Global Crossing insider reports $0.729 derivative sales, holdings updated

Rhea-AI Filing Summary

Global Crossing Airlines Group Inc. reported insider activity by David Sandberg (indirect via Red Oak funds). On 11/07/2025, affiliated funds reported sales of common stock and derivative securities.

Non-derivative sales: 256,260 common shares at $0.711 (indirect by The Red Oak Fund, LP) and 141,760 common shares at $0.711 (indirect by The Red Oak Long Fund, L.P.). Following these, holdings were 6,060,759 and 3,166,888 common shares, respectively, held indirectly.

Derivative transactions: sales tied to Class A Non-Voting Common Stock of 709,494 and 392,486 (price $0.729), with derivative positions remaining at 2,924,645 and 1,510,688 (indirect). Warrant positions show post-transaction holdings of 3,980,985 and 2,056,328 (exercise price $1.50, expiring 04/29/2026). Class B non-voting positions of 10,868 and 5,632 are immediately exercisable and do not expire. Warrants include a 4.99% beneficial ownership cap.

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

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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^*

Red Oak Partners, LLC

(Last) (First) (Middle)

40 SE 5TH STREET

SUITE 502

(Street)

BOCA RATON FL 33432

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Global Crossing Airlines Group Inc. [ JETMF ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/07/2025

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	11/07/2025		S		256,260	D	$0.711	6,060,759	I	By The Red Oak Fund, LP directly(1)(3)
Common Stock	11/07/2025		S		141,760	D	$0.711	3,166,888	I	By The Red Oak Long Fund, L.P. directly(2)(3)

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
Class A Non-Voting Common Stock	$0	11/07/2025		S			709,494	(5)	(5)	Common Stock	709,494	$0.729	2,924,645	I	By The Red Oak Fund, LP directly(1)(3)
Class A Non-Voting Common Stock	$0	11/07/2025		S			392,486	(5)	(5)	Common Stock	392,486	$0.729	1,510,688	I	By The Red Oak Long Fund, L.P. directly(2)(3)
Warrants	$1.5	11/07/2025		S			965,754	(4)	04/29/2026	Common Stock	965,754	$0.01	3,980,985	I	By The Red Oak Fund, LP directly(1)(3)
Warrants	$1.5	11/07/2025		S			534,246	(4)	04/29/2026	Common Stock	534,246	$0.01	2,056,328	I	By The Red Oak Long Fund, L.P. directly(2)(3)
Class B Non-Voting Common Stock	$0							(5)	(5)	Common Stock	10,868		10,868	I	By The Red Oak Fund, LP directly(1)(3)
Class B Non-Voting Common Stock	$0							(5)	(5)	Common Stock	5,632		5,632	I	By The Red Oak Long Fund, L.P. directly(2)(3)

Explanation of Responses:

1. Red Oak Partners, LLC ("ROP") serves as the general partner of The Red Oak Fund, LP, a Delaware limited partnership (the "Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Fund's portfolio manager.

2. ROP serves as the general partner of The Red Oak Long Fund, LP, a Delaware limited partnership (the "Long Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Long Fund's portfolio manager.

3. Each Reporting Person disclaims beneficial ownership of all securities reported herein, except to the extent of their pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the shares for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.

4. Warrants may not be exercised to the extent that, after giving effect to such exercise, the Reporting Persons would beneficially own in excess of 4.99% of the issued and outstanding common stock after such exercise.

5. Immediately exercisable and do not expire.

	David Sandberg	11/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did JETBF's insider report on Nov. 7, 2025?

Indirect sales by affiliated funds: 256,260 and 141,760 common shares at $0.711, plus derivative sales tied to Class A Non‑Voting shares at $0.729.

Who is the reporting person in JETBF’s Form 4?

David Sandberg, filing as an indirect holder through The Red Oak Fund, LP and The Red Oak Long Fund, L.P.

How many JETBF common shares remained after the reported sales?

6,060,759 common shares (indirect via The Red Oak Fund, LP) and 3,166,888 (indirect via The Red Oak Long Fund, L.P.).

What were the reported sale prices for JETBF securities?

Common stock sales were at $0.711. Derivative sales tied to Class A Non‑Voting were at $0.729.

What derivative positions were disclosed for JETBF?

Remaining positions include 2,924,645 and 1,510,688 Class A Non‑Voting derivatives, and warrants of 3,980,985 and 2,056,328.

Are there ownership limits on JETBF warrants?

Yes. Warrants may not be exercised if doing so would exceed a 4.99% beneficial ownership threshold.