Hymowitz group lifts flyExclusive (FLYX) reported stake to 83.9% of shares

Rhea-AI Filing Summary

flyExclusive, Inc. received an updated Schedule 13D/A from Gregg S. Hymowitz and affiliated EnTrust entities reflecting very high beneficial ownership of its Class A Common Stock. Hymowitz is reported to beneficially own 35,516,090 shares, representing 83.9% of the outstanding Class A shares.

The filing explains that EnTrust Emerald (Cayman) LP and EG Sponsor LLC converted their Series B Convertible Preferred Stock into Class A Common Stock. On December 31, 2025, principal plus accrued interest and dividends automatically converted at $3.443441 per share, resulting in 7,200,999 and 3,193,089 Class A shares issued on January 7, 2026.

Insights

Equity ownership & governance analyst

Hymowitz and EnTrust affiliates now report control-level stakes in flyExclusive.

The amendment shows Gregg S. Hymowitz beneficially owning 35,516,090 Class A shares, or 83.9% of the class, with EnTrust-related entities also reporting large overlapping positions based on common stock and warrants calculated under Rule 13d-3.

A key change is the automatic conversion of Series B Convertible Preferred Stock into Class A stock at $3.443441 per share on December 31, 2025, yielding 7,200,999 shares for EnTrust Emerald (Cayman) LP and 3,193,089 shares for EG Sponsor LLC on January 7, 2026. This increases reported common equity exposure.

The filing emphasizes that ownership percentages use 31,184,738 Class A shares outstanding as of December 31, 2025, plus specified warrants, and exclude 59,930,000 Common Units and most public warrants. Actual influence will reflect this concentrated beneficial ownership structure.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

flyExclusive, Inc. (f/k/a EG Acquisition Corp.)

(Name of Issuer)

Class A Common Stock, $0.0001 par value

(Title of Class of Securities)

343928107

(CUSIP Number)

Gregg S. Hymowitz
375 Park Avenue, 24th Floor,
New York, NY, 10152
212-888-1040

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

12/31/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

Gregg S. Hymowitz

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 35,516,090.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 35,516,090.00

11

Aggregate amount beneficially owned by each reporting person

35,516,090.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

83.9 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Amounts in rows 8, 10, and 11 consist of the shares held by the reporting persons as set forth below. Percentage in row 13 represented by the amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026, as well as the warrants to purchase 4,902,190 shares of Class A Common Stock and the warrants to purchase 2,268,100 shares of Class A Common Stock beneficially owned by the Sponsor, and the warrants to purchase 4,000,000 shares of Class A Common Stock beneficially owned by EnTrust Emerald (Cayman) LP. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons.

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

EG Sponsor LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 15,988,379.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 15,988,379.00

11

Aggregate amount beneficially owned by each reporting person

15,988,379.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

41.7 %

14

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person:

Amounts in rows 8, 10 and 11 consist of (i) 8,818,089 shares of Class A Common Stock held by EG Sponsor LLC ("Sponsor"), (ii) the warrants held by Sponsor to purchase 4,902,190 shares of Class A Common Stock, and (iii) the warrants held by Sponsor to purchase 2,268,100 shares of Class A Common Stock. EnTrust Global Partners Offshore LP is the managing member of the Sponsor and as such has voting and investment discretion with respect to the Class A Common Stock held of record by the Sponsor and may be deemed to have shared beneficial ownership (along with EnTrust Global Group LLC, EnTrust Global LLC, GH EP Holdings LLC and Sponsor) of the Class A Common Stock held directly by the Sponsor. Gregg Hymowitz is the managing member of GH EP Holdings, LLC, which is the managing member of EnTrust Global LLC, which is the managing member of EnTrust Global Group LLC, which serves as the general partner of EnTrust Global Partners Offshore LP, and as a result, may be deemed to have shared beneficial ownership of the common stock held directly by the Sponsor. An affiliate of GMF Capital has an approximately 50% membership interest in the Sponsor. Percentage in row 13 represented by amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026, as well as the warrants to purchase 4,902,190 shares of Class A Common Stock and the warrants to purchase 2,268,100 shares of Class A Common Stock beneficially owned by the Sponsor. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons.

