SEC FORM 4

SEC FORM 4SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Boland Ryan Michael

(Last)

(First)

(Middle)

C/O FIREFLY AEROSPACE INC.

1320 ARROW POINT DRIVE #109

(Street)

CEDAR PARK

TEXAS

78613

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Firefly Aerospace Inc. [ FLY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/23/2026		J		539,143⁽¹⁾⁽²⁾	D	⁽¹⁾	0	I	See footnote⁽³⁾
Common Stock	03/23/2026		J		688,751⁽⁴⁾⁽⁵⁾	D	⁽⁴⁾	40,821	I	See footnote⁽⁶⁾
Common Stock	03/23/2026		J		1,601,440⁽⁷⁾	D	⁽⁷⁾	0	I	See footnote⁽⁸⁾
Common Stock	03/23/2026		J		122,860⁽¹⁾⁽⁴⁾⁽⁷⁾	A	⁽¹⁾⁽⁴⁾⁽⁷⁾	122,860	I	See footnote⁽⁹⁾
Common Stock								3,334	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents shares of common stock distributed by Ares Technology I LLC ("Ares") on a pro rata basis to its limited partners, including 26,537 shares to the Ryan M. Boland Revocable Trust.

2. Includes 1 share of common stock that was inadvertently excluded from the Form 3 filed by the reporting person on August 6, 2025.

3. The reporting person exercised voting and dispositive control over the shares of common stock previously held by Ares.

4. Represents shares of common stock distributed by Mars Technology Holdings LLC ("Mars") on a pro rata basis to its limited partners, including 36,803 shares to the Ryan M. Boland Revocable Trust.

5. Includes 3 shares of common stock that were inadvertently excluded from the Form 3 filed by the reporting person on August 6, 2025.

6. The reporting person exercises voting and dispositive control over the shares of common stock held by Mars.

7. Represents shares of common stock distributed by Lunar Technology I LLC ("Lunar") on a pro rata basis to its limited partners, including 59,520 shares to the Ryan M. Boland Revocable Trust.

8. The reporting person exercised voting and dispositive control over the shares of common stock previously held by Lunar.

9. These shares are held directly by the Ryan M. Boland Revocable Trust for which the reporting person serves as trustee. The reporting person may be deemed to have beneficial ownership of the shares held by the trust.

	/s/ David Wheeler, Attorney-in-fact	03/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

SEC Form 4 filed by Boland Ryan Michael