Lenz Michael C. 4

What Happened
Michael C. Lenz, a director of Republic Airways Holdings, received an award of 7,261 restricted stock units (RSUs) on May 21, 2026. The Form 4 reports an acquisition price of $0.00 and a reported transaction value of $0 (this reflects the accounting/reporting of the grant on the Form 4). The footnote to the filing states the RSUs were granted as board compensation and were fully vested upon grant.

Key Details

• Transaction date: 2026-05-21; Report filed: 2026-05-26.
• Reported acquisition price: $0.00; reported transaction value: $0.
• Shares acquired: 7,261 RSUs, fully vested upon grant (per footnote F1).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote F1: award of RSUs granted as compensation for board service and fully vested on grant.
• Timeliness: Filing date (May 26) is 5 days after the transaction date (May 21), which appears late relative to the Form 4 two-business-day reporting rule.

Context
This was a compensation grant (RSUs) rather than an open-market buy or sale. Because the RSUs were fully vested upon grant, Lenz immediately received the economic entitlement, but the Form 4 reports the grant price as $0. Awards and grants are routine for director compensation and do not by themselves indicate a buy or sell market signal.