Franke boosts Frontier Group (ULCC) stake via RSU exercise and new grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Frontier Group Holdings director and 10% owner William A. Franke reported equity award activity and updated holdings. On May 14, 2026, he exercised 34,230 Restricted Stock Units for an equivalent number of shares of common stock at a price of $0.00 per share, leaving him with 67,362,528 shares of common stock held directly.
He also received a new grant of 32,990 Restricted Stock Units, each representing one share of common stock, with vesting tied to continued service and no expiration date. The filing additionally updates indirect ownership: 82,449 shares held by his spouse, 116,827 shares held by Indigo Partners LLC, and 31,975,180 shares held by Indigo Denver Management Company, LLC, which may be attributed to entities associated with him, subject to his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
34,230 shares exercised/converted
Mixed
6 txns
Insider
FRANKE WILLIAM A, Indigo Denver Management Company, LLC
Role
null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 34,230 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 32,990 | $0.00 | -- |
| Exercise | Common Stock | 34,230 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct, null);
Common Stock — 67,362,528 shares (Direct, null);
Common Stock — 31,975,180 shares (Indirect, By Indigo Denver Management Company, LLC)
Footnotes (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. These shares are held directly by Indigo Denver Management Company, LLC. William A. Franke is the sole member of Indigo Denver Management Company, LLC, and as such, may be deemed to have voting and dispositive power over these shares. Mr. Franke disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. The RSUs have fully vested as of May 14, 2026. 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
Direct common stock holdings: 67,362,528 shares
New RSU grant: 32,990 RSUs
+3 more
6 metrics
RSUs exercised
34,230 shares
Exercise of Restricted Stock Units into common stock on May 14, 2026
Direct common stock holdings
67,362,528 shares
Shares of Frontier Group common stock held directly after transactions
New RSU grant
32,990 RSUs
Restricted Stock Units granted, each for one share of common stock
Indigo Denver Mgmt holdings
31,975,180 shares
Common shares held by Indigo Denver Management Company, LLC
Indigo Partners LLC holdings
116,827 shares
Common shares reported as held by Indigo Partners LLC
Spouse holdings
82,449 shares
Common shares held indirectly through William A. Franke’s spouse
Key Terms
Restricted Stock Unit, derivative security, beneficial ownership, pecuniary interest, +1 more
5 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit represents a contingent right to receive one share of Issuer Common Stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
derivative security financial
"transaction_code_description: 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.
beneficial ownership financial
"Mr. Franke disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his pecuniary interest therein."
indirect ownership financial
"ownership_type: indirect; nature_of_ownership: By Spouse / By Indigo Partners LLC"
FAQ
What insider transactions did William A. Franke report at Frontier Group Holdings (ULCC)?
William A. Franke reported exercising 34,230 Restricted Stock Units into common shares and receiving a new grant of 32,990 Restricted Stock Units. The filing also updates his direct and indirect ownership positions across several related entities and his spouse’s holdings.
What new Restricted Stock Units were granted to William A. Franke at Frontier Group Holdings (ULCC)?
He received a grant of 32,990 Restricted Stock Units, each representing a contingent right to one share of common stock. These RSUs have no expiration date and vest in full on the earlier of May 14, 2027 or immediately before the next annual stockholder meeting, subject to continued service.
How are Indigo Denver Management Company, LLC holdings treated in this Frontier Group (ULCC) Form 4?
Indigo Denver Management Company, LLC directly holds 31,975,180 Frontier Group common shares. William A. Franke is its sole member and may be deemed to have voting and dispositive power, but he disclaims beneficial ownership except to the extent of his pecuniary interest in those shares.
What indirect Frontier Group Holdings (ULCC) stakes associated with William A. Franke are disclosed?
Indirect interests include 82,449 shares held by his spouse, 116,827 shares held by Indigo Partners LLC, and 31,975,180 shares held by Indigo Denver Management Company, LLC. These positions are reported as indirect ownership linked to entities or persons associated with Franke.