HAN BERNARD L 4

What Happened

• Han Bernard, a director of Frontier Group Holdings (ULCC), had 34,230 vested restricted stock units (RSUs) convert into shares on May 14, 2026 (reported as derivative conversion/exercise). Those 34,230 shares were immediately disposed at $0.00 (likely share withholding for taxes). At the same time he was granted 32,990 new RSUs (award) with no cash paid.
• All reported transactions show $0 price or N/A, so there were no cash proceeds or purchases in these filings.

Key Details

• Transaction date: May 14, 2026; Form 4 filed May 18, 2026 (filed within the SEC’s two-business-day window).
• Conversions/Exercise (code M): 34,230 shares converted; Disposition of derivative (also 34,230) at $0.00 — typically indicates shares were withheld for tax withholding/obligations.
• Award/Grant (code A): 32,990 RSUs granted at $0.00 (derivative).
• Footnotes:
  • F1: Each RSU represents a contingent right to one share; RSUs have no expiration.
  • F2: The RSUs that converted had fully vested as of May 14, 2026.
  • F3: The newly granted RSUs will vest in full on the earlier of May 14, 2027 or immediately prior to the next annual meeting, subject to continued service.
• Shares owned after the transactions are not specified in the reported summary.

Context

• For retail investors: this is primarily an administrative/compensation event (vesting, conversion and tax-withholding), not an open-market buy or sell that indicates trading sentiment. The disposal at $0.00 is consistent with shares being surrendered to cover taxes rather than a market sale. The new RSUs are a forward-looking award subject to service-based vesting.