BigBear.ai Holdings, Inc. (BBAI) SEC Filings, Jan-Mar 2026

Morgan Stanley Smith Barney LLC reports proposed sales of Common stock under Rule 144. The notice lists 11,634 shares tied to restricted stock vesting with a 09/30/2023 service date and 5,366 shares tied to restricted stock vesting with a 07/02/2024.

The filings identify the securities as restricted shares issued for services and list Morgan Stanley Smith Barney LLC as the broker-dealer handling the transactions.

BigBear.ai Holdings, Inc. reported that its Chief Financial Officer, Sean Raymond Ricker, received an equity award and had shares withheld for taxes. On March 2, 2026, he was granted 49,999 shares of Common Stock at a price of $0.00 per share, representing performance stock units earned upon meeting performance metrics. On the same date, 18,725 shares of Common Stock at $3.96 per share were disposed of to satisfy tax withholding obligations tied to the vesting of those performance stock units. Following these transactions, his directly held Common Stock position was reported as 512,138 shares.

BigBear.ai Holdings, Inc. General Counsel and Secretary Carolyn Blankenship reported equity compensation activity involving the company’s common stock. She received a grant of 36,143 Performance Stock Units upon achievement of specified performance metrics and had 15,075 shares withheld at a price of $3.96 per share to cover tax obligations on PSU vesting, leaving her with 671,325 directly held shares.

BigBear.ai Holdings, Inc. CEO Kevin McAleenan reported equity compensation transactions in the company’s common stock. On March 2, 2026, he acquired 104,311 shares at $0.00 per share as a grant of Performance Stock Units awarded upon achievement of performance metrics. On the same date, 46,449 shares at $3.96 per share were disposed of to cover tax withholding obligations upon vesting of those units. Following these transactions, he directly owned 1,223,156 common shares.

BigBear.ai Holdings, Inc. files its annual report describing a specialized AI business focused on national security, travel, and trade, with deep exposure to U.S. government customers. The company emphasizes mission-ready AI, computer vision, predictive analytics, biometrics, and logistics solutions.

Management highlights a much stronger balance sheet: market capitalization rose from approximately $1.1 billion in January 2024 to $2.4 billion in December 2025, while cash, cash equivalents, and available-for-sale debt securities increased from $50.1 million to $461.5 million as of December 31, 2025. Total debt fell from $142.3 million as of December 31, 2025 to $17.7 million subsequent to year-end.

The report notes the acquisition of Ask Sage, a FedRAMP-authorized generative AI platform serving defense and intelligence users, and the purchase of CargoSeer assets for cargo inspection and trade risk management. BigBear.ai discloses heavy reliance on public-sector contracts, significant customer concentration, long and unpredictable sales cycles, and extensive risk factors tied to government budgets, regulation, competition, and AI-related issues.

BigBear.ai Holdings reported weaker 2025 revenue but a much stronger balance sheet and set growth targets for 2026. Fourth-quarter 2025 revenue fell to $27.3 million from $43.8 million, and full-year revenue declined to $127.7 million from $158.2 million, mainly from lower Army program volumes. Gross margin for the quarter dropped to 20.3% from 37.4%. The quarterly net loss narrowed sharply to $5.8 million from $138.2 million, helped by a $50.2 million non-cash gain on derivatives and a $21.7 million tax benefit, partially offset by a $53.4 million impairment of long-lived assets.

The company ended 2025 with $462 million in cash and investments and said it has reduced its debt by more than 90%, including settling the remaining $125 million of 2029 convertible notes primarily via debt-to-equity conversions in January 2026. It raised $693 million of proceeds in 2025 through at-the-market equity facilities and warrants. BigBear.ai closed the acquisition of Ask Sage in December 2025 and CargoSeer in January 2026 and expanded into the Middle East. For 2026, it projects revenue between $135 million and $165 million, about 17% growth at the midpoint over 2025.

BigBear.ai Holdings, Inc. Chief Executive Officer and director Kevin McAleenan reported a routine share withholding related to equity compensation. On 01/15/2026, 48,691 shares of common stock were withheld at a price of $6.26 per share to satisfy tax obligations arising from the vesting of restricted stock units.

After this tax withholding, McAleenan beneficially owned 1,165,294 shares of BigBear.ai common stock in direct ownership. The transaction did not involve an open‑market sale, but an administrative share reduction to cover taxes on vested awards.

BigBear.ai Holdings, Inc. disclosed an insider equity transaction by its Chief Financial Officer. On 12/31/2025, the CFO had 6,625 shares of common stock withheld at a price of $5.5 per share. The filing explains that these shares were withheld to satisfy tax withholding obligations related to the vesting of restricted stock units.

After this tax-related withholding, the CFO beneficially owned 480,864 shares of BigBear.ai common stock, held directly.

BigBear.ai Holdings, Inc. insider filing shows routine tax withholding and updated holdings. General Counsel and Secretary Carolyn Blankenship reported a 12/31/2025 transaction in company common stock. The filing shows 5,945 shares of common stock were withheld to satisfy tax obligations upon vesting of restricted stock units at a price of $5.5 per share. After this withholding, she beneficially owns 650,257 shares of BigBear.ai common stock. This total includes 3,222 shares acquired under the BigBear.ai Holdings, Inc. Employee Stock Purchase Plan on December 1, 2025.