CEO Dirk Wallinger receives 569,920 RSUs at Yellowstone Midco (YSS)

Rhea-AI Filing Summary

Yellowstone Midco Holdings II, LLC Chief Executive Officer and director Dirk Wallinger reported an equity award in the company’s common stock. On January 30, 2026, he was granted 569,920 restricted stock units at a price of $0 per share, which vest over three years.

After this grant, Wallinger beneficially owns 10,141,966 shares of common stock directly. In addition, common stock is held indirectly, including 227,441 shares by Ghostrider 117 LLC and 1,369,106 shares by DHW Irrevocable Trust.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Wallinger Dirk

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	569,920	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 10,141,966 shares (Direct); Common Stock — 227,441 shares (Indirect, By Ghostrider 117 LLC)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Wallinger Dirk

(Last) (First) (Middle)

C/O YORK SPACE SYSTEMS INC.

6060 S WILLOW DRIVE

(Street)

GREENWOOD VILLAGE CO 80111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Yellowstone Midco Holdings II, LLC [ YSS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		A		569,920(1)	A	$0	10,141,966	D
Common Stock								227,441	I	By Ghostrider 117 LLC
Common Stock								1,369,106	I	By DHW Irrevocable Trust

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 restricted stock units which vest over three years.

	/s/ Monica Palko, by Power of Attorney	02/03/2026
	** 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.

FAQ

What insider transaction did YSS CEO Dirk Wallinger report on this Form 4?

Dirk Wallinger reported receiving 569,920 restricted stock units of Yellowstone Midco Holdings II, LLC common stock. The units were awarded on January 30, 2026 at a price of $0 per share and are structured to vest over a three-year period.

How many Yellowstone Midco (YSS) shares does Dirk Wallinger own after this grant?

After the reported grant, Dirk Wallinger beneficially owns 10,141,966 shares of Yellowstone Midco common stock directly. Additional common shares are held indirectly through entities associated with him, including Ghostrider 117 LLC and the DHW Irrevocable Trust.

How do the 569,920 YSS restricted stock units for Dirk Wallinger vest?

The 569,920 restricted stock units granted to Dirk Wallinger vest over three years. This means the award becomes fully earned in stages across that three-year schedule, rather than all at once on the grant date.

What indirect holdings in YSS are reported for Dirk Wallinger?

Indirect holdings reported include 227,441 shares of Yellowstone Midco common stock held by Ghostrider 117 LLC and 1,369,106 shares held by the DHW Irrevocable Trust. These positions are listed as indirect beneficial ownership interests on the Form 4.

What role does Dirk Wallinger hold at Yellowstone Midco Holdings II, LLC (YSS)?

Dirk Wallinger is reported as both a director and the Chief Executive Officer of Yellowstone Midco Holdings II, LLC. These positions make him a senior insider whose equity awards and holdings must be disclosed under insider reporting rules.

Was there any cash paid for the 569,920 YSS restricted stock units?

The Form 4 shows a price per share of $0 for the 569,920 restricted stock units. This indicates the units were granted as equity compensation rather than purchased for cash in an open-market or privately negotiated transaction.