KELTER JEFFREY E 4
4 · Bridger Aerospace Group Holdings, Inc. · Filed Mar 11, 2026
Research Summary
AI-generated summary of this filing
Bridger Aerospace (BAER) Director Jeffrey Kelter Receives RSU Award
What Happened
Jeffrey E. Kelter, a director of Bridger Aerospace Group Holdings, Inc. (BAER), was reported as acquiring 100,000 restricted stock units (RSUs) that vested in full on March 9, 2026. The Form 4 lists the transaction as an award/acquisition (code A) at an acquisition price of $0.00 (total $0 on the form), reflecting RSU vesting rather than a cash purchase.
Key Details
- Transaction date: March 9, 2026; Form 4 filed March 11, 2026 (timely filing).
- Transaction type/code: Award/Grant (A) — 100,000 RSUs vested and were treated as acquired. Reported acquisition price: $0.00.
- Shares owned after transaction: Not specified in the excerpt provided.
- Notable footnotes from the filing:
- F1: Each RSU represents a right to one share; these RSUs vested in full on March 9, 2026.
- F2/F4: The filing references additional “Earnout Shares” subject to vesting triggers (examples: 42,498 and 212,491 shares referenced), which vest only if certain VWAP-based milestones are met during the earnout period.
- F3/F5: Disclaimers regarding indirect holdings via Kelter Family Investments LLC / K5 Equity Capital Holdings, LLC and Windy Point Investments LLC — Kelter disclaims beneficial ownership of those entity-held shares except to the extent of any pecuniary interest.
Context
This transaction is a vesting of RSUs (an award becoming shares) rather than an open-market buy or sale. RSU vesting is a common form of compensation for insiders and does not itself signal a buy or sell decision. The filing includes earnout-style shares subject to future price-based vesting conditions and contains customary disclosure about entity holdings and disclaimers of beneficial ownership.
Insider Transaction Report
Form 4
KELTER JEFFREY E
Director
Transactions
- Award
Common Stock
[F1][F2]2026-03-09+100,000→ 828,224 total
Holdings
- 302,020(indirect: By LLC)
Common Stock
[F3] - 627,800(indirect: By LLC)
Common Stock
[F4][F5]
Footnotes (5)
- [F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock. These RSUs vested in full on March 9, 2026.
- [F2]Includes 42,498 shares which vest generally as follows: (i) 50% of the shares vest on the first date during the Earnout Period (defined below) on which the VWAP of the shares exceeds $11.50 for a period of at least 20 out of 30 consecutive trading days, and (ii) 50% of the shares vest on the first date during the Earnout Period on which the VWAP exceeds $13.00 for a period of at least 20 out of 30 consecutive trading days (shares vesting on such schedule, the "Earnout Shares"). The "Earnout Period" is the time period beginning on the date immediately following the January 24, 2023 closing of the Issuer's initial business combination (the "Closing Date") and ending on and including the five year anniversary of the Closing Date. Any Earnout Shares not vested by the end of the Earnout Period shall be forfeited back to the Issuer for no consideration.
- [F3]Kelter Family Investments LLC ("KFI") is the manager to K5 Equity Capital Holdings, LLC (the "Fund"). The Reporting Person is the manager of KFI. By virtue of the relationships described herein, the Reporting Person and KFI may be deemed to indirectly beneficially own the shares of the Issuer's Common Stock held by the Fund. The Reporting Person and KFI disclaim beneficial ownership of the shares of the Issuer's Common Stock held by the Fund for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Act"), except to the extent of their pecuniary interest therein, if any, and the filing of this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Act or for any other purpose.
- [F4]Includes 212,491 Earnout Shares.
- [F5]Mr. Kelter holds shared authority to direct the voting and disposition of shares held by Windy Point Investments LLC. The Reporting Person disclaims beneficial ownership of the shares of the Issuer's Common Stock held by Windy Point Investments LLC for purposes of Rule 16a-1(a) under the Act, except to the extent of the Reporting Person's pecuniary interest therein, if any, and the filing of this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Act or for any other purpose.
Signature
/s/ James Muchmore, attorney-in-fact for Jeffrey E. Kelter|2026-03-11