by reference to Exhibit 10. 4 to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Commission on November 3, 2022) . (1)
10.66 Revolving Credit and Guaranty Agreement, dated as of August 17, 2022, among the Company, as borrower, certain subsidiaries of the Company party thereto, as guarantors, the lenders party thereto and Barclays Bank PLC, as administrative agent and lead arranger ( i ncorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K, filed with the Commission on August 17, 2022).
10.67 PDP Credit Agreement dated as of September 30, 2022 among Allegiant Air, LLC, Norddeutsche Landesbank Girozentrale (acting through its New York branch) and Landesbank Hessen-Thüringen Girozentrale as Original Lenders and Bank of Utah as security trustee ( i ncorporated by reference to Exhibit 10. 5 to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Commission on November 3, 2022).
10.68 Purchase Agreement Assignment and Security Agreement dated as of September 30, 2022, between Allegiant Air, LLC and Bank of Utah as security trustee ( i ncorporated by reference to Exhibit 10. 6 to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Commission on November 3, 2022).
10.69 Definitions Relating to the PDP Credit Agreement and the Security Agreement referenced in items 10.67 and 10.68 (incorporated by reference to Exhibit 10 .7 to the Quarterly Report on Form 10-Q for the quarter ended Se ptember 30, 2022 filed with the Commission on November 3, 2022).
10.70 Allegiant Guarantee Agreement dated as of September 30, 2022 between the Company and Bank of Utah as security trustee. (Incorporated by reference to Exhibit 10. 8 to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Commission on November 3, 2022).
10.71 2022 Long-Term Incentive Plan. (1)
10.72 Form of Restricted Stock Agreement under 2022 Long-Term Incentive Plan - Employees. (1)
10.73 Form of Restricted Stock Agreement under 2022 Long-Term Incentive Plan - Board Members . (1)
10.74 Employment Agreement dated as of December 1, 2022, between the Company and Keny Wilper. (1)
21 List of Subsidiaries
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23.1 Consent of KPMG LLP, independent registered public accounting firm
31.1 Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer
31.2 Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer
32 Section 1350 Certifications
101 The following financial information from the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 27, 2023, formatted in XBRL includes (i) Consolidated Balance Sheets as of December 31, 2022 and December 31, 2021 (ii) Consolidated Statements of Income for the years ended December 31, 2022, 2021 and 2020 (iii) Consolidated Statements of Comprehensive Income for the years ended December 31, 2022, 2021 and 2020 (iv) Consolidated Statements of Shareholders’ Equity for the years ended December 31, 2022, 2021 and 2020 (v) Consolidated Cash Flow Statements for the years ended December 31, 2022, 2021 and 2020 (vi) the Notes to the Consolidated Financial Statements. (3)
(1) Management contract or compensation plan or agreement required to be filed as an Exhibit to this Report on Form 10-K pursuant to Item 15(b) of Form 10-K.
(2) Certain confidential information in this agreement has been omitted because it (i) is not material and (ii) would be competitively harmful if publicly disclosed.
(3) Pursuant to Rule 406 of Regulation S-T, the XBRL related information in Exhibit 101 to this annual report on Form 10-K shall be deemed to be not filed for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be deemed part of a registration statement, prospectus or other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
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Item 16. Form 10-K Summary
None
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Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Las Vegas, State of Nevada on February 27, 2023.
Allegiant Travel Company
By: /s/ Gregory Anderson
Gregory Anderson, as duly authorized officer of the Company (President)
POWERS OF ATTORNEY
Each person whose signature appears below hereby appoints Gregory Anderson and Robert Neal, and each of them acting alone, as his or her true and lawful attorneys-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this annual report on Form 10-K, and to file the same, with all exhibits thereto and all other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents full power and authority to perform each and every act and thing appropriate or necessary to be done, as fully and for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.
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Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
Signature Title Date
/s/ John Redmond Chief Executive Officer and Director February 27, 2023
John Redmond (Principal Executive Officer)
/s/ Robert Neal Chief Financial Officer February 27, 2023
Robert Neal (Principal Financial Officer)
/s/ Rebecca Aretos Chief Accounting Officer February 27, 2023
Rebecca Aretos (Principal Accounting Officer)
/s/ Maurice J. Gallagher, Jr. Director (Chairman of the Board) February 27, 2023
Maurice J. Gallagher, Jr.
/s/ Montie Brewer Director February 27, 2023
Montie Brewer
/s/ Gary Ellmer Director February 27, 2023
Gary Ellmer
/s/ Ponder Harrison Director February 27, 2023
M. Ponder Harrison
/s/ Linda Marvin Director February 27, 2023
Linda Marvin
/s/ Sandra D. Morgan Director February 27, 2023
Sandra D. Morgan
/s/ Charles W. Pollard Director February 27, 2023
Charles W. Pollard
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