Providing a company aircraft to an executive officer or director for their personal use generally requires disclosure in Securities and Exchange Commission (SEC) reports for publicly held companies. Public companies must report the aggregate incremental cost associated with personal flights, which means the cost to the company of the personal flights, not the tax value of the benefit.
The SEC reporting requirements and specifics of what items to include in the aggregate incremental costs associated with personal flights differ significantly from IRS rules for personal flights.
Use of Corporate Aircraft by Executives of Public Companies: Should Tax Consequences Be Disclosed?
SEC rules require disclosure of the aggregate incremental cost for non-business flights by executives.
Use of Business Aircraft: Securities Law Considerations
For publicly traded companies there are significant securities law issues to be considered including disclosure obligations, the potential impact of aircraft usage on the independence of outside directors and the risk that aircraft usage might violate the prohibition in Sarbanes-Oxley against loans to officers and directors.