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

EnTrust Global Partners Offshore LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 15,988,379.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 15,988,379.00

11

Aggregate amount beneficially owned by each reporting person

15,988,379.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

41.7 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

Amounts in rows 8, 10 and 11 consist of (i) 8,818,089 shares of Class A Common Stock held by Sponsor, (ii) the warrants held by Sponsor to purchase 4,902,190 shares of Class A Common Stock, and (iii) the warrants held by Sponsor to purchase 2,268,100 shares of Class A Common Stock. EnTrust Global Partners Offshore LP is the managing member of the Sponsor and as such has voting and investment discretion with respect to the Class A Common Stock held of record by the Sponsor and may be deemed to have shared beneficial ownership (along with EnTrust Global Group LLC, EnTrust Global LLC, GH EP Holdings LLC and Sponsor) of the Class A Common Stock held directly by the Sponsor. Gregg Hymowitz is the managing member of GH EP Holdings, LLC, which is the managing member of EnTrust Global LLC, which is the managing member of EnTrust Global Group LLC, which serves as the general partner of EnTrust Global Partners Offshore LP, and as a result, may be deemed to have shared beneficial ownership of the common stock held directly by the Sponsor. An affiliate of GMF Capital has an approximately 50% membership interest in the Sponsor. Percentage in row 13 represented by amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026, as well as the warrants to purchase 4,902,190 shares of Class A Common Stock and the warrants to purchase 2,268,100 shares of Class A Common Stock beneficially owned by the Sponsor. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons.

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

GH EP Holdings LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 15,988,379.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 15,988,379.00

11

Aggregate amount beneficially owned by each reporting person

15,988,379.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

41.7 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Amounts in rows 8, 10 and 11 consist of (i) 8,818,089 shares of Class A Common Stock held by Sponsor, (ii) the warrants held by Sponsor to purchase 4,902,190 shares of Class A Common Stock, and (iii) the warrants held by Sponsor to purchase 2,268,100 shares of Class A Common Stock. EnTrust Global Partners Offshore LP is the managing member of the Sponsor and as such has voting and investment discretion with respect to the Class A Common Stock held of record by the Sponsor and may be deemed to have shared beneficial ownership (along with EnTrust Global Group LLC, EnTrust Global LLC, GH EP Holdings LLC and Sponsor) of the Class A Common Stock held directly by the Sponsor. Gregg Hymowitz is the managing member of GH EP Holdings, LLC, which is the managing member of EnTrust Global LLC, which is the managing member of EnTrust Global Group LLC, which serves as the general partner of EnTrust Global Partners Offshore LP, and as a result, may be deemed to have shared beneficial ownership of the common stock held directly by the Sponsor. An affiliate of GMF Capital has an approximately 50% membership interest in the Sponsor. Percentage in row 13 represented by amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026, as well as the warrants to purchase 4,902,190 shares of Class A Common Stock and the warrants to purchase 2,268,100 shares of Class A Common Stock beneficially owned by the Sponsor. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons.

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

EnTrust Global Group LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 15,988,379.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 15,988,379.00

11

Aggregate amount beneficially owned by each reporting person

15,988,379.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

41.7 %

14

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person:

Amounts in rows 8, 10 and 11 consist of (i) 8,818,089 shares of Class A Common Stock held by Sponsor, (ii) the warrants held by Sponsor to purchase 4,902,190 shares of Class A Common Stock, and (iii) the warrants held by Sponsor to purchase 2,268,100 shares of Class A Common Stock. EnTrust Global Partners Offshore LP is the managing member of the Sponsor and as such has voting and investment discretion with respect to the Class A Common Stock held of record by the Sponsor and may be deemed to have shared beneficial ownership (along with EnTrust Global Group LLC, EnTrust Global LLC, GH EP Holdings LLC and Sponsor) of the Class A Common Stock held directly by the Sponsor. Gregg Hymowitz is the managing member of GH EP Holdings, LLC, which is the managing member of EnTrust Global LLC, which is the managing member of EnTrust Global Group LLC, which serves as the general partner of EnTrust Global Partners Offshore LP, and as a result, may be deemed to have shared beneficial ownership of the common stock held directly by the Sponsor. An affiliate of GMF Capital has an approximately 50% membership interest in the Sponsor. Percentage in row 13 represented by amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026, as well as the warrants to purchase 4,902,190 shares of Class A Common Stock and the warrants to purchase 2,268,100 shares of Class A Common Stock beneficially owned by the Sponsor. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons.

