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FLYFirefly Aerospace Inc. · Insider ownership research

Firefly Aerospace Inc. insiders sold $339K in the past 12 months. How much of their stake is that?

About 0.2% overall. As a group they still hold 46% of their starting shares. The biggest individual seller, David Wheeler, sold shares equal to 6.4% of starting holdings, but more vested, so the stake grew.

Updated Oct 8, 2026 from SEC filings · covers Oct 9, 2025 to Oct 8, 2026
How this comparesMore of their stake sold than at 24 of the 156 other companies we can measure (#133 of 157)See ranking
0
buyers among officers and directors, past 12 months
100%
of sales were under disclosed trading plans, past 12 months
1 of 17
officers and directors sold shares, past 12 months
Recent activity · past 30 days, Sep 9, 2026 to Oct 8, 2026
Sep 16, 20264 executives had 123K shares ($2.5M) withheld by the company for taxes (not a market sale). That is between 3.1% and 9.2% of each person's total stake held that day.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Jesung Kim
Chief Executive Officer, Director
86,265$20.289.2%855KSep 16, 2026Sep 18, 2026
Darren Ma
Chief Financial Officer
18,309$20.287.0%242KSep 16, 2026Sep 18, 2026
Russell Ferring
Chief Technology Officer
16,700$20.283.1%525KSep 16, 2026Sep 18, 2026
Remington Wu
Chief Accounting Officer
1,827$20.284.5%39KSep 16, 2026Sep 18, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Is this normal? Not enough history to compare: fewer than three earlier years of filings. Year by year
Latest filing: Filed Oct 7 for a stock award on Oct 5. Richard Ambrose received an award of 6.7K shares. Filing
44 SEC ownership filings in the period · See the evidence

What stands out

Outside holder AEROEQUITY GP, LLC, a 10% owner and not part of management, sold $384M of stock.Largest sale, Jun 1, 2026
Tax withholding outweighed market sales: the company withheld $2.5M of officers' and directors' shares for taxes, against $339K sold on the open market. The largest was Jesung Kim ($1.7M withheld).Largest withholding, Sep 16, 2026
David Wheeler sold 7.5K shares (6.4% of starting holdings), but 33K more vested, so the stake grew (from 118K to 143K).Largest sale, May 18, 2026

Percentages cover 11 of 17 officers and directors. 6 are left out

i
Left out: Marc Weiser, Kevin McAllister, Christopher Emerson IV, Ramon Sanchez, Nathan O'Konek and Richard Ambrose (held no vested shares at the start).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.

SoldRest of starting stakeAdded during the period
David Wheeler
General Counsel
Sold 6.4%, but 7.5K shares were added (mostly vesting), so the stake grew
6.4% · $339KDisclosed plan
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosed
OctNovDecJanFebMarApr 2026: $170K under a disclosed planAprMay 2026: $170K under a disclosed plan$170KMayJunJulAugSepOct

Outside holders, reported separately

AEROEQUITY GP, LLC sold $384M in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Firefly Aerospace Inc. CEO selling stock?

No. Jesung Kim reported no open-market sales in the past 12 months.

Why are Firefly Aerospace Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 100% of sales by value ran under 10b5-1 trading plans disclosed in the filings. A trading plan schedules sales in advance.

Are any Firefly Aerospace Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did Firefly Aerospace Inc. insiders sell?

About 0.2% overall. As a group they still hold 46% of their starting shares. The biggest individual seller, David Wheeler, sold shares equal to 6.4% of starting holdings, but more vested, so the stake grew. That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold1 officer or director: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
David Wheeler
General Counsel
$339K
7.5K shares
6.4%Disclosed plan

Board members representing outside shareholders, reported separately: Marc Weiser. Details

Outside holder, reported separately: AEROEQUITY GP, LLC (a 10% owner, not part of management). Sold $384M (8.00M shares) from Jun 1, 2026 to Jun 1, 2026. Latest filing

Outside holder, reported separately: Astera Institute (a 10% owner, not part of management). No open-market sales reported in the period. Holds 12.86M shares. Latest filing

Outside holder, reported separately: Thomas Markusic (a 10% owner, not part of management). No open-market sales reported in the period. Holds 7.48M shares. Latest filing

Outside holder, reported separately: MITSUI & CO LTD (a 10% owner, not part of management). No open-market sales reported in the period. Holds 5.03M shares. Latest filing

The full ownership picture17 of 17 insiders fully reconciled · 17 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 8, 2025SoldHeld Oct 8, 2026Still held
Ryan Boland
i
Minor difference of 1,107 shares. Difference is stated in footnotes (unreported vesting, exempt acquisition or transfer). Includes unvested RSUs, amount not disclosed. In-kind distributions to the fund's own investors are labeled as distributions, not sales.
Director
2.87M0134Kno sales
Vesting, gifts, unvested awards and holding lines for Ryan Boland
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
  • In-kind distributions to the fund's own investors are labeled as distributions, not sales.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock06,964
Lunar Technology I LLCCommon Stock1,601,4400
Mars Technology Holdings LLCCommon Stock729,5690
Ares Technology I LLCCommon Stock539,1420
Ryan M. Boland Revocable TrustCommon Stock0127,156

Reconciliation: minor difference of 1,107 shares. Difference is stated in footnotes (unreported vesting, exempt acquisition or transfer).

