Karman Holdings (KRMN) CFO reports insider sale of 115,000 shares

Rhea-AI Filing Summary

Karman Holdings Inc. (KRMN) Chief Financial Officer Mike Willis reported an open-market sale of company stock. On 11/17/2025, an indirectly held position sold 115,000 shares of common stock at a weighted average price of $58.6338 per share, with individual trade prices ranging from $57.57 to $60.25. After this transaction, Willis beneficially owns 859,709 shares, held indirectly through the Sundowner Trust, for which he is the primary beneficiary. The filing is made by one reporting person and covers only non-derivative securities; no derivative transactions are reported.

Insider Trade Summary

Net Seller: 115,000 shares ($6,742,887)

Net Sell 1 txn

Insider Willis Michael

Role Chief Financial Officer

Sold 115,000 shs ($6.74M)

Type	Security	Shares	Price	Value
Sale	Common Stock	115,000	$58.6338	$6.74M

Holdings After Transaction: Common Stock — 859,709 shares (Indirect, See Footnote)

Footnotes (1)

1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.57 to $60.25. 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. Shares are directly held by Sundowner Trust u/t/a dated November 11, 2024, of which Mike Willis is the primary beneficiary.

Form 4 Insider Transactions: What Each Field Means →

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^*

Willis Michael

(Last) (First) (Middle)

C/O KARMAN HOLDINGS INC.

5351 ARGOSY AVENUE

(Street)

HUNTINGTON BEACH CA 92649

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Karman Holdings Inc. [ KRMN ]

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)
11/17/2025

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	11/17/2025		S		115,000	D	$58.6338(1)	859,709	I	See Footnote(2)

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. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.57 to $60.25. 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.

2. Shares are directly held by Sundowner Trust u/t/a dated November 11, 2024, of which Mike Willis is the primary beneficiary.

	By: /s/ Mike Willis	11/18/2025
	** 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.

FAQ

What insider transaction did Karman Holdings (KRMN) disclose?

Karman Holdings (KRMN) disclosed that its Chief Financial Officer, Mike Willis, reported an open-market sale of 115,000 shares of common stock on 11/17/2025.

At what price did the Karman Holdings (KRMN) CFO sell shares?

The 115,000 KRMN shares were sold at a weighted average price of $58.6338 per share, with individual trades executed between $57.57 and $60.25.

How many Karman Holdings (KRMN) shares does the CFO own after the sale?

Following the reported sale, Chief Financial Officer Mike Willis beneficially owns 859,709 shares of Karman Holdings common stock, held indirectly.

How are the Karman Holdings (KRMN) shares held by the reporting person structured?

The shares are held indirectly by the Sundowner Trust u/t/a dated November 11, 2024, for which Mike Willis is the primary beneficiary.

What type of SEC form was filed for this KRMN insider transaction?

The transaction was reported on Form 4, which is used to disclose changes in the beneficial ownership of equity securities by company insiders such as officers, directors, and 10% owners.

Did the Karman Holdings (KRMN) Form 4 report any derivative securities activity?

No. The filing shows activity only in non-derivative common stock and indicates no acquisitions or dispositions of options, warrants, or other derivative securities.