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

EnTrust Global LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 15,988,379.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 15,988,379.00

11

Aggregate amount beneficially owned by each reporting person

15,988,379.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

41.7 %

14

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person:

Amounts in rows 8, 10 and 11 consist of (i) 8,818,089 shares of Class A Common Stock held by Sponsor, (ii) the warrants held by Sponsor to purchase 4,902,190 shares of Class A Common Stock, and (iii) the warrants held by Sponsor to purchase 2,268,100 shares of Class A Common Stock. EnTrust Global Partners Offshore LP is the managing member of the Sponsor and as such has voting and investment discretion with respect to the Class A Common Stock held of record by the Sponsor and may be deemed to have shared beneficial ownership (along with EnTrust Global Group LLC, EnTrust Global LLC, GH EP Holdings LLC and Sponsor) of the Class A Common Stock held directly by the Sponsor. Gregg Hymowitz is the managing member of GH EP Holdings, LLC, which is the managing member of EnTrust Global LLC, which is the managing member of EnTrust Global Group LLC, which serves as the general partner of EnTrust Global Partners Offshore LP, and as a result, may be deemed to have shared beneficial ownership of the common stock held directly by the Sponsor. An affiliate of GMF Capital has an approximately 50% membership interest in the Sponsor. Percentage in row 13 represented by amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026, as well as the warrants to purchase 4,902,190 shares of Class A Common Stock and the warrants to purchase 2,268,100 shares of Class A Common Stock beneficially owned by the Sponsor. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons.

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

EnTrust Emerald (Cayman) LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 16,718,807.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 16,718,807.00

11

Aggregate amount beneficially owned by each reporting person

16,718,807.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

47.5 %

14

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person:

Amounts in rows 8, 10, and 11 consist of (i) 12,718,807 shares of Class A Common Stock held by EnTrust Emerald (Cayman) LP and (ii) the warrants held by EnTrust Emerald (Cayman) LP to purchase 4,000,000 shares of Class A Common Stock. Gregg Hymowitz serves as the Founder and Chief Executive Officer of EnTrust Global, an affiliate of which, EnTrust Global Partners LLC, serves as the general partner of EnTrust Emerald (Cayman) LP, and may be deemed to be the beneficial owner of such shares held by EnTrust Emerald (Cayman) LP. Percentage in row 13 represented by amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026, as well as the warrants to purchase 4,000,000 shares of Class A Common Stock beneficially owned by EnTrust Emerald (Cayman) LP. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons.

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

ETG Omni LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,808,904.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,808,904.00

11

Aggregate amount beneficially owned by each reporting person

2,808,904.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.0 %

14

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person:

Amounts in rows 8, 10 and 11 consist of 2,808,904 shares of Class A Common Stock held by ETG Omni LLC. Gregg Hymowitz serves as the Founder and Chief Executive Officer of EnTrust Global, an affiliate of which, EnTrust Global Partners LLC, serves as the managing member of ETG Omni LLC, and may be deemed to be the beneficial owner of such shares held by ETG Omni LLC. Percentage in row 13 represented by amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons.

SCHEDULE 13D

CUSIP No. 343928107

1

Name of reporting person

EnTrust Global Partners LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 19,527,711.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 19,527,711.00

11

Aggregate amount beneficially owned by each reporting person

19,527,711.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

55.5 %

14

Type of Reporting Person (See Instructions)

IA, OO

Comment for Type of Reporting Person:

