TransDigm Group Inc., a company specializing in the design and manufacture of components for the aerospace and defense industries, has awarded Jessica Warren, its new top lawyer, a total compensation package of $11 million. This package was discussed in a proxy statement filed on January 26.
Warren’s package is not solely composed of cash but includes roughly $447,500 in base salary and approximately $433,300 in non-equity incentive plan cash compensation. However, the heftiest part of the compensation comes in the form of a five-year, performance-based stock option award valued at over $10.1 million. This option will span the duration of Warren’s TransDigm employment agreement, which concludes on Dec. 31, 2027.
Warren is not new to the aerospace giant. Prior to her appointment as top legal and compliance executive and corporate secretary in February 2023, Warren served as an associate general counsel for the company. Her legal career began at the Cleveland-based law firm, Tucker Ellis. She assumed her current role from Halle Martin, who retired in February 2023 as well.
As top legal professional for a defense supplier, Warren will face an environment marked by scrutiny. A Pentagon inspector general’s report in 2021 faulted TransDigm for overcharging the US federal government for spare parts and has since demanded refunds from the company. This and other incidents have put this government subcontractor under the magnifying glass.
In addition to Warren’s appointment, 2022 saw TransDigm and its senior executives resolving shareholder litigation in Delaware over allegations of overcompensation of its board members and management. The same year also witnessed the company’s multimillion-dollar acquisitions counseled by Baker & Hostetler – a nearly $1.4 billion acquisition of an electron device business and a $725 million purchase of the aviation transportation and research company, Calspan Corp.
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