La Force Andrew Hudson III 4

What Happened
Andrew Hudson La Force III, a director of Madison Air Solutions Corp. (MAIR), was granted 5,711 equity appreciation rights units (EAR Units) on June 25, 2026. The award was reported on a Form 4 filed June 29, 2026. The grant price is listed as $0.00 (no cash paid); each EAR Unit represents the right to receive one share of the issuer's Class A common stock upon vesting, subject to continued service.

Key Details

• Transaction date: 2026-06-25; Form 4 filed: 2026-06-29 (filed within the standard 2 business days).
• Transaction type/code: Award/Grant (A). Amount: 5,711 EAR Units; reported value $0.00.
• Footnote F1: Each EAR Unit converts to one Class A share upon vesting, contingent on continued service.
• Footnote F2: The filing notes holdings "include 16,713 EAR Units" (this is the reported total EAR Units referenced in the filing).
• The filing does not report a cash purchase or sale; this is a compensation award, not an open-market trade.

Context
EAR Units are derivative awards—they typically vest over time and convert to stock later, so they do not immediately increase free-floating shares until vesting/conversion. Awards are common for compensating directors and employees; they do not necessarily signal immediate bullish or bearish trading intent.