Amounts in rows 8, 10, and 11 consist of the shares described above for EnTrust Emerald (Cayman) LP and ETG Omni LLC. Percentage in row 13 represented by the amount in row 11 is based on a denominator consisting of 31,184,738 shares of Class A Common Stock outstanding as of December 31, 2025 as reported by the Issuer in the Prospectus Supplement to that certain Prospectus dated June 30, 2025, as filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5) on January 9, 2026, as well as the warrants to purchase 4,000,000 shares of Class A Common Stock beneficially owned by EnTrust Emerald (Cayman) LP. Due to the calculation methodology under Rule 13d-3 of the Exchange Act, the denominator does not include the 59,930,000 LGM Common Units (which are convertible for shares of Class A Common Stock), nor the public warrants to purchase Class A Common Stock, other than the public warrants held by the Reporting Persons. Explanatory Note This Amendment No. 4 ("Amendment No. 4") amends and supplements the Schedule 13D filed with the U.S. Securities and Exchange Commission on July 30, 2025, as amended by Amendment No. 1 to the Schedule 13D (Amendment No. 1), filed on August 12, 2024, as amended by Amendment No. 2 to the Schedule 13D ("Amendment No. 2"), filed on March 25, 2025, as amended by Amendment No. 3 to the Schedule 13D ("Amendment No. 3"), filed on July 30, 2025 (together with Amendment No.1, Amendment No.2, and this Amendment No.4, the "Schedule 13D"). This amendment is filed by the Reporting Persons in accordance with Rule 13d-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and refers only to information that has materially changed since the filing of the Schedule 13D. The items identified below, or the particular paragraphs of such items which are identified below, are amended as set forth below. Unless otherwise indicated, all capitalized terms used and not defined herein have the respective meanings assigned to them in the Schedule.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, $0.0001 par value
(b)	Name of Issuer: flyExclusive, Inc. (f/k/a EG Acquisition Corp.)
(c)	Address of Issuer's Principal Executive Offices: 2860 Jetport Road, Kinston, NORTH CAROLINA , 28504.
Item 5.	Interest in Securities of the Issuer
(a)	Gregg Hymowitz beneficially owns 35,516,090 shares of Class A Common Stock (as determined and described above), which represent 83.9% of the outstanding shares of Class A Common Stock of the Issuer (as determined and described above). Sponsor, EnTrust Global Partners Offshore LP, EnTrust Global Group LLC, EnTrust Global LLC and GH EP Holdings LLC beneficially own 15,988,379 shares of Class A Common Stock (as determined and described above), which represent 41.7% of the outstanding shares of Class A Common Stock of the Issuer (as determined and described above). EnTrust Emerald (Cayman) LP beneficially owns 16,718,807 shares of Class A Common Stock (as determined and described above), which represent 47.5% of the outstanding shares of Class A Common Stock of the Issuer (as determined and described above). ETG Omni LLC beneficially owns 2,808,904 shares of Class A Common Stock (as determined and described above), which represent 9.0% of the outstanding shares of Class A Common Stock of the Issuer (as determined and described above). EnTrust Global Partners LLC beneficially owns 19,527,711 shares of Class A Common Stock (as determined and described above), which represent 55.5% of the outstanding shares of Class A Common Stock of the Issuer (as determined and described above).
(b)	Gregg Hymowitz has shared power to vote and shared power to dispose of 35,516,090 shares of Class A Common Stock. Sponsor, EnTrust Global Partners Offshore LP, EnTrust Global Group LLC, EnTrust Global LLC and GH EP Holdings LLC have shared power to vote and shared power to dispose of 15,988,379 shares of Class A Common Stock. EnTrust Emerald (Cayman) LP has shared power to vote and shared power to dispose of 16,718,807 shares of Class A Common Stock. ETG Omni LLC has shared power to vote and shared power to dispose of 2,808,904 shares of Class A Common Stock. EnTrust Global Partners LLC has shared power to vote and shared power to dispose of 19,527,711 shares of Class A Common Stock.
(c)	No transactions in the Issuer's capital stock were effected during the past 60 days by the Reporting Persons except as set forth in Item 3 above and Item 6 below.
(d)	Not applicable
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 is amended to add the following: EnTrust Emerald (Cayman) LP and Sponsor held 20,408 and 9,329 shares of Series B Convertible Preferred Stock, par value $0.0001 per share, which had a stated value of $1,000. On December 31, 2025, the principal and accrued but unpaid interest and dividends automatically converted into shares of the Issuer's Class A Common Stock, at a conversion rate of $3.443441 per share (the "Conversion"). As a result of the Conversion, Entrust Emerald (Cayman) LP and Sponsor received 7,200,999 and 3,193,089 shares of the Issuer's Class A Common Stock on January 7, 2026.

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.

