Letarte Tyler 4

What Happened

• Tyler Letarte, a director of Yellowstone Midco Holdings II, LLC (YSS), received an award of 5,294 restricted stock units (RSUs) and separately purchased 1,470 shares on January 30, 2026. The RSUs were granted at $0.00 (award), and the open-market/private purchase was at $34.00 per share for a total cash outlay of $49,980. The award (RSUs) vests on the first anniversary of the grant date (see footnote F1).

Key Details

• Transaction dates: January 30, 2026 (both award and purchase). Filing date: February 3, 2026.
• Award: 5,294 RSUs granted at $0.00 (Footnote F1: RSUs vest one year after grant).
• Purchase: 1,470 shares acquired at $34.00 each, total $49,980 (Footnote F2: $34 = IPO price to the public).
• Transaction codes: A = Award/Grant; P = Purchase.
• Shares owned after the transactions: not specified in the reporting extract.
• Filing timeliness: report filed Feb 3, 2026 for transactions dated Jan 30, 2026; the filing does not indicate a late status in the provided information.

Context

• The award is a restricted stock unit grant that will convert to shares if/when it vests one year after the grant—this is a standard form of director compensation and is not an immediate cash transaction. The purchase (P) involved the director spending personal funds (~$50K), which some investors view as a more direct bullish signal than awards. The filing lists a director (not necessarily an executive or 10% owner); no 10b5-1 plan, gift, or tax-withholding event was indicated in the provided details.