Firefly CFO granted 26,629 RSUs in Form 4

Ma Darren reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Ma Darren reported acquisition or exercise transactions in this Form 4 filing.

Firefly Aerospace Inc. reported that its Chief Financial Officer, Darren Ma, received a grant of 26,629 shares of Common Stock in the form of restricted stock units under the Firefly Aerospace Inc. 2025 Omnibus Incentive Plan. These RSUs were awarded at no cash cost as equity compensation.

One-third of the RSUs vest on the one-year anniversary of the grant date, with 1/12 of the RSUs vesting quarterly thereafter so that all units vest by the third anniversary, subject to his continued employment. Following this grant, Ma directly holds 260,943 shares of Common Stock.

Insider Trade Summary

Grant/Award: 27,397 shares

Grant/Award 2 txns

Insider Ma Darren

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	26,629	$0.00	$0.00
Grant/Award	Common Stock	768	$0.00	$0.00

Holdings After Transaction: Common Stock — 260,943 shares (Direct)

Footnotes (1)

1. F1. Represents restricted stock units ("RSUs") granted under the Firefly Aerospace Inc. 2025 Omnibus Incentive Plan. One-third of the RSUs vest at the one-year anniversary of the grant date, and 1/12 of the RSUs vest quarterly thereafter (such that the RSUs will be fully vested at the third anniversary of the grant date), subject in each case to the reporting person's continued employment with the Issuer through the respective vesting date.

FAQ

What did Firefly Aerospace (FLY) CFO Darren Ma report in this Form 4?

CFO Darren Ma reported receiving 26,629 restricted stock units of Common Stock as equity compensation. The award was granted at no cash cost and increases his direct holdings to 260,943 shares, aligning his incentives more closely with Firefly Aerospace’s long-term performance.

How do Darren Ma’s new RSUs at Firefly Aerospace (FLY) vest over time?

The RSUs vest over three years, with one-third vesting on the first anniversary of the grant date. After that, 1/12 of the RSUs vest quarterly so the entire award is vested by the third anniversary, assuming continued employment throughout the vesting period.

Is the Firefly Aerospace (FLY) CFO’s Form 4 transaction a stock purchase or a grant?

The Form 4 shows a stock grant, not an open-market purchase. Darren Ma received 26,629 shares of Common Stock as restricted stock units awarded under the 2025 Omnibus Incentive Plan, with a reported price of $0.0000 per share, reflecting compensation rather than a cash investment.

What is Darren Ma’s total Firefly Aerospace (FLY) share ownership after this RSU grant?

After the reported grant, Darren Ma directly holds 260,943 shares of Firefly Aerospace Common Stock. This total includes the newly granted 26,629 restricted stock units, which will vest over three years, tying his compensation to the company’s ongoing performance and tenure.

Under which plan were the new Firefly Aerospace (FLY) RSUs to the CFO granted?

The new restricted stock units granted to CFO Darren Ma were issued under the Firefly Aerospace Inc. 2025 Omnibus Incentive Plan. This plan provides equity-based awards, such as RSUs, designed to compensate and retain key employees through long-term stock-based incentives.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/12/2026 - 04:30 PM Learn about SEC filing dates

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
Estimated average burden
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^*

Ma Darren

(Last) (First) (Middle)

C/O FIREFLY AEROSPACE INC.

1320 ARROW POINT DRIVE #109

(Street)

CEDAR PARK TX 78613

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Firefly Aerospace Inc. [ FLY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/24/2025

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
Common Stock	08/24/2025		A		768(1)	A	$0	234,314	D
Common Stock	03/10/2026		A		26,629(1)	A	$0	260,943	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

Explanation of Responses:

1. Represents restricted stock units ("RSUs") granted under the Firefly Aerospace Inc. 2025 Omnibus Incentive Plan. One-third of the RSUs vest at the one-year anniversary of the grant date, and 1/12 of the RSUs vest quarterly thereafter (such that the RSUs will be fully vested at the third anniversary of the grant date), subject in each case to the reporting person's continued employment with the Issuer through the respective vesting date.

	/s/ David Wheeler, Attorney-in-fact	03/12/2026
	** 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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