KELTER JEFFREY E 4
4 · Bridger Aerospace Group Holdings, Inc. · Filed Jun 8, 2026
Research Summary
AI-generated summary of this filing
Bridger Aerospace (BAER) Director Jeffrey Kelter Receives Award
What Happened
- Jeffrey E. Kelter, a director of Bridger Aerospace Group Holdings, Inc. (BAER), received an award of 158,049 restricted stock units (RSUs) on June 4, 2026. The units were granted at $0.00 per share (reported acquisition value $0). This was a grant/award (Form 4 code A), not a purchase or sale.
Key Details
- Transaction date: 2026-06-04; Filed with the SEC: 2026-06-08 (appears to be after the 2-business-day Section 16 reporting window).
- Grant: 158,049 RSUs; reported price: $0.00; reported value: $0.
- Vesting: Per footnote, these RSUs vest on the 12-month anniversary of June 4, 2026 (i.e., generally vest on June 4, 2027) subject to continued service.
- Earnout components: Some shares are subject to performance (earnout) vesting tied to VWAP thresholds ($11.50 and $13.00 for 20 of 30 trading days) during the earnout period; any earnout shares not vested by the end of the earnout period are forfeited.
- Derivative explanation: Each RSU is a contingent right to one share of common stock upon vesting (not presently voting stock).
- Ownership notes: Footnotes indicate indirect relationships with Kelter Family Investments LLC / KFI, a fund manager role, and shared authority over Windy Point Investments LLC holdings; the reporting person disclaims beneficial ownership of those entity-held shares except to the extent of any pecuniary interest.
- Filing timeliness: The Form 4 was filed four days after the transaction date; under Section 16 rules insiders generally must file within two business days, so this filing appears late.
Context
- RSUs are grants, not buys or sales — they convey future rights to shares if vesting conditions are met. Time-based RSUs imply compensation for service; earnout RSUs tie vesting to stock-price performance thresholds.
- Awards like this are common for directors and executives as compensation/retention; they do not reflect an immediate market purchase or sale.
Insider Transaction Report
Form 4
KELTER JEFFREY E
Director
Transactions
- Award
Common Stock
[F1][F2]2026-06-04+158,049→ 986,273 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 shall vest on the 12-month anniversary of June 4, 2026, subject to the Reporting Person's continued service through such date.
- [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/ Jeffrey E. Kelter|2026-06-08