Bridger Aerospace Group (BAER) holders tied to Blackstone sell 1.9M shares

Rhea-AI Filing Summary

Entities affiliated with Blackstone, reported as ten percent owners of Bridger Aerospace Group Holdings, Inc., reported open-market sales totaling 1,900,000 shares of common stock on August 4, 2026 at $1.70 per share, through three indirect holding structures described in the footnotes.

The reporting persons generally disclaim beneficial ownership of these securities beyond their pecuniary interests.

Insider Trade Summary

Net Seller: 1,900,000 shares

Net Sell 3 txns

Insider Blackstone Holdings II L.P., Blackstone Inc., Blackstone Tactical Opportunities Fund - FD L.P., Blackstone Tactical Opportunities Associates III - NQ L.P., BTO DE GP - NQ L.L.C., Blackstone Family Tactical Opportunities Investment Partnership III - NQ - ESC L.P., BTO - NQ Side-by-Side GP L.L.C., Blackstone Group Management L.L.C., SCHWARZMAN STEPHEN A

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner

Sold 1,900,000 shs ($3.23M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F4, F5, F6	1,853,665	$1.70	$3.15M
Sale	Common Stock F2, F4, F5, F6	32,019	$1.70	$54K
Sale	Common Stock F3, F4, F5, F6	14,316	$1.70	$24K

Holdings After Transaction: Common Stock — 58,205 shares (Indirect, See Footnotes)

Footnotes (6)

1. F1. Reflects securities of Bridger Aerospace Group Holdings, Inc. (the "Issuer") directly held by BTO Grannus Holdings IV - NQ LLC ("BTO Grannus IV"). BTO Grannus IV is managed by Grannus Holdings Manager - NQ LLC. Blackstone Tactical Opportunities Advisors L.L.C. is the investment manager to BTO Grannus IV. The managing member of Blackstone Tactical Opportunities Advisors L.L.C. is Blackstone Intermediary Holdco L.L.C. The sole member of Blackstone Intermediary Holdco L.L.C. is Blackstone Securities Partners L.P. The general partner of Blackstone Securities Partners L.P. is Blackstone Advisory Services L.L.C. The sole member of Blackstone Advisory Services L.L.C. is Blackstone Holdings I L.P.
2. F2. Reflects securities of the Issuer directly held by Blackstone Tactical Opportunities Fund - FD L.P. ("BTOF FD"). The general partner with management authority over BTOF FD with respect to the Common Stock held thereby is Blackstone Tactical Opportunities Associates III - NQ L.P. The general partner of Blackstone Tactical Opportunities Associates III - NQ L.P. is BTO DE GP - NQ L.L.C. The managing member of BTO DE GP - NQ L.L.C. is Blackstone Holdings II L.P.
3. F3. Reflects securities of the Issuer directly held by Blackstone Family Tactical Opportunities Investment Partnership III - NQ - ESC L.P. ("BFTOIP III"). The general partner of BFTOIP III is BTO - NQ Side-by-Side GP L.L.C. The sole member of BTO-NQ Side-by-Side GP L.L.C. is Blackstone Holdings II L.P.
4. F4. The general partner of Blackstone Holdings I L.P. and Blackstone Holdings II L.P. is Blackstone Holdings I/II GP L.L.C. The sole member of Blackstone Holdings I/II GP L.L.C. is Blackstone Inc. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.
5. F5. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.
6. F6. Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Key Figures

Shares sold, main block: 1,853,665 shares Shares sold, second block: 32,019 shares Shares sold, third block: 14,316 shares +2 more

5 metrics

Shares sold, main block 1,853,665 shares Indirect open-market sale of common stock on August 4, 2026

Shares sold, second block 32,019 shares Additional indirect open-market sale on August 4, 2026

Shares sold, third block 14,316 shares Additional indirect open-market sale on August 4, 2026

Aggregate shares sold 1,900,000 shares Total common stock sold across three transactions

Sale price per share $1.70 per share Price for each reported sale of Bridger Aerospace common stock

Key Terms

indirect ownership, pecuniary interest, Series II preferred stock, Rule 16a-1(a)(4)

4 terms

indirect ownership financial

"Common Stock transaction marked as indirect ownership with nature "See Footnotes""

pecuniary interest regulatory

"disclaims beneficial ownership... except to the extent of such Reporting Person's pecuniary interest"

Series II preferred stock financial

"The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management"

Rule 16a-1(a)(4) regulatory

"pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/06/2026 - 04:31 PM Accepted by SEC EDGAR 08/06/2026 - 04:30 PM Learn about SEC filing dates

FAQ

What insider activity in BAER did Blackstone-affiliated holders report in this Form 4?

The filing reports that Blackstone-affiliated entities, as ten percent owners of Bridger Aerospace (BAER), executed open-market sales of common stock on August 4, 2026, through several indirect ownership structures detailed in the footnotes.

How many Bridger Aerospace (BAER) shares were sold and at what price?