Gregg S. Hymowitz

Signature:	/s/ Gregg S. Hymowitz
Name/Title:	Gregg S. Hymowitz
Date:	01/28/2026

EG Sponsor LLC

Signature:	/s/ Gregg S. Hymowitz
Name/Title:	Gregg S. Hymowitz, Authorized Signatory
Date:	01/28/2026

EnTrust Global Partners Offshore LP

Signature:	/s/ Gregg S. Hymowitz
Name/Title:	Gregg S. Hymowitz, Authorized Signatory
Date:	01/28/2026

GH EP Holdings LLC

Signature:	By Gregg S. Hymowitz, its managing member, /s/ Gregg S. Hymowitz
Name/Title:	Gregg S. Hymowitz
Date:	01/28/2026

EnTrust Global Group LLC

Signature:	By: EnTrust Global LLC, its managing member, by GH EP Holdings LLC, its managing member, by Gregg S. Hymowitz, its managing member, /s/ Gregg Hymowitz
Name/Title:	Gregg S. Hymowitz
Date:	01/28/2026

EnTrust Global LLC

Signature:	By: GH EP Holdings LLC, its managing member, by Gregg S. Hymowitz, its managing member, /s/ Gregg S. Hymowitz
Name/Title:	Gregg S. Hymowitz
Date:	01/28/2026

EnTrust Emerald (Cayman) LP

Signature:	By: EnTrust Global Partners LLC, as general partner, /s/ Gregg S. Hymowitz
Name/Title:	Gregg S. Hymowitz, Authorized Signatory
Date:	01/28/2026

ETG Omni LLC

Signature:	By: EnTrust Global Partners LLC, as manager, /s/ Gregg S. Hymowitz
Name/Title:	Gregg S. Hymowitz, Authorized Signatory
Date:	01/28/2026

EnTrust Global Partners LLC

Signature:	/s/ Gregg S. Hymowitz
Name/Title:	Gregg S. Hymowitz, Authorized Signatory
Date:	01/28/2026

FAQ

What ownership stake in flyExclusive (FLYX) does Gregg S. Hymowitz report?

Gregg S. Hymowitz reports beneficial ownership of 35,516,090 shares of flyExclusive Class A Common Stock, representing 83.9% of the outstanding Class A shares. This percentage is calculated using 31,184,738 Class A shares outstanding plus specified warrants, under Rule 13d-3 methodology.

How much flyExclusive (FLYX) stock do EnTrust-related entities beneficially own?

EG Sponsor LLC, EnTrust Global Partners Offshore LP, EnTrust Global Group LLC, EnTrust Global LLC and GH EP Holdings LLC each report beneficial ownership of 15,988,379 Class A shares, or 41.7% of the class. EnTrust Emerald (Cayman) LP reports 16,718,807 shares (47.5%), and EnTrust Global Partners LLC reports 19,527,711 shares (55.5%).

What happened to flyExclusive’s Series B Convertible Preferred Stock held by EnTrust entities?

EnTrust Emerald (Cayman) LP and EG Sponsor LLC held 20,408 and 9,329 Series B Convertible Preferred shares, each with $1,000 stated value. On December 31, 2025, principal plus accrued interest and dividends automatically converted into Class A Common Stock at $3.443441 per share, increasing their common share holdings.

How many flyExclusive (FLYX) Class A shares were issued in the conversion?

Following the automatic conversion effective December 31, 2025, EnTrust Emerald (Cayman) LP received 7,200,999 Class A Common shares and EG Sponsor LLC received 3,193,089 Class A Common shares on January 7, 2026. These new shares are included in their updated beneficial ownership calculations.

How is the ownership percentage for flyExclusive (FLYX) calculated in this filing?

Percentages use a denominator of 31,184,738 Class A shares outstanding as of December 31, 2025, as reported in a Prospectus Supplement. The calculation also includes specified warrants held by the reporting persons but excludes 59,930,000 convertible Common Units and most public warrants under Rule 13d-3.

Did the reporting persons trade flyExclusive (FLYX) stock in the last 60 days?

The filing states that no transactions in flyExclusive capital stock were effected during the past 60 days by the reporting persons, other than those described in Item 3 and Item 6, which primarily relate to the automatic conversion of Series B Convertible Preferred Stock into Class A Common Stock.