Jesung Kim
i
Includes unvested RSUs, amount not disclosed.
Chief Executive Officer, Director
889K0899Kno sales
Vesting, gifts, unvested awards and holding lines for Jesung Kim
+43Kshares vested or exercised
0gifted (net of own trusts)
−86Kwithheld by the company for taxes
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock888,889898,738

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
588,462$2.31May 5, 2035$26.9M
2,240,467$0.91Oct 23, 2034$106M

Estimate: options held × ($48.00 − strike price), using the most recent insider trade price on Form 4 (Jun 1, 2026), not a market close.

Russell Ferring
i
Includes unvested RSUs, amount not disclosed.
Chief Technology Officer
526K0525Kno sales
Vesting, gifts, unvested awards and holding lines for Russell Ferring
0shares vested or exercised
0gifted (net of own trusts)
−17Kwithheld by the company for taxes
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock526,368525,424

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
246,557$2.31May 5, 2035$11.3M
16,109$0.81Jun 19, 2034$760K
17,823$0.88Aug 30, 2032$840K
7,703$1.01Feb 16, 2032$362K
3,381$1.01Aug 29, 2031$159K
85,535$1.01Jul 20, 2031$4.0M
31,266$0.49Apr 11, 2031$1.5M

Estimate: options held × ($48.00 − strike price), using the most recent insider trade price on Form 4 (Jun 1, 2026), not a market close.

Darren Ma
i
Minor difference of 768 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.
Chief Financial Officer
234K0330Kno sales
Vesting, gifts, unvested awards and holding lines for Darren Ma
+88Kshares vested or exercised
0gifted (net of own trusts)
−19Kwithheld by the company for taxes
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock233,546329,897

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
898,450$2.31May 5, 2035$41.0M
23,046$0.81Jun 19, 2034$1.1M
200,883$0.88Jun 16, 2032$9.5M
46,092$1.01Feb 16, 2032$2.2M
168,794$1.01Jul 20, 2031$7.9M
33,233$0.49Jan 7, 2031$1.6M

Estimate: options held × ($48.00 − strike price), using the most recent insider trade price on Form 4 (Jun 1, 2026), not a market close.

Reconciliation: minor difference of 768 shares. Difference is under 0.5% of holdings.

David Wheeler
i
Includes unvested RSUs, amount not disclosed.
General Counsel
118K−7.5K143K+21%
Vesting, gifts, unvested awards and holding lines for David Wheeler
+7.5Kshares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock117,714142,758

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
295,992$2.31May 5, 2035$13.5M
13,696$0.81Jun 19, 2034$646K
36,873$0.88Jun 16, 2032$1.7M

Estimate: options held × ($48.00 − strike price), using the most recent insider trade price on Form 4 (Jun 1, 2026), not a market close.

Daniel Fermon
i
Includes unvested RSUs, amount not disclosed.
Chief Operating Officer
89K089Kno sales
Vesting, gifts, unvested awards and holding lines for Daniel Fermon
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock88,88988,889

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
161,321$2.31May 5, 2035$7.4M
23,046$0.81Jun 19, 2034$1.1M
153,639$0.88Oct 23, 2032$7.2M

Estimate: options held × ($48.00 − strike price), using the most recent insider trade price on Form 4 (Jun 1, 2026), not a market close.

Remington Wu
i
Includes unvested RSUs, amount not disclosed.
Chief Accounting Officer
30K039Kno sales
Vesting, gifts, unvested awards and holding lines for Remington Wu
0shares vested or exercised
0gifted (net of own trusts)
−1.8Kwithheld by the company for taxes
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock30,00038,596

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
30,728$2.31May 5, 2035$1.4M

Estimate: options held × ($48.00 − strike price), using the most recent insider trade price on Form 4 (Jun 1, 2026), not a market close.

Pamela Braden
i
Includes unvested RSUs, amount not disclosed.
Director
24K031Kno sales
Vesting, gifts, unvested awards and holding lines for Pamela Braden
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock24,25231,216
Kirk Konert
i
Includes unvested RSUs, amount not disclosed.
Director
3.3K010Kno sales
Vesting, gifts, unvested awards and holding lines for Kirk Konert
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock3,33310,297
Jonathan Lusczakoski
i
Includes unvested RSUs, amount not disclosed.
Director
2.2K09.2Kno sales
Vesting, gifts, unvested awards and holding lines for Jonathan Lusczakoski
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock2,2229,186
Thomas Zurbuchen
i
Includes unvested RSUs, amount not disclosed.
Director
80007.8Kno sales
Vesting, gifts, unvested awards and holding lines for Thomas Zurbuchen
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock8007,764

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
6,146$2.31May 5, 2035$281K

Estimate: options held × ($48.00 − strike price), using the most recent insider trade price on Form 4 (Jun 1, 2026), not a market close.

