Islet Management, LP and Joseph Samuels reported beneficial ownership of 7,500,000 Ordinary Shares of Vertical Aerospace Ltd., representing 7.33% of the class as of April 3, 2026. The filing states this percentage is calculated using 102,328,004 shares outstanding as of February 27, 2026, per the company's Annual Report on Form 20-F.
The Schedule 13G says Islet acts as investment manager to an account that holds the shares and that Mr. Samuels, as CEO and CIO of Islet, shares voting and dispositive power over those 7,500,000 shares. The filing is a passive beneficial-ownership disclosure under Schedule 13G.
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Insights
Islet and its CIO report a sizable passive stake: 7.5M shares (7.33%), using the issuer's Feb 27, 2026 outstanding count.
Islet is disclosed as the investment manager for a single account that directly owns the shares; Islet and Joseph Samuels each report shared voting and dispositive power over 7,500,000 shares. The filing references the issuer's Form 20-F for the outstanding-share base of 102,328,004.
As a Schedule 13G, this is a passive ownership report rather than an active acquisition filing; the economic and voting influence will depend on future holder actions and any amendments that might convert this to an active filing if involvement changes.
Key Figures
Beneficial ownership:7,500,000 sharesPercent of class:7.33%Shares outstanding:102,328,004 shares
3 metrics
Beneficial ownership7,500,000 sharesAmount beneficially owned as of <date>April 3, 2026</date>
Percent of class<percent>7.33%</percent>Percent of Ordinary Shares calculated using outstanding shares as of <date>February 27, 2026</date>
Shares outstanding102,328,004 sharesShares outstanding as of <date>February 27, 2026</date>, per the issuer's Form 20-F
"As of April 3, 2026, the Account directly beneficially owned 7,500,000 shares"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared dispositive powerregulatory
"Shared Dispositive Power 7,500,000.00"
Schedule 13Gregulatory
"This filing relates to shares of Ordinary shares ... (the "Common Stock")"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Vertical Aerospace Ltd.
(Name of Issuer)
Ordinary Shares, Par Value $0.001 Per Share
(Title of Class of Securities)
G9471C206
(CUSIP Number)
03/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G9471C206
1
Names of Reporting Persons
Islet Management, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
7,500,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,500,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,500,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.33 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
G9471C206
1
Names of Reporting Persons
Joseph Samuels
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
7,500,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,500,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,500,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.33 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Vertical Aerospace Ltd.
(b)
Address of issuer's principal executive offices:
Unit 1 Camwal Court, Chapel Street, Bristol, United Kingdom, BS2 0UW
Item 2.
(a)
Name of person filing:
This Schedule 13G filing relates to shares of Ordinary shares, par value $0.001 per share (the "Common Stock"), of the Issuer.
This Schedule 13G is being filed on behalf of the following persons/entities (collectively, the "Reporting Persons"):
Islet Management, LP ("Islet")
Joseph Samuels
(b)
Address or principal business office or, if none, residence:
590 Madison Avenue, 27th Floor
New York, NY 10022
(c)
Citizenship:
Islet is organized under the laws of the State of Delaware.
Joseph Samuels is a United States citizen.
(d)
Title of class of securities:
Ordinary Shares, Par Value $0.001 Per Share
(e)
CUSIP Number(s):
G9471C206
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The reskponses to Items 5-11 of the cover pages of this Schedule 13G are incorporated herein by reference.
Islet acts as investment manager to, and exercises investment discretion with respect to the one account that holds the securities of the issuer described herein (the "Account"). Mr. Samuels is the Chief Executive Officer and Chief Investment Officer of Islet. As investment manager to the Account, Islet, pursuant to investment advisory agreements, has discretionary investment authority and voting power with respect to the Common Stock beneficially owned by the Account. Thus, it could be deemed to have the power to vote and dispose or direct the disposition of such Common Stock held by the Account.
As the Chief Executive Officer and Chief Investment Officer of Islet, Mr. Samuels has the ability to exercise investment discretion over the Account. Thus, he could be deemed to share the power to vote and dispose or direct the disposition of the Common Stock beneficially owned by the Account.
As of April 3, 2026, the Account directly beneficially owned 7,500,000 shares of Common Stock representing 7.33% of the shares of Common Stock outstanding.
Calculations of the percentage of shares of Common Stock beneficially owned are based on 102,328,004 shares of Common Stock outstanding as of February 27, 2026, as reported in the Annual Report on Form 20-F filed by the Issuer witht he Securities and Exchange Commission on March 24, 2026.
(b)
Percent of class:
See Item 4(a) above
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Item 5 of each cover page hereof.
(ii) Shared power to vote or to direct the vote:
See Item 6 of each cover page hereof.
(iii) Sole power to dispose or to direct the disposition of:
See Item 7 of each cover page hereof.
(iv) Shared power to dispose or to direct the disposition of:
See Item 8 of each cover page hereof.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Islet Management hold in Vertical Aerospace (EVTL)?
Islet Management and Joseph Samuels beneficially own 7,500,000 shares, or 7.33%. The filing reports this figure as of April 3, 2026, using 102,328,004 shares outstanding as of February 27, 2026.
Does the Schedule 13G indicate Islet has voting control over EVTL shares?
Yes — the filing reports shared voting and dispositive power over 7,500,000 shares. Islet acts as investment manager to the Account and Mr. Samuels, as CEO/CIO, shares investment discretion per the filing.
What outstanding-share figure is used to calculate the 7.33% ownership?
The calculation uses 102,328,004 shares outstanding. That outstanding count is cited as of February 27, 2026 from the company's Annual Report on Form 20-F.
Is this filing an active acquisition or passive holding disclosure?
This Schedule 13G is a passive beneficial-ownership disclosure. The form reports a passive position held by an investment manager rather than an itemizing of an active acquisition strategy.
Who signed the Schedule 13G for the reporting persons?
The filing is signed by Rebecca Waldman, General Counsel, and Joseph Samuels. Signatures are dated April 3, 2026 on the submitted cover pages.
