Alexandre Clerc
Senior Vice President, Customers at ULCC
Executive
About Alexandre Clerc
Alexandre Clerc, age 54, is Senior Vice President, Customers at Frontier Group Holdings (ULCC) and has served in this role since January 2024, overseeing Airport Customer Service and inflight teams . He holds a B.S. in Hospitality from Lausanne Hotel School (Switzerland) and an MBA from Southern Methodist University . For 2024, executive bonuses were driven by corporate goals with an aggregate attainment of 79%, and Mr. Clerc’s annual performance bonus paid for 2024 was $205,933 with a target bonus equal to 65% of base salary .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ABC Aerolineas (Interjet) | Chief Operating Officer | Nov 2019–Apr 2021 | Served as COO at a Mexican low-cost airline; Interjet subsequently entered bankruptcy proceedings in Mexico in Aug 2022 . |
| Spirit Airlines | Director of Operations Planning | Apr 2017–Oct 2019 | Led operations planning at a major U.S. ULCC, supporting network and operational execution . |
| Volotea | Deputy COO; later Chief Operating & Cost Officer | Feb 2015–Feb 2017 | Advanced to COO roles at European ULCC, driving operations and cost management . |
| Southwest Airlines | Senior roles in Technical Operations & Strategic Planning | 2007–2015 | Held senior technical ops and strategy roles at a leading U.S. airline . |
| Hilton Hotels Corporation | Operations roles (start of career) | Not disclosed | Began career in operations within hospitality sector . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| McKinsey & Company | Senior Expert, Transport & Travel Practice | May 2021–Jan 2024 | Advised carriers on transport/travel initiatives as a senior expert at a global consulting firm . |
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Annual base salary effective as of year-end 2024 | $400,000 | Set by Compensation Committee; reflects 2024 year-end base . |
| Salary paid (pro-rated) | $391,257 | Reflects portion of year employed in 2024 . |
| Signing bonus | $100,000 | Paid after 90 days; subject to pro-rata repayment if leaving within 12 months for cause/voluntary . |
| Perquisites (UATP travel bank) | $8,250 | Personal travel bank for officers; standard airline industry benefit . |
| Relocation reimbursement (cap) | Up to $100,000 (pre-tax) | Offer letter; actual relocation reimbursed $74,571 and tax reimbursement $30,090 in 2024 . |
| All Other Compensation total | $111,423 | Includes relocation, associated tax reimbursement, UATP benefits, and 401(k) match . |
Performance Compensation
Annual Cash Bonus Mechanics (2024)
| Item | Detail |
|---|---|
| Target bonus opportunity | 65% of base salary . |
| Weighting | 75% corporate performance; 25% individual performance . |
| Corporate goal attainment | Aggregate 79% for 2024 corporate goals . |
| Individual achievement factor | 110% for Mr. Clerc (applied to the individual portion) . |
2024 Corporate Performance Framework
| Metric | Weighting | Threshold | Target | Stretch | Maximum | Actual | Percent Achieved |
|---|---|---|---|---|---|---|---|
| Year-end Net Cash | 23.33% | $175M | $276M | $325M | $375M | $237M | 19% |
| Adjusted CASM ex-fuel (SLA 1,000) | 23.33% | 6.27 | 6.21 | 6.18 | 6.15 | 6.42 | Not disclosed in table |
| Adjusted Pre-Tax Margin | 23.33% | 5.5% | 7.5% | 8.5% | 9.5% | 0.9% | Not disclosed in table |
| Operational Objectives (4 KPIs) | 30.00% | 1 of 4 | 2 of 4 | 3 of 4 | 4 of 4 | 4 of 4 achieved | 60% |
2024 Bonus Outcome (Paid in early 2025)
| Item | Amount |
|---|---|
| Bonus target (weighted base × 65%) | $254,317 |
| Corporate portion (75% × target × 79%) | $150,683 |
| Individual portion (25% × target × 79% × 110%) | $55,250 |
| Annual performance bonus paid | $205,933 |
Equity Awards (2024)
| Grant | Shares/Value | Vesting Schedule | Notes |
|---|---|---|---|
| RSUs (Grant Date: Feb 1, 2024) | 216,573 RSUs; $1,150,003 grant-date fair value | 28,249 RSUs vest 1/3 on Jan 8, 2025/2026/2027; 188,324 RSUs vest 1/4 on Jan 8, 2025/2026/2027/2028 | Mix of new-hire (four-year vest) and LTI (three-year vest) tranches . |
| Option awards | None disclosed for 2024 | N/A | No options granted to Mr. Clerc in 2024 grants table . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (as of Mar 14, 2025) | 23,912 shares of common stock . |
| Shares outstanding (as of Mar 14, 2025) | 227,658,883 shares . |
| Ownership as % of shares outstanding | ≈0.0105% (23,912 ÷ 227,658,883; calculated from cited counts) . |
| RSUs unvested from 2024 award | 216,573 RSUs vesting through Jan 8, 2028 per schedules . |
| Hedging policy | Anti-hedging policy prohibits transactions that hedge or offset decreases in ULCC equity . |
| Pledging | No pledging policy disclosed; no pledges reported for Mr. Clerc in beneficial ownership table . |
Employment Terms
| Term | Provision |
|---|---|
| Start date and nature of employment | Offer letter effective Jan 8, 2024; employment terminable by either party at any time . |
| Non-compete and non-solicit | 12 months post-employment (or 24 months if terminated without Cause or duties substantially diminished and he resigns within 12 months after a Change in Control) . |
| Severance (no CoC) | Lump sum 1× base salary + 1× target bonus; continued flight benefits under UATP for one year; subject to a general release . |
| Severance (with CoC) | Lump sum 2× base salary + 2× target bonus; continued flight benefits under UATP for two years; subject to a general release . |
| Change-in-control vesting | Initial RSU grant vests fully upon consummation of a Change in Control . |
Potential Payments on Termination (as of 2024 tables)
| Scenario | Base Salary Severance ($) | Bonus Severance ($) | Accelerated Vesting ($) | Other ($) | Total ($) |
|---|---|---|---|---|---|
| Termination without Cause | $400,000 | $254,317 | $334,746 | $8,250 (UATP) | $997,313 |
| Termination without Cause or for Good Reason in connection with a CoC | $800,000 | $508,634 | $1,539,834 | $16,500 (UATP) | $2,864,968 |
Investment Implications
- Pay-for-performance alignment: Mr. Clerc’s annual bonus is primarily tied to corporate metrics (75% weight) with a clearly defined framework and aggregate corporate attainment of 79% in 2024, supporting incentive linkage to operational and financial outcomes .
- Retention and selling pressure: RSUs vest annually on January 8 across 2025–2028 (both three-year and four-year tranches), creating recurring vest dates that can coincide with potential selling windows; hedging is prohibited, reducing misalignment risk from derivatives .
- Change-of-control economics: Double-trigger severance (2× salary+target bonus) plus accelerated vesting of initial RSUs and extended flight benefits may incentivize stability pre-transaction but could influence executive behavior around strategic events .
- Ownership alignment: Beneficial ownership is less than 1% of outstanding shares (23,912 shares versus 227.7M outstanding), indicating limited direct equity exposure; ongoing RSU vesting partially mitigates this .
- Background risk signals: Prior COO tenure at Interjet, which later entered bankruptcy in Mexico, is a factual datapoint for diligence; no implication of causality, but relevant context for execution risk assessment .