BLBD insider sale notice — 84,684 shares on NASDAQ valued at $4.78M

Rhea-AI Filing Summary

Blue Bird Corporation (BLBD) is the subject of a Form 144 notice reporting a proposed sale of 84,684 shares of common stock to be executed through Muriel Siebert & Co., Inc. on 08/13/2025 on NASDAQ, with an aggregate market value listed as $4,783,800.00. The filing shows these shares were acquired on 08/13/2025 via a stock option exercise, with cash used to pay the exercise price.

The form also lists recent sales during the past three months by the person for whose account the securities are to be sold (named as Phil Horlock), including sales on 06/10/2025 (8,860 shares, $363,614.00), 06/11/2025 (13,289 shares, $554,106.93), 06/12/2025 (14,875 shares, $615,527.50), and 08/08/2025 (30,000 shares, $1,800,000.00). The filing states the total number of shares outstanding as 31,703,044. The notice is a regulatory disclosure of a planned insider sale and does not itself provide commentary on company operations or forward guidance.

Positive

• The shares to be sold were acquired via a stock option exercise with cash paid for the exercise price, as disclosed.
• The sale is to be executed through a registered broker, Muriel Siebert & Co., Inc., and lists the intended exchange (NASDAQ), reflecting orderly market execution.

Negative

• The filing notifies a proposed sale of 84,684 shares with an aggregate market value of $4,783,800.00, which is a material insider disposition to the market.
• The document discloses multiple recent sales by the same account (Phil Horlock) totaling significant gross proceeds in June and August 2025, which may draw investor attention to insider selling activity.

Insights

Financial Analyst

TL;DR Insider plans to sell 84,684 BLBD shares (listed value $4.78M); recent sales by the same account are also disclosed.

The Form 144 documents a proposed sale executed through a registered broker and confirms the shares being sold were acquired by a stock option exercise paid in cash. For investors, the filing is a standard disclosure that notifies the market of an intended insider sale; it provides clear transactional detail but no operational or earnings information. The listing of recent sales by the same account — totaling 66, (8,860+13,289+14,875+30,000) shares across June and August 2025 with disclosed gross proceeds — shows prior dispositions but the filing does not state any change in ownership percentage or motive. Impact is primarily informational unless paired with additional company developments.

Corporate Governance Expert

TL;DR The filing signals insider liquidity activity; disclosure is complete but may draw investor attention to insider selling.

The Form 144 includes required details: broker name, number of shares, acquisition method, exercise payment method, and recent sales by the same account. From a governance perspective, transparent reporting via this form meets regulatory expectations. The presence of multiple recent sales by the named seller (Phil Horlock) could prompt questions from shareholders about insider selling patterns, although the filing contains no allegations, performance data, or statements on intent. Without additional context, the filing is a compliance disclosure rather than evidence of governance failure.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Muriel Siebert & Co., Inc. 18045 Oak Street Omaha NE 68130	84684	4783800.00	31703044	08/13/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common stock	08/13/2025	Stock option exercise	Issuer			84684	08/13/2025	Cash paid for exercise price

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Phil Horlock 3920 ARKWRIGHT ROAD SUITE 200 MACON GA 31210	Common Stock	06/10/2025	8860	363614.00
Phil Horlock 3920 ARKWRIGHT ROAD SUITE 200 MACON GA 31210	Common Stock	06/11/2025	13289	554106.93
Phil Horlock 3920 ARKWRIGHT ROAD SUITE 200 MACON GA 31210	Common Stock	06/12/2025	14875	615527.50
Phil Horlock 3920 ARKWRIGHT ROAD SUITE 200 MACON GA 31210	Common Stock	08/08/2025	30000	1800000.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does BLBD's Form 144 report?

The Form 144 reports a proposed sale of 84,684 shares of Blue Bird common stock to be sold on 08/13/2025 through Muriel Siebert & Co., Inc. on NASDAQ with an aggregate market value of $4,783,800.00.

How were the shares being sold acquired?

The filing states the shares were acquired on 08/13/2025 by stock option exercise, and payment was made in cash for the exercise price.

Has the person sold BLBD shares recently?

Yes. The filing lists sales by Phil Horlock in the past three months: 06/10/2025 (8,860 shares, $363,614.00), 06/11/2025 (13,289 shares, $554,106.93), 06/12/2025 (14,875 shares, $615,527.50), and 08/08/2025 (30,000 shares, $1,800,000.00).

What is the number of BLBD shares outstanding reported in the filing?

The Form 144 lists the number of shares outstanding as 31,703,044.

Which broker will handle the proposed sale?

The broker named in the filing is Muriel Siebert & Co., Inc., 18045 Oak Street, Omaha NE 68130.