Madison Air Solutions Corp Chief Financial Officer Foley John Joseph V reported his ownership of the company’s Class A common stock. He holds 1,662,929 shares directly following this entry, including 552,752 equity appreciation rights units, each representing the right to receive one share upon vesting, subject to continued service and giving effect to the closing of the company’s initial public offering.
Madison Air Solutions Corp Chief Executive Officer Jill S. Wyant filed an initial ownership report showing direct holdings of 3,733,549 shares of Class A common stock. This total includes 2,609,838 equity appreciation rights units, each representing the right to receive one Class A share upon vesting, subject to her continued service and giving effect to the closing of the company’s initial public offering. The filing reflects ownership rather than any recent share purchases or sales.
Madison Air Solutions Corp reported initial insider ownership on a Form 3. Madison Industries Holdings LLC holds 324,379,859 shares of Class B common stock, which are indirectly attributed to director and ten-percent owner Larry Gies.
Each share of Class B common stock is convertible into one share of Class A common stock at any time at the holder’s election, or automatically under certain circumstances, and has no expiration date. The shares are held directly by Madison Industries Holdings LLC, where Mr. Gies is the sole manager. He may be deemed to beneficially own these shares but disclaims beneficial ownership except to the extent of his pecuniary interest.