John M. Holmes

Chairman, President, and Chief Executive Officer at AAR

Board

Since January 2023

Age

47 years

Tenure

Joined AIR in September 2001 and advanced through multiple roles including General Manager, Division President, Group Vice President, Chief Operating Officer, President and Chief Executive Officer, and finally Chairman, President, and Chief Executive Officer.

Also at AAR

CAJ

Christopher A. Jessup

Senior Vice President and Chief Commercial Officer

ESP

Eric S. Pachapa

Vice President, Controller, and Chief Accounting Officer

JAG

Jessica A. Garascia

Senior Vice President, General Counsel, Chief Administrative Officer, and Secretary

About

John M. Holmes has built a distinguished career at AIR since September 2001. Over the years, he has assumed a variety of key leadership roles, starting from positions in operations, progressing through general management and divisional leadership, and eventually stepping into executive roles. His journey highlights significant promotions that have shaped the company’s strategic direction.

Throughout his tenure, he has overseen transformational changes and played a pivotal part in driving growth at the company. His career progression, which saw him transition from a role in the Allen Asset Management business to serving as Group Vice President and later as Chief Operating Officer, underscores a deep understanding of the aviation services industry.

In January 2023, Mr. Holmes assumed his current role as Chairman, President, and Chief Executive Officer, reinforcing his commitment to steering the company forward. Although personal details such as his educational background remain undisclosed in the available documents, his professional contributions and leadership continue to define his impactful career at AIR.

$AIR Performance Under John M. Holmes

Past Roles

Organization	Role	Date Range	Details
AAR CORP.	President and Chief Executive Officer	June 2018 to January 2023	N/A
AAR CORP.	President and Chief Operating Officer	June 2017 to May 2018	N/A
AAR CORP.	Chief Operating Officer – Aviation Services	February 2015 to June 2017	N/A
AAR CORP.	Group Vice President, Aviation Services – Inventory Management and Distribution	2012 to 2015	N/A
AAR CORP.	General Manager and Division President of AAR Allen Asset Management	2003 to 2012	N/A
AAR CORP.	Various other positions	Since September 2001	Joined AAR CORP. in September 2001

External Roles

Organization	Role	Date Range
GATX Corporation	Director	N/A

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,050,000	Annually	Increased by 5% from Fiscal 2023
Company 401(k) Plan Contributions	$20,146	Annually	Standard 401(k) contributions
Company SKERP Contributions	$411,323	Annually	SKERP contributions for 2024
Perquisites and Other Personal Benefits	$50,788	Annually	Includes club dues ($37,012 ), financial planning and tax preparation services (up to $15,000 ), and participation in an executive physical program

Performance Compensation

Data from FY 2024

Short-Term Incentive Plan (Cash Bonus)

Metric	Weight	Threshold	Target	Maximum	Actual Result	Payout Outcome
Adjusted Diluted EPS from Continuing Operations	80%	N/A	N/A	N/A	$3.33	190% payout
Adjusted Net Working Capital Turns	20%	N/A	N/A	N/A	3.26	129% payout
Bonus Payout (% of Base Salary)	N/A	60% ($630,000)	120% ($1,260,000)	240% ($2,520,000)	N/A	Combined average payout of 178%, resulting in an actual bonus of $2,242,800

Evaluation Period: Fiscal 2024 (performance year ending May 31, 2024), with bonus approval in July 2024.

Long-Term Incentive Plan

Performance-Based Restricted Stock

Metric	Weight	Threshold	Target	Maximum
Adjusted Income from Continuing Operations	70%	Not specified	Not specified	Not specified
Return on Invested Capital (ROIC)	20%	Not specified	Not specified	Not specified
Relative Total Stockholder Return (RTSR)	10%	25th percentile	55th percentile	80th percentile
Payout Conditions	N/A	0% payout below threshold	100% payout at target	200% payout at maximum

Grant Date: July 24, 2023
Grant Date Fair Value: $2,454,041
Grant Date Stock Price: $58.27
Number of Shares:
- Threshold: 21,058 shares
- Target: 42,115 shares
- Maximum: 84,230 shares
Vesting Schedule: Vesting on July 31, 2026 with a performance period from June 1, 2023 to May 31, 2026

Stock Options

Detail	Value
Grant Date	July 24, 2023
Grant Date Fair Value	$818,019
Grant Date Stock Price	$58.27
Number of Options	32,320 stock options
Vesting Schedule	33⅓% on July 31, 2024, 33⅓% on July 31, 2025, 33⅓% on July 31, 2026
Conditions	Value dependent solely on stock price appreciation above the grant date price

This detailed breakdown covers the performance compensation for Fiscal 2024, including both the short-term incentive plan for cash bonuses and the long-term incentive plan (performance-based restricted stock and stock options), with all available exact dollar amounts, share quantities, and relevant percentages.