Madison Air (MAIR) 10% Owner Larry Gies Receives Awards Worth $620M

What Happened Larry Gies, reported as a 10% owner of Madison Air Solutions Corp (MAIR), acquired two blocks of shares on 2026-08-25 under Form 4 transaction code A (grant/award or other acquisition). He received 12,014,417 shares at $24.97 each (value $299,999,992) and 12,815,378 shares at $24.97 each (value $319,999,989) for a combined 24,829,795 shares valued at roughly $619,999,981 (~$620M). Although coded as awards/acquisitions, the filing’s footnote states these represent purchases from the issuer under a securities purchase agreement expected to close on Sept 1, 2026.

Key Details

• Transaction date: 2026-08-25; Filing date: 2026-08-27 (filed within typical 2-business-day window).
• Price per share: $24.97; Shares acquired: 12,014,417 and 12,815,378; Total shares: 24,829,795; Total value: ~$620M.
• Footnote F1: Purchase from issuer pursuant to a securities purchase agreement with institutional accredited investors; closing expected Sept 1, 2026.
• Footnotes F2/F3: Some reported securities are held in Mr. Gies’ revocable trust and/or directly by Madison Solutions LLC. As sole manager of Madison Solutions, Mr. Gies may be deemed to beneficially own those shares but disclaims ownership except to the extent of his pecuniary interest.
• Shares owned after the transaction are not specified in the filing.
• Remarks note certain entities may be “directors-by-deputization” solely for Section 16 purposes.

Context This is an acquisition (purchase from the issuer) by a large, reported 10% owner rather than an open-market trade or option exercise. Purchases by major holders can be informative to investors, but the filing includes standard disclaimers about beneficial ownership and indicates the transfers are tied to a formal purchase agreement with institutional investors.