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Get filing alertsFirefly Aerospace formalizes executive pay, enrolls three officers in amended severance plan
Filed April 21, 2026 · Period ending April 15, 2026 · ~1 min read
Key Changes
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medium
CEO Jason Kim's compensation memorialized at $500k base salary with 100% bonus target; CFO Darren Ma at $420k with 60% target; Ramon Sanchez at $425k with 50% target. These are existing pay levels being documented, not new increases.
Item 5.02 verify on EDGAR → -
medium
Board amended executive severance plan with unspecified clarifying changes and enrolled Kim, Ma, and Sanchez as participants. Severance benefit details not disclosed in filing.
Item 5.02 verify on EDGAR → -
low
New employment letters replace prior agreements for three executives but appear confirmatory in nature, documenting current terms rather than announcing material changes to roles or compensation.
Item 5.02 verify on EDGAR →
Summary
Firefly Aerospace filed routine executive compensation disclosures on April 21, documenting employment terms for three senior officers. The company formalized existing pay arrangements through new employment letters that supersede prior agreements with CEO Jason Kim, CFO Darren Ma, and executive Ramon Sanchez.
The filing memorializes current compensation rather than announcing raises: Kim earns $500,000 base with a 100% bonus opportunity, while Ma and Sanchez earn $420,000 and $425,000 respectively with lower bonus targets. Concurrently, the board approved clarifying amendments to the executive severance plan and enrolled all three officers as participants.
The filing does not detail what the amendments entail or specify severance benefit levels, leaving investors without visibility into potential future obligations if these executives depart. For retail holders, this is primarily a housekeeping disclosure with limited immediate impact. Watch for proxy filings or future 8-Ks that might reveal the actual severance terms or any material changes to executive retention arrangements.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Firefly entered new employment letters with three executives, memorializing salaries and bonuses, and enrolled them in an amended severance plan.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On April 15, 2026, the Board of Directors of the Company also approved certain clarifying amendments to the Firefly Aerospace Inc. Executive Severance Plan (as amended, the “Severance Plan”). In connection with entering into the new Employment Letter Agreements, each of Messrs. Kim, Ma and Sanchez also entered into participation agreements to commence participation in, and to become eligible to receive the applicable severance benefits under, the Severance Plan.
The board amended the executive severance plan with clarifying changes and enrolled the three executives as participants. The filing does not detail what the amendments entail or the specific severance benefits available.
Event · Item 9.01 — Financial Statements and Exhibits
Firefly Aerospace disclosed employment agreements for three executives and an amended executive severance plan.
Added in current filing · verify on EDGAR →
Employment Letter and Participation Agreement (Jason Kim).
10.2
Employment Letter and Participation Agreement (Darren Ma).
10.3
Employment Letter and Participation Agreement (Ramon Sanchez).
The company entered into employment letter and participation agreements with three executives: Jason Kim, Darren Ma (who signed this 8-K as CFO), and Ramon Sanchez. These agreements formalize the terms of their employment and participation in company plans, though specific compensation details are not disclosed in the 8-K body itself.
Added in current filing · verify on EDGAR →
Firefly Aerospace Inc. Amended Executive Severance Plan.
The company amended its executive severance plan, which governs termination benefits for senior executives. Changes to severance arrangements can affect executive retention incentives and potential future cash obligations, though the specific amendments are not detailed in the 8-K body.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify