[Form 4] Bridger Aerospace Group Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Bridger Aerospace Group Holdings, Inc. (BAER) reported an equity award to one of its directors. On November 25, 2025, the director received 154,145 restricted stock units (RSUs) of Bridger Aerospace common stock at a price of $0.00 per unit, indicating this was a compensatory grant rather than a market purchase. After this award, the director beneficially owned 428,326 shares of common stock.

Each RSU represents the right to receive one share of common stock in the future. These RSUs are scheduled to vest on the 12-month anniversary of November 25, 2025, and the director must remain in service with the company through that date for the units to vest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Drohan Dan

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	154,145	$0.00	--

Holdings After Transaction: Common Stock — 428,326 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Drohan Dan

(Last) (First) (Middle)

C/O BRIDGER AEROSPACE GROUP HLDGS, INC.

90 AVIATION LANE

(Street)

BELGRADE MT 59714

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bridger Aerospace Group Holdings, Inc. [ BAER ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2025

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

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

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

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	11/25/2025		A		154,145(1)	A	$0.00	428,326	D

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. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock. These RSUs shall vest on the 12-month anniversary of November 25, 2025, subject to the Reporting Person's continued service through such date.

	/s/ James Muchmore, attorney-in-fact for Dan Drohan	11/26/2025
	** 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.

FAQ

What insider transaction did Bridger Aerospace (BAER) report in this Form 4?

The company reported that a director received 154,145 restricted stock units (RSUs) of Bridger Aerospace common stock on November 25, 2025 at a price of $0.00 per unit.

How many Bridger Aerospace (BAER) shares does the director own after this grant?

Following the reported RSU grant, the director beneficially owned 428,326 shares of Bridger Aerospace common stock in total.

When do the newly granted RSUs for Bridger Aerospace (BAER) vest?

The 154,145 RSUs are scheduled to vest on the 12-month anniversary of November 25, 2025, subject to the director’s continued service through that date.

What does each Bridger Aerospace (BAER) RSU represent in this Form 4?

Each restricted stock unit represents a contingent right to receive one share of Bridger Aerospace common stock in the future, upon vesting.

Was this Bridger Aerospace (BAER) insider transaction a market purchase?

No. The Form 4 shows the director acquired 154,145 RSUs at a price of $0.00, indicating an equity compensation grant, not an open-market purchase.

What is the reporting person’s role at Bridger Aerospace (BAER)?

The reporting person is identified as a director of Bridger Aerospace Group Holdings, Inc.