BlackSky Controller Increases Stake Through Options Exercise

Rhea-AI Filing Summary

BlackSky Technology (NYSE:BKSY) reported insider trading activity through a Form 4 filing. SVP & Controller Tracy Ward exercised stock options and acquired a total of 10,852 shares of Class A Common Stock at an exercise price of $11.59 per share on June 16, 2025. The transactions involved exercising two sets of fully vested options: 8,407 shares from options expiring in 2030 and 2,445 shares from options expiring in 2029. Following these transactions, Ward directly owns 44,998 shares of Class A Common Stock.

Positive

• Controller maintains equity position by holding exercised shares rather than selling

Negative

• None.

Insights

Compensation Analyst

Routine options exercise by controller suggests confidence in maintaining equity position rather than immediate liquidation.

The exercise of fully vested options by the SVP & Controller represents standard executive compensation activity. The timing of the exercise, well before expiration dates (2029 and 2030), and the decision to hold the shares rather than immediately sell them could indicate confidence in the company's near-term prospects. The exercise price of $11.59 for both option grants and the retention of shares post-exercise warrants attention from a compensation structure perspective.

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
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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^*

Ward Tracy

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2025

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	06/16/2025		M		8,407	A	$11.59	42,553	D
Class A Common Stock	06/16/2025		M		2,445	A	$11.59	44,998	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
Options (Right To Buy)	$11.59	06/16/2025		M			8,407	(1)	03/03/2030	Class A Common Stock	8,407	$0	0	D
Options (Right To Buy)	$11.59	06/16/2025		M			2,554	(2)	05/19/2029	Class A Common Stock	2,554	$0	0	D

Explanation of Responses:

1. The shares subject to the Options fully vested on October 31, 2023.

2. The shares subject to the Option fully vested on April 1, 2023.

Remarks:

	/s/ Christiana L. Lin, attorney-in-fact on behalf of Tracy Ward	06/25/2025
	** 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

How many shares did BlackSky's SVP & Controller acquire through option exercises?

Tracy Ward acquired a total of 10,852 shares of Class A Common Stock through the exercise of two sets of options at $11.59 per share.

What is Tracy Ward's total direct ownership in BKSY after these transactions?

Following the options exercise, Tracy Ward directly owns 44,998 shares of BlackSky Technology Class A Common Stock.

What was the exercise price of the BKSY options?

The options were exercised at a price of $11.59 per share for both sets of options.