Form 4: BigBear.ai Holdings: BBAI Ultimate Holdings, LLC Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
BBAI Ultimate Holdings, LLC, along with affiliated entities and individuals, reported the acquisition of 175,676 restricted stock units (RSUs) of BigBear.ai Holdings, Inc. on September 4, 2024.
Summary
- BBAI Ultimate Holdings, LLC, along with several affiliated entities including AE Industrial Partners funds and related individuals, filed a Form 4 with the SEC.
- The filing reports the acquisition of 175,676 restricted stock units (RSUs) by Kirk Michael Konert and Jeffrey Hart on September 4, 2024, in their capacity as BigBear.ai Holdings, Inc. board members.
- These RSUs were granted on September 4, 2024, vest on September 5, 2025, and will be settled within sixty days of the vesting date.
- Each RSU represents the right to receive one share of BigBear.ai's common stock, contingent upon continued service through the vesting date.
- The RSUs will be assigned to AE Industrial Partners, LP, with Konert and Hart holding the securities for their benefit prior to vesting and assignment.
- BBAI Ultimate Holdings, LLC indirectly holds 144,286,114 shares of BigBear.ai common stock.
- Voting and dispositive power over these shares is exercised by Michael R. Greene and David H. Rowe of AeroEquity GP, LLC, the general partner of AE Industrial Partners Fund II GP, LP.
- The filing includes disclaimers of beneficial ownership by the reporting entities and individuals, except to the extent of their pecuniary interest.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the document is a standard SEC filing reporting a routine transaction. The RSU grants are a positive sign for aligning management interests, but the filing itself doesn't indicate a significant shift in the company's outlook.
Positives
- The grant of RSUs to board members could be seen as an incentive to align their interests with the long-term success of the company.
Future Outlook
The RSUs vest on September 5, 2025, and will be settled within sixty days of the vesting date, contingent upon continued service.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Comparison to Industry Standards
- The reporting of RSU grants is a common practice among publicly traded companies to incentivize and retain key personnel, aligning their interests with shareholder value.
- Similar to other companies with significant private equity ownership, AE Industrial Partners' influence is reflected in the board representation and shareholding structure of BigBear.ai.
Stakeholder Impact
- The RSU grants may have a slightly positive impact on shareholder sentiment as they align the interests of board members with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 09/04/2024 | Date of transaction: Grant of 175,676 restricted stock units (RSUs). |
| 09/04/2024 | Date of transaction: RSUs were granted. |
| 09/05/2025 | Vesting date of the 175,676 RSUs. |
| Within 60 days of 09/05/2025 | Settlement date of the 175,676 RSUs. |
| 09/06/2024 | Date of signature on the Form 4 filing. |
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