McRae Jeffrey L. 4

What Happened
Jeffrey L. McRae, Chief Financial Officer of Applied Aerospace & Defense, purchased 25,000 shares on 2026-06-04 at $20.00 per share, for a total purchase value of $500,000. The filing reports this as a purchase (P), indicating an acquisition rather than a sale.

Key Details

• Transaction date: 2026-06-04
• Price and size: 25,000 shares at $20.00 per share = $500,000 total
• Transaction type: Purchase (code P) reported on Form 4
• Footnote: Shares were purchased under the directed share program in connection with the issuer's initial public offering (IPO) (see footnote F1)
• Shares owned after the transaction: Not specified in the provided filing
• Timeliness: Filing date matches the report date (no late filing indicated)

Context
The purchase was executed through the company's directed share program tied to the IPO, meaning these shares were allocated in connection with the offering rather than bought in the open market. Insider purchases can be viewed as a positive signal since executives are increasing their equity stake, but this transaction reflects participation in the IPO allocation process rather than an independent open-market investment.