David Leigh Wheeler, who serves as General Counsel for Firefly Aerospace Inc. (FLY), completed paired option-exercise and disposition transactions on April 17, 2026. On that date Mr. Wheeler exercised employee stock options to acquire 3,766 shares of the company’s common stock at an exercise price of $2.3106 per share, for a total cash outlay of $8,701. All of the shares subject to the option exercise were fully vested and exercisable at the time of the transaction.
Immediately following the exercise, the same 3,766 shares were sold on the open market for aggregate proceeds of $169,607. The sale executed at a weighted average price of $45.0366 per share, with individual trade prices ranging from $45.00 to $45.06.
Both the acquisition through option exercise and the subsequent sale were carried out pursuant to a Rule 10b5-1 trading plan that Mr. Wheeler adopted on December 5, 2025. The planned trades follow a period of substantial share-price appreciation for Firefly; the stock has risen 92% year-to-date. At the time of the reported sale, Firefly's common stock was trading at $42.79, below the weighted average sale price realized by Mr. Wheeler.
After these transactions, Mr. Wheeler’s direct holdings in Firefly stand at 142,758 shares of common stock. The company disclosure specifies that a portion of those direct holdings are Restricted Stock Units (RSUs), with each RSU representing a contingent right to receive one share of the firm’s common stock. In addition to his direct share ownership, Mr. Wheeler holds 299,757 derivative securities in the form of employee stock options.
Contextual items disclosed alongside the insider activity underscore the company’s recent operational and financial developments. Firefly reported fourth-quarter 2025 results that beat consensus estimates on revenue, EBITDA, and earnings per share. The company also amended its credit facility with Wells Fargo Bank and other lenders to increase the facility by $45 million, lifting the total to $305 million. The amendment raised the interest spread on the facility by 0.25%, and the facility carries a maturity date of August 8, 2028.
On the strategic front, Firefly announced a partnership with NVIDIA to integrate AI processing capabilities on its Elytra spacecraft for lunar operations, intended to support the company’s Ocula Moon imaging service. These corporate developments were reported alongside analyst coverage updates: Cantor Fitzgerald reiterated an Overweight rating for Firefly Aerospace with a $35 price target following the Space Symposium conference, noting an improved NASA outlook and resilient intelligence tailwinds while reducing its prior price target from $65 to $35. Goldman Sachs lowered its price target to $29 from $32 and maintained a Neutral rating.
In market-analysis commentary included in the disclosures, InvestingPro analysis is cited as indicating that Firefly appears overvalued at current levels. The same disclosure references additional ProTips and Pro Research Reports available through that service covering this and other U.S. equities.
The sequence of transactions reported for Mr. Wheeler - exercise of fully vested options followed immediately by an open-market sale, executed under an existing Rule 10b5-1 plan - leaves his remaining direct and derivative positions intact as described above. The filings show a combination of share ownership types, including RSUs and employee stock options, which together compose his total reported economic exposure to Firefly.
All numerical figures, dates, and plan details reported here reflect the company disclosures related to Mr. Wheeler’s transactions and the accompanying corporate and analyst information released in connection with those filings.