Mesa Air Group SEC Filings

On June 20, 2025, Director Mitchell I. Gordon filed a Form 4 with the SEC disclosing the vesting of a restricted stock award in Mesa Air Group, Inc. (MESA). The award, originally granted on June 18, 2024 under the company’s 2018 Equity Incentive Plan, delivered 31,377 common shares on June 18, 2025 (Transaction Code M, exercise price $0). After the transaction, Gordon’s direct ownership rose to 143,280 shares. No open-market purchases, sales, or 10b5-1 trading plans were reported, making this a routine equity-compensation event rather than an active investment decision.

On June 18, 2025, Mesa Air Group (MESA) director Ellen N. Artist acquired 31,377 common shares when a restricted stock award granted on June 18, 2024 under the 2018 Equity Incentive Plan fully vested. The transaction was reported under code M, indicating a conversion of derivative securities and carried an exercise price of $0, so no cash changed hands. Following the vesting, Artist’s direct beneficial ownership rose to 139,480 shares. No shares were sold, and no derivative securities remain from this award.

Form 4 overview: Director Spyridon Skiados of Mesa Air Group, Inc. (Ticker: MESA) reported a single transaction dated 18 June 2025.

• Security involved: 31,377 shares of common stock.
• Transaction code “M” indicates the conversion of a derivative security—specifically the vesting of a restricted-stock award granted on 18 June 2024 under the 2018 Equity Incentive Plan.
• Price: $0, reflecting a non-cash equity award.
• Post-transaction ownership: Skiados now directly holds 124,180 shares of MESA common stock; all related derivative units have been extinguished (0 remaining).

The filing reflects routine incentive-plan vesting rather than an open-market purchase or sale. No other equity classes or derivative instruments were reported, and there is no indication of a Rule 10b5-1 trading plan.

Form 4 filing for Mesa Air Group, Inc. (MESA) discloses that director Harvey W. Schiller acquired 31,377 common shares on 18 Jun 2025. The shares came from the automatic vesting of a restricted stock award granted on 18 Jun 2024 under the company’s 2018 Equity Incentive Plan. No cash was paid (exercise price $0). Following the transaction, Schiller’s direct beneficial ownership rose to 125,254 common shares.

The transaction is coded “M,” indicating a conversion of derivative securities (restricted stock) into common shares rather than an open-market purchase or sale. The filing is made solely by the reporting person and contains no indication of any concurrent disposition. No other derivative securities remain outstanding for Schiller post-vesting.

Because the event represents routine equity compensation vesting for a single director, it is unlikely to exert a material impact on Mesa Air Group’s share price or capital structure. Nevertheless, it modestly increases director alignment through larger direct ownership.

Bank of Montreal (BMO) is offering Senior Medium-Term Notes, Series K – Autocallable Barrier Notes with Contingent Coupons, due October 2, 2026. The notes are linked to the worst performer among the S&P 500, NASDAQ-100 and Russell 2000 indices (the “Reference Assets”).

Key commercial terms

• Issue size: US$[ ] in $1,000 denominations; settlement July 2, 2025; maturity October 2, 2026.
• Monthly contingent coupon: 0.9917% (≈ 11.90% p.a.) paid only if the closing level of each Reference Asset on the applicable Observation Date is ≥ 70% of its Initial Level (“Coupon Barrier”).
• Automatic early redemption: Beginning December 29, 2025, if all Reference Assets close ≥ 100% of Initial Level on any Observation Date, investors receive principal plus the due coupon and the note terminates.
• No principal protection: If not called and a Trigger Event occurs (any Reference Asset closes < 65% of Initial Level on any day through maturity) and the Final Level of the worst performer is below the Initial Level, principal is reduced 1% for every 1% decline in that asset; loss can reach 100%.
• Estimated initial value: $987.70 per $1,000 (subject to change, but not below $940); price to public 100%; up to 0.25% selling commission.
• Issuer/guarantor credit: Direct, senior, unsecured obligations of Bank of Montreal; payments subject to BMO credit risk; notes are not deposit-insured.
• No listing; secondary market, if any, solely through BMO Capital Markets Corp. (BMOCM).

Investor profile: Investors seeking high conditional income, willing to forgo equity upside, accept early redemption, and bear downside risk linked to the weakest of three major U.S. equity indices and to BMO’s credit. The structure embeds significant market, credit, liquidity, and tax uncertainties outlined in the extensive risk disclosures.

Mesa Air Group (MESA) – Form 4 insider filing: Chief Executive Officer Jonathan G. Ornstein reported the vesting and conversion of 88,138 restricted shares on 18-Jun-2025 (transaction code M). The shares were issued at $0 cost under the company’s 2018 Equity Incentive Plan, increasing his directly held common-stock position to 1,010,014 shares. In addition, he still holds 387,753 unvested/derivative shares linked to various restricted-stock awards.

The original grant, made 18-Jun-2024, totals 264,412 shares and vests in three equal tranches. Following the 2025 vest, two further tranches of 88,137 shares are scheduled for 18-Jun-2026 and 18-Jun-2027. The filing notes that vesting may accelerate upon a change-of-control event, including the company’s pending merger with Republic Airways Holding Inc.

No open-market purchase occurred; therefore, immediate cash outflow for the executive is zero, while share count dilution is modest relative to Mesa’s public float. The report signals continued equity-based compensation and aligns the CEO’s financial incentives with shareholder value, but also highlights potential accelerated dilution and compensation expense if the merger closes before the normal vesting dates.

Form 4 filing overview: Mesa Air Group (ticker MESA) reports that President & Chief Financial Officer Michael Lotz acquired 69,064 common shares on 18 June 2025. The transaction is coded “M,” indicating the conversion of a derivative security—specifically the first tranche of a restricted-stock award granted on 18 June 2024 under the company’s 2018 Equity Incentive Plan.

Resulting ownership: Following the conversion, Lotz now directly owns 578,134 common shares and continues to hold 303,784 restricted-stock units (RSUs) that remain un-converted.

Award structure & future vesting: • Total original RSU grant: 207,191 shares. • Tranche schedule: 69,063 shares vest on 18 June 2026 and 69,064 on 18 June 2027. • The plan allows accelerated vesting upon a change of control, including the pending merger with Republic Airways Holding Inc.

Investor takeaways:

• The acquisition adds roughly 13% to Lotz’s previously reported direct share count, marginally increasing insider ownership.
• Because the shares were delivered at a $0 exercise price, the transaction does not represent an open-market cash purchase; its signalling value is therefore limited.
• The change-of-control clause confirms that, if the Republic Airways deal closes before 2027, remaining tranches could vest sooner, potentially increasing insider liquidity.

Form 4 filing summary – Mesa Air Group, Inc. (MESA)

Executive Vice President, General Counsel and Secretary Brian S. Gillman reported the vesting and automatic conversion of 23,504 restricted stock units (RSUs) into common shares on 18 June 2025 (Transaction Code M). The RSUs carried a $0 exercise price and stem from a 70,510-share award granted on 18 June 2024 under the company’s 2018 Equity Incentive Plan.

• Post-transaction ownership: 155,530 common shares held directly.
• Remaining unvested derivative securities: 102,998 RSUs.
• Future vesting schedule: two equal tranches of 23,503 shares on 18 June 2026 and 18 June 2027, respectively.
• Acceleration clause: Vesting may accelerate upon a change-of-control event, specifically the pending merger with Republic Airways Holding Inc. if consummated before scheduled vesting.

No open-market purchase or sale occurred; the transaction reflects routine equity compensation vesting. The filing offers a small signal of insider equity alignment and highlights the potential timing implication of the announced merger.