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    Barry L. Biffle

    Chief Executive Officer at Frontier Group Holdings Inc
    Since March 2016
    Age
    52 years
    Education
    Holds a Bachelor of Arts degree from the University of Alabama.
    Tenure
    Joined Frontier Airlines in July 2014 as President and was promoted to Chief Executive Officer in March 2016, later joining the Board in March 2017.

    Also at Frontier Group Holdings Inc

    AC
    Alexandre Clerc
    Senior Vice President, Customers
    HMD
    Howard M. Diamond
    Executive Vice President, Legal and Corporate Affairs, and Corporate Secretary
    JGD
    James G. Dempsey
    President

    About

    Barry L. Biffle is a seasoned airline executive with extensive experience across prominent carriers, beginning his career with management roles at American Eagle Airlines, US Airways, and Spirit Airlines.

    He joined Frontier Airlines in July 2014 as President and was later promoted to Chief Executive Officer in March 2016, a move that underscored his strategic vision and leadership capabilities. His subsequent addition to the Board in March 2017 further reinforced his commitment to steering the company in the ultra-low-cost carrier market.

    Throughout his career, his emphasis on cost efficiency, network expansion, and operational excellence has been central to establishing Frontier Airlines as a leader in the industry. His background and progressive career milestones across various companies underscore his expertise and impactful contributions in the airline sector.

    $ULCC Performance Under Barry L. Biffle

    Past Roles

    OrganizationRoleDate RangeDetails
    Frontier Airlines (ULCC) President July 2014 to October 2023 Held as a previous role before his current CEO position
    VivaColombia Chief Executive Officer July 2013 to April 2014 Airline based in Medellín, Colombia
    Spirit Airlines, Inc. Chief Marketing Officer / Executive Vice President February 2005 to July 2013 Held dual roles: CMO (Feb 2005 - Jul 2013) and EVP (2008 - 2013)
    US Airways Managing Director of Marketing 2003 to 2005 Also held key positions in network planning, sales, and marketing
    American Eagle Airlines Management Positions 1995 to 1999 Held several management roles at the regional airline subsidiary of American Airlines, Inc.

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$680,000<br>(Actual Paid: $677,128) AnnualAnnual base salary as of year-end 2023
    All Other Compensation$9,900 AnnualMatching employer 401(k) contributions
    Termination-Based Compensation (Without Cause/Constructive Termination)$2,215,640 Contingent upon termination without cause or constructive terminationIncludes Base Salary Severance: $680,000; Bonus Severance: $1,498,146; COBRA Premiums: $26,494; Other Compensation: $11,000
    Termination-Based Compensation (Change in Control)$9,655,215 Contingent upon termination in connection with a change in controlIncludes Base Salary Severance: $1,360,000; Bonus Severance: $2,344,556; Accelerated vesting of stock and option awards: $5,875,671; COBRA Premiums: $52,988; Other Compensation: $22,000
    Special Bonus$231,417 Paid on April 4, 2023Discretionary bonus for salaried non-union employees; subject to continued employment through April 1, 2023
    IPO Bonus$625,000 Approved June 16, 2021; Paid on April 4, 2023Cash bonus payment
    Merger Retention Bonus$1,102,148 50% paid on April 4, 2023; remaining contingent upon merger agreement conditionsRetention bonus under merger terms; 50% forfeited if merger agreement terminates
    Stock Awards (RSUs)$5,288,374 Vesting per grant schedule:<br>- Feb 8, 2023 RSUs: Vest on Feb 8, 2024/2025/2026<br>- April 2, 2023 RSUs: Vesting details as granted<br>- Oct 25, 2023 RSUs: Vest on Oct 25, 2024/2025/2026Grants:<br>- Feb 8, 2023: 168,840 RSUs at a fair value of $2,296,224<br>- April 2, 2023: 29,690 RSUs at a fair value of $292,150<br>- Oct 25, 2023: 703,125 RSUs at a fair value of $2,700,000<br>Vesting contingent on continued service

    Performance Compensation

    Data from  FY 2023

    Non-Equity Incentive Plan Compensation

    Metric (2023)ThresholdTargetStretchMaximumActualNotes
    Year-End Net Cash$300M $386M $418M $450M $139M Below threshold
    Adjusted CASM (Industry Rank)<8.94 3 2 1 1 (47% achieved)
    Adjusted Net Margin (Industry Rank)6 5 or 4 3 or 2 1 7 Not achieved
    Operational Objectives1 of 4 2 of 4 3 of 4 4 of 4 2 of 4 (30% achieved) Includes objectives like Aircraft Availability, Controllable Turn, etc.

    Bonus Calculation Details:

    • Bonus Target: $846,410
    • Corporate Performance Bonus: $488,802 (75% weighting)
    • Individual Performance Bonus: $162,934 (25% weighting)
    • Total Annual Performance Bonus Paid: $651,736

    Achievement Levels:

    • Threshold Achievement: 50%
    • Target Achievement: 100%
    • Stretch Achievement: 150%
    • Maximum Achievement: 200%

    Evaluation Period: 2023

    The above table summarizes the performance metrics and targets under Barry L. Biffle's Non-Equity Incentive Plan Compensation for 2023. Vesting is not applicable as the incentive is cash-based and tied to the evaluation of 2023 performance.