Applied Aerospace & Defense (AADX) holder makes 11.5M-share pro rata distribution

Rhea-AI Filing Summary

AA&D Holdings, LP reported disposition transactions in this Form 4 filing.

AA&D Holdings, LP, a major stockholder of Applied Aerospace & Defense, Inc., reported a pro rata distribution of 11,456,787 common shares on July 15, 2026. The shares were distributed to its limited partners without consideration and remain subject to IPO lock-up restrictions. Voting and dispositive power over AA&D Holdings’ remaining 126,786,731 shares is exercised by a Greenbriar-affiliated board that disclaims beneficial ownership beyond its pecuniary interest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider AA&D Holdings, LP

Role 10% Owner

Type	Security	Shares	Price	Value
Other	Common Stock	11,456,787	$0.00	--

Holdings After Transaction: Common Stock — 126,786,731 shares (Direct)

Footnotes (1)

1. Represents the pro rata distribution of an aggregate of 11,456,787 shares of common stock by AA&D Holdings, LP to its limited partners, including certain directors and officers of the issuer. No consideration was paid in connection with the transaction reported herein. All shares subject to such distribution remain subject to the lock-up restrictions for the benefit of the underwriters implemented in connection with the initial public offering of the issuer. AA&D Holdings, LP is a Delaware limited partnership managed by affiliates of Greenbriar Equity Group, L.P. GB Eagle GP, LLC ("GB Eagle GP") is the general partner of AA&D Holdings, LP. Greenbriar Equity Capital V, L.P. ("Greenbriar Equity Capital") is the sole member of GB Eagle GP. Greenbriar Equity Capital is controlled by its general partner, Greenbriar Holdings V, LLC, which is managed by a board of managers (the "Board of Managers"). Voting and dispositive power of the securities held directly by AA&D Holdings, LP is exercised by majority vote of the Board of Managers, which includes Noah Roy, who also serves as a member of the issuer's board of directors. Each of the foregoing persons disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein.

Key Figures

Shares distributed: 11,456,787 shares Shares held after transaction: 126,786,731 shares Per-share consideration: $0.0000 per share

3 metrics

Shares distributed 11,456,787 shares Pro rata distribution of common stock on July 15, 2026

Shares held after transaction 126,786,731 shares Common shares reported as owned by AA&D Holdings, LP after the distribution

Per-share consideration $0.0000 per share No consideration was paid in connection with the pro rata distribution

Key Terms

pro rata distribution, lock-up restrictions, disclaims beneficial ownership, pecuniary interest

4 terms

pro rata distribution financial

"Represents the pro rata distribution of an aggregate of 11,456,787 shares"

A pro rata distribution is when a company or organization shares out money, assets, or benefits evenly among all eligible people based on their size or share. For example, if a company makes a profit and distributes it to shareholders, each person gets a portion proportional to how many shares they own. It ensures everyone gets their fair part based on their ownership or stake.

lock-up restrictions financial

"All shares subject to such distribution remain subject to the lock-up restrictions"

A lock-up restriction is a temporary rule that prevents company insiders, early investors and employees from selling their shares for a set period after a public offering. It matters to investors because it limits how many shares can enter the market immediately—like a cooling-off period after a big sale—and when the restriction ends a large increase in available shares can put downward pressure on the stock price or reveal insiders’ confidence in the company.

disclaims beneficial ownership financial

"Each of the foregoing persons disclaims beneficial ownership of the securities"

pecuniary interest financial

"disclaims beneficial ownership of the securities except to the extent of its pecuniary interest"

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Available on EDGAR 07/17/2026 - 08:00 PM Accepted by SEC EDGAR 07/17/2026 - 08:00 PM Learn about SEC filing dates

FAQ

What transaction did AA&D Holdings report for AADX in this Form 4?

AA&D Holdings, LP reported a pro rata distribution of 11,456,787 Applied Aerospace & Defense (AADX) common shares on July 15, 2026. The shares were allocated to its limited partners, including certain directors and officers, as an internal partnership distribution rather than a market sale.

How many AADX shares does AA&D Holdings own after the distribution?

After the distribution, AA&D Holdings, LP reports holding 126,786,731 Applied Aerospace & Defense (AADX) common shares. These shares continue to be held directly by the partnership, with voting and dispositive power exercised collectively by a Greenbriar-affiliated Board of Managers.

Did AA&D Holdings receive any cash for the AADX share distribution?

No, the filing states that no consideration was paid for the distribution of 11,456,787 AADX shares. The transaction reflects an internal pro rata allocation by AA&D Holdings, LP to its limited partners rather than a cash sale to outside investors.

Are the distributed AADX shares still subject to IPO lock-up restrictions?

Yes, all shares subject to the distribution remain under the existing IPO lock-up restrictions. The restrictions benefit the underwriters from Applied Aerospace & Defense’s initial public offering and continue to apply even after the shares were distributed to the limited partners.

Who controls voting and dispositive power over AA&D Holdings’ AADX shares?

Voting and dispositive power over AA&D Holdings’ AADX shares is exercised by the Board of Managers of Greenbriar Holdings V, LLC. The Board, which includes director Noah Roy, acts by majority vote and disclaims beneficial ownership beyond each member’s pecuniary interest.

Does the AADX Form 4 mention a Rule 10b5-1 trading plan?

The Form 4 indicates the Rule 10b5-1 checkbox is not marked, and there is no footnote stating the distribution was executed under a trading plan. The reported transaction is described instead as an internal pro rata distribution by AA&D Holdings, LP.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

AA&D Holdings, LP

(Last) (First) (Middle)

C/O GREENBRIAR EQUITY GROUP, L.P.

1 GREENWICH PLAZA

(Street)

GREENWICH CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Applied Aerospace & Defense, Inc. [ AADX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/15/2026		J		11,456,787(1)	D	$0(1)	126,786,731	D(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the pro rata distribution of an aggregate of 11,456,787 shares of common stock by AA&D Holdings, LP to its limited partners, including certain directors and officers of the issuer. No consideration was paid in connection with the transaction reported herein. All shares subject to such distribution remain subject to the lock-up restrictions for the benefit of the underwriters implemented in connection with the initial public offering of the issuer.

2. AA&D Holdings, LP is a Delaware limited partnership managed by affiliates of Greenbriar Equity Group, L.P. GB Eagle GP, LLC ("GB Eagle GP") is the general partner of AA&D Holdings, LP. Greenbriar Equity Capital V, L.P. ("Greenbriar Equity Capital") is the sole member of GB Eagle GP. Greenbriar Equity Capital is controlled by its general partner, Greenbriar Holdings V, LLC, which is managed by a board of managers (the "Board of Managers"). Voting and dispositive power of the securities held directly by AA&D Holdings, LP is exercised by majority vote of the Board of Managers, which includes Noah Roy, who also serves as a member of the issuer's board of directors. Each of the foregoing persons disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein.

	AA&D Holdings, LP, By: GB Eagle GP, LLC, its general partner, By: /s/ Noah Blitzer, Vice President	07/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)