On August 23, 2024, Volato Group, Inc., a Delaware-incorporated company, reported the approval of indemnification agreements by its Board of Directors. These agreements, entered into with the company's directors and executive officers, mandate Volato Group to indemnify these individuals to the fullest extent permitted by law and, under certain conditions, to advance expenses. The company is also required to maintain liability insurance for directors and officers. However, the agreements exclude indemnification for legal actions initiated by the directors or officers themselves or related to enforcement of non-compete or non-disclosure agreements. Additionally, on June 7, 2024, the Board approved a Stock Option Agreement under the 2023 Stock Incentive Plan. Furthermore, an amendment to the company's Bylaws was approved on August 28, 2024, changing...Show More

On August 23, 2024, Volato Group, Inc., a Delaware-incorporated company, reported the approval of indemnification agreements by its Board of Directors. These agreements, entered into with the company's directors and executive officers, mandate Volato Group to indemnify these individuals to the fullest extent permitted by law and, under certain conditions, to advance expenses. The company is also required to maintain liability insurance for directors and officers. However, the agreements exclude indemnification for legal actions initiated by the directors or officers themselves or related to enforcement of non-compete or non-disclosure agreements. Additionally, on June 7, 2024, the Board approved a Stock Option Agreement under the 2023 Stock Incentive Plan. Furthermore, an amendment to the company's Bylaws was approved on August 28, 2024, changing the quorum requirement for stockholder meetings from a majority to one-third of outstanding shares. This amendment will be effective for the upcoming Special Meeting of Stockholders on October 3, 2024. The details of these agreements and amendments are included in the company's Form 8-K filed with the SEC, with Mark Heinen, Chief Financial Officer, signing off on the report on August 29, 2024.