Firefly Aerospace CEO Kim Jesung Exercises 43,278 Options

What Happened

• Kim Jesung, CEO of Firefly Aerospace (FLY), exercised stock options on 2026-09-22 to acquire 43,278 common shares at an exercise price of $2.31 per share, for a total cash payment of $99,998. The Form 4 also reports a corresponding disposition of the derivative instrument (the option) at $0, which reflects the cancellation/conversion of the option upon exercise.

Key Details

• Transaction date: 2026-09-22; Form 4 filed 2026-09-23 (timely).
• Acquired: 43,278 shares at $2.31 each; total cash paid $99,998 (transaction code M = option exercise).
• Derivative entry: 43,278 shares disposed at $0 — represents the option being converted/cancelled upon exercise.
• Shares owned after transaction: not specified in the filing.
• Footnote: All shares subject to the option were fully vested and exercisable as of the exercise date (F1).

Context

• This was an option exercise (not a sale). No immediate open-market sale of the acquired shares is reported on the Form 4, so this transaction represents acquisition of stock via exercising vested options rather than a monetization event. Such exercises are common for insiders when options vest or when they choose to convert options into shares.