The latest Form 4 filing shows that entities affiliated with AE Industrial Partners have collectively sold 8,000,000 shares of Firefly Aerospace Inc. (ticker: FLY) common stock on June 1, 2026 at a price of $48 per share. Specifically, Glow NS Holdings, LLC disposed of 5,198,872 shares and Glow Holdings Aggregator, LLC disposed of 2,801,128 shares, all reported as indirect holdings. AeroEquity GP, LLC, as the managing entity of AE Fund II GP and AE Fund III GP, exercises control over the holding structure, with Michael Greene and David Rowe making all voting and investment decisions, and therefore reports these transactions in its capacity as a director of the issuer. Although the entities and individuals disclaim beneficial ownership except to the extent of their pecuniary interest, such sizable insider-related sales are often viewed as a short- to medium-term negative signal and may create selling pressure on the stock. Investors should monitor subsequent ownership changes and the company’s fundamentals.