[Form 4] Spirit Airlines, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 highlights: On 07/22/2025, Spirit Aviation Holdings, Inc. (ticker FLYY) reported that director Eugene I. Davis received 29,535 restricted stock units (RSUs) under transaction code “A”. The RSUs were granted at a price of $0 and will vest 100 % on the first anniversary of the grant, assuming Mr. Davis remains in service.

After the award, the director’s direct beneficial ownership stands at 29,535 common shares; no derivative securities were listed. The filing reflects routine equity-based compensation and does not involve open-market buying or selling, so immediate liquidity effects are minimal. Nevertheless, the transaction modestly increases insider alignment with shareholder interests.

Positive

• Director’s ownership rises by 29,535 shares, modestly enhancing management–shareholder alignment.

Negative

• None.

Insights

Securities Analyst

TL;DR – Routine RSU grant; neutral near-term impact.

This Form 4 records a standard director compensation grant—29,535 RSUs to Eugene I. Davis, vesting in one year. Because no cash was exchanged and the shares were not bought on the open market, the transaction does not signal incremental insider conviction about valuation. However, the added equity does marginally strengthen governance alignment. From a trading perspective, the filing is non-impactful; the awarded shares are subject to a vesting lock-up, limiting immediate dilution or float changes. Overall, investors should view the disclosure as administrative, with no material effect on Spirit Aviation Holdings’ fundamentals or capital structure.

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

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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).

1. Name and Address of Reporting Person^*

DAVIS EUGENE I

(Last) (First) (Middle)

C/O SPIRIT AVIATION HOLDINGS, INC.

1731 RADIANT DRIVE

(Street)

DANIA BEACH FL 33004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Spirit Aviation Holdings, Inc. [ FLYY ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2025

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	07/22/2025		A(1)		29,535	A	$0	29,535	D

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. Represents the grant of an award of restricted stock units, which are generally scheduled to vest 100% on the first anniversary of the grant date, subject to the Reporting Person's continued service through such date.

	/s/ Thomas Canfield, as Attorney-In-Fact for Eugene I. Davis	07/23/2025
	** 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 was disclosed for FLYY?

Director Eugene I. Davis was granted 29,535 restricted stock units on 07/22/2025.

Was there any cash paid for the shares?

No. The RSUs were granted at $0 cost as part of director compensation.

When will the RSUs vested to Eugene I. Davis become fully owned?

They are scheduled to vest 100 % one year after the 07/22/2025 grant date.

How many Spirit Aviation shares does the director own after the grant?

Mr. Davis now directly holds 29,535 common shares.

Does this Form 4 indicate buying or selling on the open market?

No. It reflects an equity award, not an open-market purchase or sale.