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Frontier Group Holdings, Inc.·4

May 18, 4:02 PM ET

Connor Josh T. 4

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Frontier (ULCC) Director Josh T. Connor Exercises Derivative, Receives RSUs

What Happened
Josh T. Connor, a director of Frontier Group Holdings, reported derivative and award transactions dated May 14, 2026. The Form 4 shows an exercise/conversion of 34,230 derivative units (transaction code M) and a simultaneous disposition of 34,230 shares reported at $0.00. In addition, Connor acquired (award) 32,990 restricted stock units (RSUs) reported at $0.00; footnotes indicate the RSUs represent the right to one share each and have vested as of May 14, 2026. The filing reports no cash proceeds.

Key Details

  • Transaction date(s): May 14, 2026; Form 4 filed May 18, 2026 (reporting period: 2026-05-14).
  • Derivative exercise/ conversion: 34,230 shares (code M); corresponding disposition of 34,230 shares at $0.00 (reported as derivative).
  • Award/grant: 32,990 RSUs acquired at $0.00 (code A). Footnotes:
    • F1: Each RSU = contingent right to one share; RSUs have no expiration.
    • F2: The RSUs have fully vested as of May 14, 2026.
    • F3: (Additional note in filing) RSUs generally vest in full on earlier of May 14, 2027 or prior to the next annual meeting, subject to continued service.
  • Shares owned after the transactions: not specified in the provided summary of the filing.
  • Filing timeliness: Form filed 4 days after the transaction date; check original filing for whether it met the SEC two-business-day Form 4 deadline.

Context

  • Derivative transactions (code M) mean options or other convertible instruments were exercised/converted into shares. The paired "Disposed" line at $0.00 often appears when shares are transferred, withheld, or otherwise accounted for in connection with conversion/settlement; the filing does not show cash proceeds or an open-market sale.
  • RSU awards are not cash purchases and reflect compensation or retention units; because these RSUs are reported as vested, they represent a near-term entitlement to shares.
  • These transactions are factual disclosures required by the SEC and do not by themselves indicate the director’s market view; purchases are generally considered more directly bullish than awards or exercises.