Form 4: Spirit AeroSystems SVP Equity Converts Post-Boeing Merger

Spirit AeroSystems SVP Sean Black's equity converted to Boeing shares and RSUs following the December 8, 2025 merger.

Summary

• Sean Black, SVP, Engineering & R&T at Spirit AeroSystems Holdings, Inc., reported changes in beneficial ownership.
• On December 8, 2025, Spirit AeroSystems' Class A Common Stock was automatically canceled and converted into the right to receive shares of The Boeing Company common stock.
• Each share of Spirit AeroSystems Class A Common Stock was exchanged for 0.1955 shares of Boeing common stock.
• Black disposed of 19,474 shares of Spirit AeroSystems Class A Common Stock.
• 23,611 Restricted Stock Units (RSUs) held by Black were automatically converted into Boeing RSUs.
• The number of Boeing shares subject to each Boeing RSU is the product of the original Spirit AeroSystems RSU share count multiplied by the 0.1955 exchange ratio, rounded to the nearest whole number.
• The Boeing RSUs continue to be governed by the same terms and conditions, including vesting terms, as the original Spirit AeroSystems RSUs.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual report of an insider's equity conversion following a merger, with no explicit positive or negative financial performance implications for the company.

Positives

• The reporting person's Restricted Stock Units (RSUs) were converted into Boeing RSUs, retaining their original vesting terms, ensuring continuity of equity incentives.

Negatives

• The reporting person's Class A Common Stock in Spirit AeroSystems was canceled, reflecting the cessation of direct ownership in the acquired entity.

Future Outlook

The converted Boeing Restricted Stock Units (RSUs) will continue to be governed by their original vesting terms, indicating a continued equity incentive for the reporting person within The Boeing Company structure.

Industry Context

This filing is a direct consequence of the merger between Spirit AeroSystems Holdings, Inc. and The Boeing Company, a significant consolidation within the aerospace manufacturing sector where a major supplier is integrated with its primary customer. Such transactions often lead to the conversion of equity holdings for executives and employees of the acquired entity.

Stakeholder Impact

• Shareholders of Spirit AeroSystems (represented by the reporting person's transaction) had their Class A Common Stock converted into Boeing common stock.
• Employees holding Spirit AeroSystems equity (represented by the reporting person) had their Restricted Stock Units converted into Boeing RSUs, maintaining their equity incentives under the new corporate structure.

Next Steps

• The Boeing Restricted Stock Units (RSUs) will continue to vest according to their original terms and conditions.

Key Dates

Keywords

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