Marc Weiser
i
Includes unvested RSUs, amount not disclosed. Shares held through BGW Ventures IV, LP, RPM Ventures IV, L.P belong to an outside shareholder this director represents; they are listed under "Board members representing outside shareholders", not here.
Director
003.3Kno sales
Vesting, gifts, unvested awards and holding lines for Marc Weiser
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
  • Shares held through BGW Ventures IV, LP, RPM Ventures IV, L.P belong to an outside shareholder this director represents; they are listed under "Board members representing outside shareholders", not here.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock03,334
Kevin McAllister
i
Includes unvested RSUs, amount not disclosed.
Director
007Kno sales
Vesting, gifts, unvested awards and holding lines for Kevin McAllister
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock06,964
Christopher Emerson IV
i
Includes unvested RSUs, amount not disclosed.
Director
007Kno sales
Vesting, gifts, unvested awards and holding lines for Christopher Emerson IV
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock06,964

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
15,364$0.88Oct 23, 2032$724K

Estimate: options held × ($48.00 − strike price), using the most recent insider trade price on Form 4 (Jun 1, 2026), not a market close.

Ramon Sanchez
i
Includes unvested RSUs, amount not disclosed.
Chief Operating Officer
00118Kno sales
Vesting, gifts, unvested awards and holding lines for Ramon Sanchez
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock0118,493
Nathan O'Konek
i
Includes unvested RSUs, amount not disclosed.
General Counsel & Secretary
00103Kno sales
Vesting, gifts, unvested awards and holding lines for Nathan O'Konek
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock0103,154
Richard Ambrose
i
Includes unvested RSUs, amount not disclosed.
Director
006.7Kno sales
Vesting, gifts, unvested awards and holding lines for Richard Ambrose
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
Common Stock06,716

17 of 17 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (15 exactly, 2 with a minor or footnoted difference). Percentages cover 11 of 17 officers and directors. Left out: Marc Weiser, Kevin McAllister, Christopher Emerson IV, Ramon Sanchez, Nathan O'Konek and Richard Ambrose (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$339K of sales by plan status, purpose, seller and month

Officer and director open-market sales: $339K across 7,531 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Taxes

123,357 shares ($2.5M) were withheld by the company for taxes, which isn't a market sale.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
David Wheeler
General Counsel
7.5K$339K100%100%Apr 17, 2026 to May 18, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$0$0$0$0
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$0$0$0$0
Mar 2026$0$0$0$0
Apr 2026$170K$170K$0$0
May 2026$170K$170K$0$0
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Board members representing outside shareholders (1)Listed and sourced; not part of the management totals or the answer line

Directors whose reported holdings sit mostly in an investment fund or a corporate shareholder they represent, not in their own name, with beneficial ownership disclaimed except for their own financial interest. Listed and sourced here; not part of the management totals or the answer line. Shares a fund hands to its own investors are distributions, not sales.

Board memberHeld Oct 8, 2025SoldHeld Oct 8, 2026Still held
Marc Weiser
Director
4.05M04.05Mno sales
Vesting, gifts, unvested awards and holding lines for Marc Weiser
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
BGW Ventures IV, LPCommon Stock2,840,0432,840,043
RPM Ventures IV, L.PCommon Stock1,205,2091,205,209
Is this normal? Selling year by yearNot enough history to compare

Not enough history to compare: fewer than three earlier years of filings.

12 months endingShares soldInsiders who soldProceeds
Oct 8, 2026
Latest 12 months
7.5K1$339K
Oct 8, 2025
1 year earlier · filings don't cover the whole year
n/an/an/a
Oct 8, 2024
2 years earlier · filings don't cover the whole year
n/an/an/a
Oct 9, 2023
3 years earlier · filings don't cover the whole year
n/an/an/a
Oct 9, 2022
4 years earlier · filings don't cover the whole year
n/an/an/a
Oct 9, 2021
5 years earlier · filings don't cover the whole year
n/an/an/a

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertaintyEvery officer and director reconciles

Every officer and director reconciles for this period.

Ryan Boland: minor difference of 1,107 shares. Difference is stated in footnotes (unreported vesting, exempt acquisition or transfer).

Darren Ma: minor difference of 768 shares. Difference is under 0.5% of holdings.

Inferred rename: "Lunar Technology LLC" is treated as the same holder as "Lunar Technology I LLC", because the old name was never reported again and the new one opened with the same balance (1,601,440 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology68 filings from SEC EDGAR, and how we read them

All 68 Forms 3, 4 and 5 filed for Firefly Aerospace Inc. (SEC CIK 1860160) from Aug 6, 2025 to Oct 7, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology