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Innovative Solutions & Support, Inc. filings document the public-company record for a Nasdaq-listed avionics manufacturer operating as Innovative Aerosystems. Form 8-K reports furnish quarterly and annual operating results and record material events involving asset purchase and license agreements, acquired product-line rights, credit facilities and board composition.
Proxy and annual-meeting filings cover director elections, auditor ratification, executive compensation votes and shareholder voting results. The company's disclosures also identify its common stock listing, Pennsylvania incorporation, subsidiary borrowing arrangements and governance matters tied to its aerospace products, aftermarket services and acquired intellectual property.
INNOVATIVE SOLUTIONS & SUPPORT INC director Glen R. Bressner reported acquiring 6,300 shares of common stock on May 20, 2026 in a transaction classified as a grant, award, or other acquisition. The weighted average price was $15.9335 per share, based on multiple trades between $15.88 and $15.95.
Following this award, Bressner directly owns 153,655 common shares. The filing notes that detailed trade-by-trade pricing within the reported range is available upon request from the company, its security holders, or the SEC staff.
INNOVATIVE SOLUTIONS & SUPPORT INC Chief Executive Officer Shahram Askarpour reported a routine tax-related share disposition. On the vesting of restricted stock units, the company withheld 906 shares of common stock to cover his tax obligations.
The shares were valued at $16.26 per share for this purpose. After this withholding, Askarpour directly holds 495,035 shares of the company’s common stock, indicating that the tax-related disposition is small relative to his overall stake.
INNOVATIVE SOLUTIONS & SUPPORT INC Chief Financial Officer Jeffrey DiGiovanni reported a routine share disposition related to taxes rather than a market trade. On May 18, 2026, 474 shares of common stock were withheld by the company at $16.26 per share to satisfy his tax obligations when restricted stock units vested.
After this tax-withholding event, DiGiovanni directly holds 87,897 shares of common stock. This type of Form 4 entry reflects standard compensation and tax treatment and does not represent an open-market purchase or sale decision.
Innovative Solutions and Support, Inc. reported higher year-to-date sales with mixed profit trends while executing three aerospace acquisitions.
For the quarter ended March 31, 2026, total net sales were $22.4 million versus $21.9 million a year earlier, but quarterly net income declined to $3.4 million from $5.3 million as operating expenses rose. For the first six months, net sales increased to $44.2 million from $37.9 million and net income improved to $7.5 million from $6.1 million.
The company closed a $22.0 million Honeywell general aviation autopilot deal, an $8.0 million Honeywell generators agreement, and a $3.5 million Moog S-TEC 3100 autopilot acquisition, all treated as business combinations. These were funded mainly with a $32.0 million delayed draw term loan, lifting long‑term debt to $49.3 million and total assets to $138.3 million, while operating cash flow rose to $10.5 million for the six‑month period.
Innovative Aerosystems reported fiscal 2026 second quarter revenue of $22.4 million, up 2% year over year, as strong commercial and business aviation growth offset lower F-16 program sales. Non-F-16 revenue rose to $18.9 million, a 69% increase, while F-16 revenue declined by about $7 million versus an unusually strong prior-year quarter.
Gross margin was 51.1%, roughly in line with last year’s level. Net income fell to $3.4 million or $0.19 per diluted share, compared with $5.3 million or $0.30 a year earlier, reflecting higher R&D and acquisition-related costs. Adjusted net income was $4.8 million or $0.26 per share.
Adjusted EBITDA was $6.8 million, down from $7.7 million a year ago. New orders were about $24.7 million, and backlog reached approximately $87.0 million, up $7.4 million year over year. Free cash flow for the first six months of 2026 improved sharply to $7.7 million. The company ended March 31, 2026 with $55.1 million of total debt, net debt of $48.3 million, available liquidity of $49.8 million, and a net debt to trailing twelve-month Adjusted EBITDA ratio of 1.7x. Management highlighted three recent acquisitions expected to add about $10 million of annual revenue at roughly 50% blended gross margin and reiterated a long-term annual revenue target of $250 million.
INNOVATIVE SOLUTIONS & SUPPORT INC Chief Financial Officer Jeffrey DiGiovanni reported compensation-related equity grants. On February 17, 2026, he received 9,455 Restricted Stock Units valued at $19.83 per unit, bringing his direct common stock holdings to 92,205 shares after the grant.
He was also granted 21,307 Performance Stock Units, each representing a contingent right to one share of common stock that vests when the stock reaches specified prices per share, and 16,108 non-qualified stock options with a $19.83 exercise price. The RSUs and options vest one-quarter on the first anniversary of the grant date and one-twelfth on each quarterly anniversary thereafter, subject to continued employment. The filing amends a prior Form 4 to correct the originally understated number of performance stock units.
Askarpour Shahram reported acquisition or exercise transactions in this Form 4 filing.
INNOVATIVE SOLUTIONS & SUPPORT INC reported that CEO Shahram Askarpour received equity compensation awards on February 17, 2026. He was granted 20,171 Restricted Stock Units at a grant value of $19.83 per unit, 45,455 Performance Stock Units tied to future stock price targets, and 34,364 non-qualified stock options exercisable at $19.83 per share, expiring February 17, 2036. Following the RSU grant, he directly holds 502,442 shares of common stock. This filing amends an earlier report to correct the previously understated number of Performance Stock Units.
INNOVATIVE SOLUTIONS & SUPPORT INC director Denise L. Devine reported routine equity compensation changes. She received a grant of 5,618 Restricted Stock Units (RSUs) under the company’s 2019 Stock-Based Incentive Compensation Plan, each RSU representing one share of common stock and scheduled to vest on the first anniversary of the grant, subject to continued service.
On the same date, 5,403 unvested RSUs were forfeited back to the issuer, reflecting a disposition to the company rather than an open-market sale. After these transactions, Devine directly holds 15,004 RSUs.
Dean Garry C. reported acquisition or exercise transactions in this Form 4 filing.
INNOVATIVE SOLUTIONS & SUPPORT INC director Garry C. Dean received a compensation-related equity grant. On the reported date, he was awarded 5,618 Restricted Stock Units (RSUs) at no cash cost under the company’s 2019 Stock-Based Incentive Compensation Plan.
Each RSU represents one share of common stock and is scheduled to vest on the first anniversary of the grant date, subject to his continued service. Following this award, Dean directly holds 29,408 shares, highlighting ongoing alignment of his compensation with shareholder interests through stock-based incentives.
Silfen Richard A reported acquisition or exercise transactions in this Form 4 filing.
Innovative Solutions & Support Inc. director Richard A. Silfen received a grant of 5,618 Restricted Stock Units (RSUs). The award was made at a stated price of $0.00 per unit as part of his equity compensation.
The RSUs were granted under the company’s 2019 Stock-Based Incentive Compensation Plan. Each RSU represents the right to receive one share of common stock, and the units are scheduled to vest on the first anniversary of the grant date, subject to his continued service. Following this grant, Silfen directly holds 7,508 shares or share-equivalent RSUs.