Form 4: Spirit AeroSystems Exec's Shares Convert Post-Boeing Merger

Spirit AeroSystems SVP Justin Welner's equity holdings converted into Boeing shares and restricted stock units following the company's merger with The Boeing Company on December 8, 2025.

Summary

• Justin Welner, SVP, Chief Administrative & CCO of Spirit AeroSystems Holdings, Inc., reported changes in his beneficial ownership following the merger with The Boeing Company.
• On December 8, 2025, each share of Spirit AeroSystems Class A Common Stock was automatically canceled and converted into the right to receive 0.1955 shares of Boeing common stock.
• Welner disposed of 31,585 shares of Class A Common Stock as a result of this conversion.
• His 30,642 Restricted Stock Units (RSUs) were automatically converted into Boeing RSUs, with the number of Boeing shares subject to each RSU adjusted by the 0.1955 exchange ratio.
• The Boeing RSUs continue to be governed by the same terms and conditions, including vesting, as the original Spirit AeroSystems RSUs.

Sentiment

Score: 7

Explanation: The filing reports the expected completion of a pre-announced merger and the subsequent conversion of equity holdings, which is a neutral to positive event confirming a strategic transaction and continuity for employee equity.

Positives

• The successful completion of the merger between Spirit AeroSystems and The Boeing Company, as previously agreed.
• Continuity for employee equity, as Restricted Stock Units were converted into Boeing RSUs, maintaining their original vesting terms and conditions.

Future Outlook

Restricted Stock Units held by the reporting person have been converted into Boeing RSUs and will continue to vest under the same terms and conditions as originally applicable, denominated in Boeing common stock.

Industry Context

This filing reflects the completion of a significant consolidation event in the aerospace manufacturing sector, where a major aircraft manufacturer, Boeing, has acquired a key supplier, Spirit AeroSystems. Such mergers often aim to streamline supply chains, enhance operational efficiencies, and integrate critical manufacturing capabilities.

Stakeholder Impact

• Shareholders of Spirit AeroSystems received shares of The Boeing Company common stock, effectively becoming Boeing shareholders.
• Employees holding Spirit AeroSystems Restricted Stock Units now hold equivalent Boeing Restricted Stock Units, maintaining their equity incentives within the combined entity.

Next Steps

• The converted Boeing Restricted Stock Units will continue to vest according to their original schedules and terms.

Key Dates

Keywords

Spirit AeroSystems, Boeing, Merger, Form 4, Insider Transaction, Stock Conversion, Restricted Stock Units, Equity Compensation