Form 4: BigBear.ai Holdings Sees Significant Share Sales by Pangiam Ultimate Holdings

Pangiam Ultimate Holdings, a 10% owner and director in BigBear.ai Holdings, executed substantial sales of common stock on March 3rd and 4th, 2025.

Summary

• Pangiam Ultimate Holdings, LLC, a significant shareholder and director in BigBear.ai Holdings, Inc. (BBAI), reported the sale of a large number of common stock shares.
• On March 3, 2025, 5,015,919 shares were sold at a weighted average price of $5.12.
• Following this transaction, Pangiam Ultimate Holdings indirectly beneficially owned 59,141,902 shares.
• On March 4, 2025, an additional 4,624,979 shares were sold at a weighted average price of $4.65.
• After the second sale, the indirect beneficial ownership stood at 54,516,923 shares.
• The sales were executed in multiple transactions with prices ranging from $4.69 to $5.64 on March 3rd and from $4.39 to $4.99 on March 4th.
• Other entities and individuals, including BBAI Ultimate Holdings, LLC, AE Industrial Partners Fund II GP, LP, and related parties, are also listed as reporting persons with director and 10% ownership relationships.
• These entities and individuals disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 3

Explanation: The sentiment is negative due to the large share sales by a major shareholder, which could indicate a lack of confidence in the company's future.

Negatives

• The significant sale of shares by a major shareholder could be perceived negatively by the market.

Risks

• Continued selling pressure from major shareholders could negatively impact the stock price.
• The complex ownership structure involving multiple entities and individuals could create uncertainty for investors.

Industry Context

Sales by significant shareholders are common, but the market reaction depends on the size of the sale, the reasons behind it, and the overall sentiment towards the company. It's important to monitor if other major shareholders follow suit, which could indicate a broader concern.

Comparison to Industry Standards

• It's difficult to compare this specific transaction to industry standards without knowing the reasons behind the sale.
• However, large sales by major shareholders are often scrutinized by the market and can lead to increased volatility.
• Comparable companies in the AI and data analytics space include Palantir (PLTR) and C3.ai (AI), but direct comparisons of shareholder transactions require understanding the specific circumstances of each company.

Stakeholder Impact

• Shareholders may experience a decrease in the stock price due to the selling pressure.
• Employees may be concerned about the long-term stability of the company.
• The company's reputation could be negatively affected.

Key Dates

Keywords

BigBear.ai, BBAI, Pangiam Ultimate Holdings, Share Sale, Beneficial Ownership, SEC Form 4, AE Industrial Partners