68,958 equity rights reported by Madison Air (MAIR) officer

Rhea-AI Filing Summary

Madison Air Solutions Corp executive Moir Graeme filed an initial ownership report for equity-based awards linked to the company’s Class A common stock. The filing lists 68,958 equity appreciation rights units (EAR Units), each representing the right to receive one Class A share upon vesting.

The EAR Units vest only if the reporting person continues serving through each applicable vesting date, and the reported amount reflects the impact of the company’s initial public offering.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Moir Graeme

Role See Remarks

Type	Security	Shares	Price	Value
holding	Class A common stock	--	--	--

Holdings After Transaction: Class A common stock — 68,958 shares (Direct)

Footnotes (1)

1. [object Object]

Key Figures

Equity appreciation rights units: 68,958 units Shares underlying EAR Units: 68,958 shares

2 metrics

Equity appreciation rights units 68,958 units Each unit represents right to one Class A share upon vesting

Shares underlying EAR Units 68,958 shares Class A common stock issuable on vesting of EAR Units

Key Terms

equity appreciation rights units, vesting, initial public offering

3 terms

equity appreciation rights units financial

"Includes 68,958 equity appreciation rights units ("EAR Units")."

A bundle of rights that gives the holder a claim to the increase in a company’s share price over a set period, payable in cash, shares, or a mix of both. Think of it like a ticket that pays out only if the stock goes up: it rewards recipients for generating share-price gains but can dilute existing shareholders if settled in stock or reduce company cash if paid in cash, so investors watch these grants for their impact on ownership and earnings.

vesting financial

"represents the right to receive one share ... upon vesting"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

initial public offering financial

"The reported amount gives effect to the closing of the Issuer's initial public offering."

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

OMB APPROVAL

OMB Number:			3235-0104
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hours per response:			0.5

1. Name and Address of Reporting Person^*

Moir Graeme

(Last) (First) (Middle)

C/O MADISON AIR SOLUTIONS CORPORATION

444 WEST LAKE STREET, SUITE 4460

(Street)

CHICAGO ILLINOIS 60606

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/16/2026

3. Issuer Name and Ticker or Trading Symbol
Madison Air Solutions Corp [ MAIR ]

3a. Foreign Trading Symbol

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

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

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A common stock	68,958(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 68,958 equity appreciation rights units ("EAR Units"). Each EAR Unit represents the right to receive one share of the Issuer's Class A common stock upon vesting, subject to the reporting person's continued service through the applicable vesting date. The reported amount gives effect to the closing of the Issuer's initial public offering.

Remarks:

Vice President of Strategic Sourcing Exhibit 24.1 Power of Attorney

	/s/ John Lavorato, by Power of Attorney	04/16/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does Moir Graeme’s Form 3 for Madison Air Solutions (MAIR) show?

The Form 3 shows Moir Graeme’s initial beneficial ownership of 68,958 equity appreciation rights units. Each unit can convert into one Class A common share upon vesting, and the total reflects adjustments tied to Madison Air Solutions’ initial public offering.

How many Madison Air Solutions (MAIR) equity units does Moir Graeme report?

Moir Graeme reports 68,958 equity appreciation rights units linked to Madison Air Solutions’ Class A common stock. Each EAR Unit represents a right to receive one share, contingent on meeting service-based vesting conditions following the company’s initial public offering.

What are equity appreciation rights units (EAR Units) in MAIR’s Form 3?

Equity appreciation rights units are stock-based awards that entitle the holder to receive one Class A share upon vesting. In this filing, 68,958 EAR Units are reported, all subject to continued service through each applicable vesting date after the company’s initial public offering.

Are Moir Graeme’s Madison Air (MAIR) equity rights fully vested?

The equity appreciation rights units reported are not automatically fully vested. Each of the 68,958 EAR Units converts into one Class A share only if Moir Graeme satisfies continued service requirements through the relevant vesting dates specified in the award terms.

How is Madison Air’s IPO referenced in Moir Graeme’s Form 3?

The Form 3 states that the reported 68,958 equity appreciation rights units give effect to the closing of Madison Air Solutions’ initial public offering. This means the number disclosed reflects adjustments associated with the IPO’s completion and current post-offering structure.