Form 4: Spirit AeroSystems Director Converts Shares in Boeing Merger

Spirit AeroSystems Director Ronald T. Kadish disposed of all his Class A Common Stock and restricted shares on December 8, 2025, as part of the merger with The Boeing Company.

Summary

• Ronald T. Kadish, a Director of Spirit AeroSystems Holdings, Inc. (SPR), reported changes in beneficial ownership of Class A Common Stock.
• On December 8, 2025, Kadish disposed of 25,563 shares indirectly held through the Ronald T. Kadish Trust & Cynthia S. Kadish Trust.
• Additionally, 18,454 shares directly held and 7,414 restricted shares (RSA) directly held by Kadish were also disposed of on the same date.
• These transactions occurred pursuant to the Agreement and Plan of Merger among Spirit AeroSystems, The Boeing Company (Boeing), and Sphere Acquisition Corp., dated June 30, 2024.
• As a result of the merger, each Spirit AeroSystems Class A Common Stock share was automatically canceled and converted into the right to receive 0.1955 shares of Boeing common stock.
• Each outstanding restricted share held by a non-employee director was similarly converted into Boeing common stock based on the same exchange ratio.
• Following these reported transactions, Kadish's beneficial ownership of Spirit AeroSystems Class A Common Stock is 0 shares, both directly and indirectly.

Sentiment

Score: 5

Explanation: The filing reports a mandatory conversion of shares due to a pre-announced merger, which is a neutral event in itself for the reporting person, reflecting the execution of a corporate strategy.

Positives

• The merger with The Boeing Company provides Spirit AeroSystems shareholders with shares in a larger, more diversified aerospace company.
• The fixed exchange ratio of 0.1955 shares of Boeing common stock per Spirit AeroSystems share provides clarity on the conversion terms for shareholders.

Negatives

• No specific negatives are highlighted in this Form 4, as it reports a mandatory transaction resulting from a pre-announced merger.

Future Outlook

The filing does not contain forward-looking statements or guidance, as it reports a completed transaction resulting from a merger.

Industry Context

This transaction reflects the consolidation within the aerospace manufacturing sector, specifically the integration of a key supplier (Spirit AeroSystems) into a major original equipment manufacturer (Boeing). Such mergers can streamline supply chains and enhance operational efficiencies for the acquiring entity.

Comparison to Industry Standards

• Mergers and acquisitions are common in the aerospace industry for strategic alignment and vertical integration.
• The conversion of shares at a fixed exchange ratio is a standard mechanism for such transactions, similar to other major aerospace consolidations like Raytheon Technologies' acquisition of Rockwell Collins, where shareholders received a mix of cash and stock.

Stakeholder Impact

• Shareholders of Spirit AeroSystems Holdings, Inc. received shares of The Boeing Company, effectively converting their investment into a stake in the acquiring entity.
• The merger impacts employees, customers, and suppliers of Spirit AeroSystems as they become part of The Boeing Company's operations.

Key Dates

Keywords

Spirit AeroSystems, Boeing, Merger, Form 4, Insider Transaction, Share Conversion, Ronald T. Kadish, SPR, Aerospace, Director, Beneficial Ownership