[Form 4] BlackSky Technology Inc. Insider Trading Activity

Rhea-AI Filing Summary

BlackSky Technology Inc. (BKSY) Form 4 summary: Director William D. Porteous was granted 8,625 restricted stock units (RSUs) on 09/11/2025 as part of the companys Outside Director Compensation Policy. Each RSU converts into one share of Class A common stock and vests in full on the earlier of the one-year anniversary of the award or the issuers next annual meeting, subject to continued board service. Following the grant, Porteous directly beneficially owns 73,075 Class A shares and indirectly is reported to have an interest in 719,881 shares held by RRE Ventures IV, L.P.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation grant with standard vesting; increases director alignment with shareholders.

The RSU award follows a common outside director compensation practice: equity granted to align interests and incentivize continued service. Vesting is time-based (one year or next annual meeting), which is typical and non-performance contingent. The disclosure shows both direct ownership and an indirect interest via a venture fund, with disclaimers limiting claimed beneficial ownership to pecuniary interest. This filing appears routine and not materially dilutive at the reported grant size.

Securities Analyst

TL;DR: Small, non-cash equity grant; ownership figures clarified for reporting transparency.

The transaction code and footnotes identify the award as restricted stock units granted at $0 purchase price, indicating compensation rather than a market purchase. The reporting shows 8,625 RSUs added to direct holdings of 73,075 shares, and an indirect interest of 719,881 shares through RRE Ventures IV. The filing contains customary disclaimers by GP and individuals regarding beneficial ownership. No derivative instruments or sales are reported.

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

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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^*

Porteous William D.

(Last) (First) (Middle)

C/O BLACKSKY TECHNOLOGY INC.,

2411 DULLES CORNER PARK, SUITE 300

(Street)

HERNDON VA 20171

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BlackSky Technology Inc. [ BKSY ]

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)
09/11/2025

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
Class A Common Stock	09/11/2025		A		8,625(1)	A	$0	73,075	D
Class A Common Stock								719,881	I	See footnote(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. These securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. The RSUs are awarded in connection with the Company's Outside Director Compensation Policy and will vest in full upon the earlier of the one-year anniversary of the award date or the date of the Issuer's next annual meeting of the stockholders, in each case subject to the Reporting Person's continued service on the Issuer's board of directors through the applicable vesting date.

2. These shares are held by RRE Ventures IV, L.P. ("Ventures IV"). The general partner of Ventures IV is RRE Ventures GP VI, LLC ("GP VI"). The managing members and officers of GP VI are James D. Robinson IV, Stuart J. Ellman, and William D. Porteous. Each of GP VI and Messrs. Robinson IV, Ellman, and Porteous disclaim beneficial ownership of the securities reported on this Form 4, except to the extent of its or his pecuniary interest therein, if any.

Remarks:

	/s/ Christiana L. Lin, attorney-in-fact on behalf of William D. Porteous	09/11/2025
	** 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.
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FAQ

What did William D. Porteous report on the Form 4 for BKSY?

He reported receipt of 8,625 restricted stock units (RSUs) on 09/11/2025, and beneficial ownership of 73,075 Class A shares directly plus an indirect interest in 719,881 shares held by RRE Ventures IV, L.P.

When do the RSUs granted to Porteous vest?

The RSUs vest in full on the earlier of the one-year anniversary of the award or the issuers next annual meeting of stockholders, subject to continued board service.

Were any shares purchased for cash in this transaction?

No. The Form 4 indicates the RSUs were awarded at a $0 price as director compensation rather than a purchase.

Does Porteous claim beneficial ownership of all shares held by RRE Ventures IV?

No. The filing includes a footnote where GP VI and individuals, including Porteous, disclaim beneficial ownership of the RRE Ventures IV shares except to the extent of any pecuniary interest.

Does the Form 4 report any derivative securities or sales by Porteous?

No. Table II shows no derivative transactions and Table I reports only the RSU award and ownership figures; there are no sales reported.