Frontier Group director exercises RSUs, gets new grant

Frontier Group Holdings director Josh T. Connor reported compensation-related equity activity.

Rhea-AI Filing Summary

Frontier Group Holdings director Josh T. Connor reported compensation-related equity activity. On May 14, 2026 he exercised 34,230 Restricted Stock Units (RSUs) into an equal number of Frontier common shares, increasing his direct common stock holdings to 175,735 shares.

He also received a new grant of 32,990 RSUs, each representing a contingent right to one share of common stock. These RSUs will vest in full on the earlier of May 14, 2027 or immediately before the next annual stockholder meeting after the grant date, subject to his continued service.

Insider Trade Summary

34,230 shares exercised/converted

Exercise 3 txns

Insider Connor Josh T.

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	34,230	$0.00	$0.00
Grant/Award	Restricted Stock Units	32,990	$0.00	$0.00
Exercise	Common Stock	34,230	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 32,990 contracts (Direct); Common Stock — 175,735 shares (Direct)

Footnotes (3)

1. F1. Each Restricted Stock Unit represents a contingent right to receive one share of Issuer Common Stock. The Restricted Stock Units have no expiration date.
2. F2. The RSUs have fully vested as of May 14, 2026.
3. F3. The RSUs will vest in full on the earlier of May 14, 2027 or immediately prior to the next annual meeting of stockholders after the grant date, subject to continued service of the Reporting Person through the vesting date.

Key Figures

RSUs exercised: 34,230 shares New RSU grant: 32,990 units Shares held after transactions: 175,735 shares +3 more

6 metrics

RSUs exercised 34,230 shares RSUs converted to Frontier common stock on May 14, 2026

New RSU grant 32,990 units New Restricted Stock Units granted on May 14, 2026

Shares held after transactions 175,735 shares Direct common stock holdings after RSU exercise

Underlying shares for new RSUs 32,990 shares Each RSU represents one common share upon vesting

Exercise transactions 1 transaction, 34,230 shares Derivative exercise/conversion coded as M on May 14, 2026

Acquisition transactions 3 transactions All coded as acquisitions; no sales reported

Key Terms

Restricted Stock Units, derivative security, contingent right, vest

4 terms

Restricted Stock Units financial

"The RSUs will vest in full on the earlier of May 14, 2027..."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

contingent right financial

"Each Restricted Stock Unit represents a contingent right to receive one share..."

vest financial

"The RSUs will vest in full on the earlier of May 14, 2027..."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Frontier Group Holdings (ULCC) director Josh T. Connor report in this Form 4?

He reported equity compensation activity, not an open-market trade. Connor exercised 34,230 previously granted RSUs into common stock and received a new grant of 32,990 RSUs tied to future vesting, all held directly as part of his director compensation.

How many Frontier Group (ULCC) shares does Josh T. Connor hold after the reported transactions?

He holds 175,735 shares of common stock directly after the transactions. That post-transaction figure reflects the exercise of 34,230 RSUs into common shares, in addition to a separate outstanding grant of 32,990 RSUs that will convert into shares only when they vest.

What Restricted Stock Units did Josh T. Connor exercise at Frontier Group (ULCC)?

Connor exercised 34,230 Restricted Stock Units into common stock. Each RSU represented a contingent right to one share, and these RSUs were fully vested as of May 14, 2026, allowing them to be converted into an equal number of Frontier Group common shares.

What new RSU grant did Josh T. Connor receive from Frontier Group (ULCC)?

He received a grant of 32,990 new Restricted Stock Units. Each RSU corresponds to one share of common stock and will vest in full on the earlier of May 14, 2027 or immediately before the next annual stockholder meeting after the grant date, subject to continued service.

When do Josh T. Connor’s new Frontier Group (ULCC) RSUs vest?

The new 32,990 RSUs vest on a single future date. They will vest in full on the earlier of May 14, 2027 or immediately prior to the next annual meeting of stockholders after the grant date, assuming Connor continues to serve through that vesting date.

Does this Frontier Group (ULCC) Form 4 show any stock sales by Josh T. Connor?

No stock sales are reported in this Form 4. The transactions reflect an exercise of previously granted RSUs into common stock and a separate grant of new RSUs. There are no open-market purchases or sales disclosed in this filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 04:02 PM EDT Learn about SEC filing dates

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).

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^*

Connor Josh T.

(Last) (First) (Middle)

C/O FRONTIER GROUP HOLDINGS, INC.

4545 AIRPORT WAY

(Street)

DENVER COLORADO 80239

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Frontier Group Holdings, Inc. [ ULCC ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/14/2026		M		34,230	A	(1)	175,735	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
Restricted Stock Units	(1)	05/14/2026		M			34,230	(2)	(1)	Common Stock	34,230	$0.00	0.00	D
Restricted Stock Units	(1)	05/14/2026		A		32,990		(3)	(1)	Common Stock	32,990	$0.00	32,990	D

Explanation of Responses:

1. Each Restricted Stock Unit represents a contingent right to receive one share of Issuer Common Stock. The Restricted Stock Units have no expiration date.

2. The RSUs have fully vested as of May 14, 2026.

3. The RSUs will vest in full on the earlier of May 14, 2027 or immediately prior to the next annual meeting of stockholders after the grant date, subject to continued service of the Reporting Person through the vesting date.

Remarks:

	/s/ Howard Diamond, as Attorney-in-fact for Josh T. Connor	05/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)