The reporting entities sold an aggregate of 1,900,000 shares of Bridger Aerospace common stock at $1.70 per share, split across three separate indirectly held positions, all on August 4, 2026.

Were the BAER insider sales reported as Rule 10b5-1 plan trades?

No. The filing’s Rule 10b5-1 checkbox is unchecked, so these Bridger Aerospace (BAER) sales are not identified as being executed pursuant to a pre-arranged Rule 10b5-1 trading plan.

Who are the reporting persons for the BAER insider transactions?

The reporting persons include several Blackstone entities, such as Blackstone Holdings II L.P., Blackstone Inc., various Tactical Opportunities funds and GPs, Blackstone Group Management L.L.C., and Stephen A. Schwarzman, all tied through the control structure described in the footnotes.

Do the BAER reporting persons claim full beneficial ownership of the sold shares?

No. The reporting persons generally disclaim beneficial ownership of securities held by other reporting persons, except for their pecuniary interest, and state that inclusion of these securities does not admit beneficial ownership for Section 16 purposes.

Are the BAER shares held directly or indirectly by the reporting persons?

The common stock is held indirectly through entities such as BTO Grannus Holdings IV – NQ LLC and certain Tactical Opportunities funds. The nature of ownership is clarified in detailed organizational footnotes attached to each transaction.

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^*

Blackstone Holdings II L.P.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2026

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

	Form filed by One Reporting Person
X	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	08/04/2026		S		1,853,665	D	$1.7	7,536,230	I	See Footnotes(1)(4)(5)(6)
Common Stock	08/04/2026		S		32,019	D	$1.7	130,175	I	See Footnotes(2)(4)(5)(6)
Common Stock	08/04/2026		S		14,316	D	$1.7	58,205	I	See Footnotes(3)(4)(5)(6)

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

1. Name and Address of Reporting Person^*

Blackstone Holdings II L.P.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Blackstone Inc.

(Last) (First) (Middle)

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Blackstone Tactical Opportunities Fund - FD L.P.

(Last) (First) (Middle)

C/O BLACKSTONE INC.,

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Blackstone Tactical Opportunities Associates III - NQ L.P.

(Last) (First) (Middle)

C/O BLACKSTONE INC.,

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

BTO DE GP - NQ L.L.C.

(Last) (First) (Middle)

C/O BLACKSTONE INC.,

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Blackstone Family Tactical Opportunities Investment Partnership III - NQ - ESC L.P.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

BTO - NQ Side-by-Side GP L.L.C.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Blackstone Group Management L.L.C.

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

SCHWARZMAN STEPHEN A

(Last) (First) (Middle)

C/O BLACKSTONE INC.

345 PARK AVENUE

(Street)

NEW YORK NEW YORK 10154

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. Reflects securities of Bridger Aerospace Group Holdings, Inc. (the "Issuer") directly held by BTO Grannus Holdings IV - NQ LLC ("BTO Grannus IV"). BTO Grannus IV is managed by Grannus Holdings Manager - NQ LLC. Blackstone Tactical Opportunities Advisors L.L.C. is the investment manager to BTO Grannus IV. The managing member of Blackstone Tactical Opportunities Advisors L.L.C. is Blackstone Intermediary Holdco L.L.C. The sole member of Blackstone Intermediary Holdco L.L.C. is Blackstone Securities Partners L.P. The general partner of Blackstone Securities Partners L.P. is Blackstone Advisory Services L.L.C. The sole member of Blackstone Advisory Services L.L.C. is Blackstone Holdings I L.P.

2. Reflects securities of the Issuer directly held by Blackstone Tactical Opportunities Fund - FD L.P. ("BTOF FD"). The general partner with management authority over BTOF FD with respect to the Common Stock held thereby is Blackstone Tactical Opportunities Associates III - NQ L.P. The general partner of Blackstone Tactical Opportunities Associates III - NQ L.P. is BTO DE GP - NQ L.L.C. The managing member of BTO DE GP - NQ L.L.C. is Blackstone Holdings II L.P.

3. Reflects securities of the Issuer directly held by Blackstone Family Tactical Opportunities Investment Partnership III - NQ - ESC L.P. ("BFTOIP III"). The general partner of BFTOIP III is BTO - NQ Side-by-Side GP L.L.C. The sole member of BTO-NQ Side-by-Side GP L.L.C. is Blackstone Holdings II L.P.

4. The general partner of Blackstone Holdings I L.P. and Blackstone Holdings II L.P. is Blackstone Holdings I/II GP L.L.C. The sole member of Blackstone Holdings I/II GP L.L.C. is Blackstone Inc. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.

5. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.

6. Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Remarks:

Because no more than 10 reporting persons can file any one Form 4 through the Securities and Exchange Commission's EDGAR system, certain affiliates of the Reporting Persons have filed separate Forms 4.

	/s/ See Exhibit 99.1	08/06/2026
	** 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)