Firefly Aerospace GC exercises options, sells 3,765 shares

Firefly Aerospace Inc.'s General Counsel, David Leigh Wheeler, reported an exercise-and-sale transaction in company stock.

Rhea-AI Filing Summary

Firefly Aerospace Inc.'s General Counsel, David Leigh Wheeler, reported an exercise-and-sale transaction in company stock. He exercised employee stock options to acquire 3,765 shares of common stock at an exercise price of $2.3106 per share and sold 3,765 shares in open-market transactions at a weighted average price of $45.1221 per share.

Following these transactions, he directly holds 142,758 shares of common stock and 295,992 employee stock options. The filing notes that all option shares were fully vested and that the trades were carried out under a pre-arranged Rule 10b5-1 Plan adopted on December 5, 2025.

Insider Trade Summary 10b5-1

Exercise and Sale: 3,765 shares ($161K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Wheeler David Leigh

Role General Counsel

Sold 3,765 shs ($170K)

Approx. gross sale proceeds $170K

Approx. exercise cost $9K

Approx. pre-tax spread $161K

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	3,765	$0.00	$0.00
Exercise	Common Stock	3,765	$2.3106	$9K
Sale	Common Stock	3,765	$45.1221	$170K

Holdings After Transaction: Employee Stock Option (right to buy) — 295,992 contracts (Direct); Common Stock — 142,758 shares (Direct)

Footnotes (4)

1. F1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on December 5, 2025.
2. F2. Represents a weighted average sale price of $45.1221 per share (with individual transaction prices ranging from $45.00 to $45.35 per share, inclusive). The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. F3. A portion of these securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's common stock.
4. F4. All of the shares subject to the option are fully vested and exercisable as of the date hereof.

Key Figures

Shares sold: 3,765 shares Sale price: $45.1221 per share Option exercise size: 3,765 shares +3 more

6 metrics

Shares sold 3,765 shares Common stock open-market sale on May 18, 2026

Sale price $45.1221 per share Weighted average sale price for 3,765 shares

Option exercise size 3,765 shares Employee stock option exercise into common stock

Option exercise price $2.3106 per share Employee stock option exercise price

Shares held after 142,758 shares Direct common stock ownership after transactions

Options remaining 295,992 options Employee stock options held after the exercise

Key Terms

Rule 10b5-1 Plan, Restricted Stock Units ("RSUs"), Employee Stock Option (right to buy), open-market sale

4 terms

Rule 10b5-1 Plan regulatory

"The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on December 5, 2025."

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

Restricted Stock Units ("RSUs") financial

"A portion of these securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's common stock."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Employee Stock Option (right to buy) financial

"Employee Stock Option (right to buy) ... All of the shares subject to the option are fully vested and exercisable as of the date hereof."

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Firefly Aerospace (FLY) report for its General Counsel?

Firefly Aerospace’s General Counsel exercised options for 3,765 common shares and sold 3,765 shares in open-market trades. The sale and exercise occurred on the same date, forming a typical exercise-and-sell pattern rather than a new open-market share purchase.

At what prices did the Firefly Aerospace (FLY) insider exercise and sell shares?

The insider exercised employee stock options at an exercise price of $2.3106 per share and sold 3,765 common shares at a weighted average price of $45.1221. Individual sale prices ranged from $45.00 to $45.35 per share, according to the disclosure.

How many Firefly Aerospace (FLY) shares does the General Counsel hold after this Form 4?

After the reported transactions, the General Counsel directly holds 142,758 shares of Firefly Aerospace common stock. He also holds 295,992 employee stock options, some of which were exercised in this filing while the remainder continue as derivative positions.

Were the Firefly Aerospace (FLY) insider trades made under a Rule 10b5-1 plan?

Yes. The filing states the transactions were effected under a Rule 10b5-1 Plan adopted on December 5, 2025. Such pre-arranged trading plans schedule transactions in advance, which can make the timing less indicative of the insider’s short-term market views.

What type of securities were involved in the Firefly Aerospace (FLY) Form 4?

The Form 4 involves Firefly Aerospace common stock and employee stock options. Options to buy 3,765 shares at $2.3106 per share were exercised into common stock, and 3,765 common shares were then sold in open-market transactions at a higher weighted average sale price.

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

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Accepted by SEC EDGAR 05/19/2026 - 06:25 PM EDT 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).

X

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^*

Wheeler David Leigh

(Last) (First) (Middle)

C/O FIREFLY AEROSPACE INC.

2203 SCOTTSDALE DRIVE

(Street)

LEANDER TEXAS 78641

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	General Counsel

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/18/2026		M(1)		3,765	A	$2.3106	146,523(3)	D
Common Stock	05/18/2026		S(1)		3,765	D	$45.1221(2)	142,758(3)	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
Employee Stock Option (right to buy)	$2.3106	05/18/2026		M(1)			3,765	(4)	05/05/2035	Common Stock	3,765	$0	295,992	D

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on December 5, 2025.

2. Represents a weighted average sale price of $45.1221 per share (with individual transaction prices ranging from $45.00 to $45.35 per share, inclusive). The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. A portion of these securities are Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's common stock.

4. All of the shares subject to the option are fully vested and exercisable as of the date hereof.

	/s/ David Leigh Wheeler	05/19/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)