Form 4: Director's Holdings Update Post Republic Airways Merger

Spyridon Skiados reports changes in beneficial ownership of Republic Airways Holdings Inc. common stock following a merger and stock split.

Summary

• Director Spyridon Skiados reported changes in beneficial ownership of Republic Airways Holdings Inc. common stock.
• The changes occurred on November 25, 2025, following the completion of a stock-for-stock merger.
• Republic Airways Holdings Inc. merged with and into Mesa Air Group, Inc., with the combined entity retaining the Republic Airways Holdings Inc. name and trading under the new ticker symbol RJET.
• Prior to the merger, Mesa Air Group, Inc. effected a 15-to-1 stock split of its common stock.
• Outstanding restricted stock units (RSUs) and restricted stock awards (RSAs) accelerated in full and converted into shares of the Issuer's common stock.
• Skiados acquired 1,483 shares of common stock at a price of $0.00, likely due to the conversion of RSAs.
• Following these transactions, Skiados beneficially owns 9,762 shares of common stock, which includes 1,483 RSAs previously reported and 8,279 shares of common stock.

Sentiment

Score: 5

Explanation: Neutral. This is a routine insider transaction report following a corporate event (merger and stock split). It doesn't inherently convey positive or negative sentiment about the company's performance, but rather a factual change in ownership structure.

Positives

• Completion of the stock-for-stock merger between Republic Airways Holdings Inc. and Mesa Air Group, Inc. indicates a strategic consolidation.
• Restricted stock units and awards held by insiders, such as Spyridon Skiados, accelerated and converted into common stock, providing liquidity or direct equity ownership.

Future Outlook

No explicit forward-looking statements or guidance are provided in this Form 4, as it primarily reports past corporate actions and insider ownership changes.

Industry Context

The merger of Mesa Air Group into Republic Airways Holdings Inc. signifies a consolidation within the regional airline sector, potentially aimed at achieving greater operational scale, efficiencies, or market positioning. The new ticker symbol RJET further emphasizes the combined entity's focus on regional jet operations.

Corporate Governance

Stakeholder Impact

• Shareholders: Existing shareholders of Mesa Air Group, Inc. were impacted by the 15-to-1 stock split and the merger, resulting in their shares becoming shares of the new Republic Airways Holdings Inc. under ticker RJET.
• Employees/Directors: Those holding Restricted Stock Units (RSUs) and Restricted Stock Awards (RSAs) saw their awards accelerate and convert into common stock due to the merger.

Key Dates

Keywords

Republic Airways Holdings, Mesa Air Group, RJET, MESA, Merger, Stock Split, Form 4, Insider Ownership, Beneficial Ownership, Restricted Stock Awards, Corporate Action