[Form 4] V2X, Inc. Insider Trading Activity

Rhea-AI Filing Summary

V2X, Inc. (VVX) reported a significant insider sale of common stock by a director-affiliated investment group. On 11/13/2025, the reporting persons sold 2,250,000 shares of V2X common stock at a price of $55 per share, as shown in Table I of the filing. After this transaction, they continued to beneficially own 5,750,001 shares held indirectly through Vertex Aerospace Holdco LLC and an additional 375,420 shares held indirectly through Lightship Capital LLC.

The filing explains that these entities are controlled through American Industrial Partners investment vehicles, and that any voting or dispositive decisions by AIPCF VI LLC require a unanimous vote of its managing members. Each managing member disclaims beneficial ownership of the reported shares beyond his pecuniary interest.

Insights

Equity Ownership and Governance Analyst

Large indirect shareholder and director reports sale of 2.25M VVX shares at $55, while retaining a sizable indirect equity position.

The filing shows a reporting group tied to American Industrial Partners entities, including **Vertex Aerospace Holdco LLC** and **Lightship Capital LLC**, disposing of 2,250,000 shares of **V2X, Inc.** common stock at $55 per share on 11/13/2025. The transaction is coded "S," indicating a sale of non-derivative securities, with no accompanying derivative transactions reported in Table II. Based on the disclosed price and volume, the gross sale value is about $123,750,000.

After this sale, the group reports continued indirect ownership of 5,750,001 shares through Vertex Holdco and 375,420 shares through Lightship. The filing explains a layered ownership structure where **AIPCF VI LLC** acts as general partner or managing member of the relevant funds and entities, and where voting and dispositive decisions require a unanimous vote of AIP GP’s managing members. Each managing member expressly disclaims beneficial ownership beyond any pecuniary interest, which limits personal attribution of these holdings.

This transaction reduces the group’s reported position but leaves a significant stake outstanding, so these entities remain important shareholders and a board-level presence continues, as the filer is identified as a director. The concentration of remaining ownership within fund-controlled vehicles, and the unanimity requirement for decisions noted in the footnotes, will matter most around future governance actions or additional share sales. The key date to keep in mind from this filing is the transaction date of 11/13/2025, which marks the point from which the updated ownership levels apply.

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).

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^*

American Industrial Partners Capital Fund VI, L.P.

(Last) (First) (Middle)

C/O AIP 450 LEXINGTON AVENUE, 40TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
V2X, Inc. [ VVX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/13/2025

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

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

	Form filed by One Reporting Person
X	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	11/13/2025		S		2,250,000	D	$55	5,750,001	I	See footnote(1)(3)(4)
Common Stock								375,420	I	See footnote(2)(3)(4)

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

1. Name and Address of Reporting Person^*

American Industrial Partners Capital Fund VI, L.P.

(Last) (First) (Middle)

C/O AIP 450 LEXINGTON AVENUE, 40TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

AIPCF VI Vertex Aerospace Funding LP

(Last) (First) (Middle)

C/O AIP 450 LEXINGTON AVENUE, 40TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Vertex Aerospace Holdco LLC

(Last) (First) (Middle)

C/O AIP 450 LEXINGTON AVENUE, 40TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

AIPCF VI, LLC

(Last) (First) (Middle)

C/O AIP 450 LEXINGTON AVENUE, 40TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Lightship Capital LLC

(Last) (First) (Middle)

C/O AIP 450 LEXINGTON AVENUE, 40TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. These shares are held directly by Vertex Aerospace Holdco LLC ("Vertex Holdco"). AIPCF VI LLC ("AIP GP") is the general partner of American Industrial Partners Capital Fund VI, L.P. ("AIP Fund VI") and the managing member of AIP Vertex GP LLC, which is the general partner of AIPCF VI Vertex Aerospace Funding LP ("Vertex Funding"). Vertex Holdco is a direct, wholly owned subsidiary of Vertex Funding.

2. These shares are held directly by Lightship Capital LLC ("Lightship"). AIP GP is the general partner of AIPCF VI Credit Opportunity Fund, LP, which is the sole member of Lightship.

3. Any action by AIP GP with respect to these shares, including voting and dispositive decisions, requires a unanimous vote of the managing members of AIP GP. Accordingly, each of the managing members of AIP GP may be deemed to share voting and dispositive power with respect to the shares held by the Reporting Persons.

4. (Continued from Footnote 3) Each of the managing members of AIP GP disclaims beneficial ownership of the shares of common stock held by the Reporting Persons, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

	/s/ Stan Edme, Managing Member and VP of AIPCF VI, LLC, general partner of American Industrial Partners Capital Fund VI, L.P.	11/17/2025
	/s/ Stan Edme, Managing Member and VP of AIP Vertex GP LLC, general partner AIPCF VI Vertex Aerospace Funding LP	11/17/2025
	/s/ Joel M. Rotroff, President of Vertex Aerospace Holdco LLC	11/17/2025
	/s/ Stan Edme, Managing Member and VP of AIPCF VI, LLC	11/17/2025
	/s/ Stan Edme, VP of Lightship Capital LLC	11/17/2025
	** Signature of Reporting Person	Date
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