Sheila Paine
About Sheila Paine
Sheila Paine is the Corporate Secretary of Global Crossing Airlines Group Inc. (GlobalX) and is 71 years old. She has over 31 years’ experience as a senior paralegal/legal assistant specializing in corporate, securities, and regulatory matters, and has acted as Corporate Secretary for public companies for the past 15 years; she was the long-time corporate secretary of Canada Jetlines prior to its reorganization into GlobalX, and is also employed by King & Bay West Management Corp. in British Columbia . Company performance context: GlobalX revenue grew from $160.1M in FY 2023 to $223.8M in FY 2024, while EBITDA improved from -$13.6M to $5.1M during that period . The company lists Sheila Paine among current executive officers as Corporate Secretary .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($USD) | $160,122,000 | $223,751,000 |
| EBITDA ($USD) | -$13,575,000* | $5,143,000* |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Canada Jetlines | Corporate Secretary | Long-time (not dated) | Supported corporate governance and regulatory compliance before reorganization into GlobalX . |
| Various public companies | Corporate Secretary | Past 15 years | Corporate, securities, and regulatory governance for public issuers . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| King & Bay West Management Corp. (British Columbia) | Employee | Not disclosed | External corporate support capacity; potential administrative/legal support functions . |
Fixed Compensation
Sheila Paine is not listed as a Named Executive Officer (NEO) in the latest proxy, and her specific cash compensation (base salary, target/actual bonus) is not disclosed in the Summary Compensation Table (table covers Edward Wegel, Chris Jamroz, and Ryan Goepel for FY 2024/2023) .
| Component | FY 2024 | FY 2023 | Notes |
|---|---|---|---|
| Base Salary ($) | Not disclosed | Not disclosed | Paine not included in NEO Summary Compensation Table . |
| Target Bonus (%) | Not disclosed | Not disclosed | Not disclosed for Paine . |
| Actual Bonus ($) | Not disclosed | Not disclosed | Not disclosed for Paine . |
Performance Compensation
No equity awards or performance-based incentives for Sheila Paine are individually disclosed. Outstanding awards tables list NEO grants (Jamroz, Goepel, Wegel) and vesting terms but do not include Paine .
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| RSUs/PSUs/Options | Not disclosed for Paine | — | — | — | — | — |
Note: Company-wide plan descriptions (RSU Plan, PSU Plan, Option Plan, ESPP) are provided in the proxy, but no Paine-specific grants are enumerated .
Equity Ownership & Alignment
The FY 2025 and FY 2024 beneficial ownership tables list Sheila Paine with no reported holdings (line items show em dashes for all classes). This indicates no beneficial ownership as of October 13, 2025 and September 27, 2024, respectively .
| Item | As of FY 2025 Reference Date | As of FY 2024 Reference Date | Notes |
|---|---|---|---|
| Common Stock Owned | — | — | No shares reported. |
| Class A Non-Voting Owned | — | — | Not reported. |
| Class B Non-Voting Owned | — | — | Not reported. |
| Ownership % of Common | Not reported | Not reported | Shares outstanding basis: 49,940,527 Common, 5,537,313 Class A, 9,721,166 Class B (10/13/2025) . |
| Vested vs. Unvested | Not disclosed | Not disclosed | No individual award disclosure for Paine . |
| Options (Exercisable/Unexercisable) | Not disclosed | Not disclosed | No options listed for Paine . |
| Pledged Shares | Not disclosed | Not disclosed | No pledging disclosure for Paine; insider trading policy referenced generally . |
| Ownership Guidelines | Not disclosed | Not disclosed | No executive ownership guidelines disclosed for Paine . |
| Compliance with Guidelines | Not applicable | Not applicable | Not applicable given lack of guidelines and no holdings . |
Employment Terms
- Title and role: Corporate Secretary (executive officer) .
- Employment agreement, severance, and change-of-control terms: Not disclosed for Paine; proxy includes employment agreement summary for President & CFO (Goepel) but not for Paine .
- Non-compete/non-solicit/garden leave/consulting: Not disclosed for Paine .
- Start date and tenure at GlobalX: Not dated; described as long-time corporate secretary of Canada Jetlines prior to reorganization .
Investment Implications
- Alignment: Lack of disclosed share ownership and absence from NEO compensation tables suggests limited direct equity alignment and minimal insider-selling pressure specific to Paine; no pledging or hedging details are provided for her individually .
- Retention risk: No employment agreement or severance/change-of-control terms are disclosed for Paine, limiting visibility into retention economics; contrast with detailed terms for the President & CFO .
- Pay-for-performance linkages: No Paine-specific performance metrics, incentive weighting, or vesting schedules are disclosed; company-level plans (RSU/PSU/Option/ESPP) exist, but her participation is not enumerated .
- Company execution backdrop: Revenue expanded in FY 2024 versus FY 2023 and EBITDA improved to positive territory, providing a constructive operating context during her tenure as Corporate Secretary; however, these do not establish a direct pay-performance tie for Paine due to non-disclosure of her incentives .