David H. Rowe Form 4 BigBear.ai / DAVID H. ROWE ownership change

SEC 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).

1. Name and Address of Reporting Person^*

BBAI Ultimate Holdings, LLC

(Last) (First) (Middle)

C/O BIGBEAR AI HOLDINGS, INC.

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BigBear.ai Holdings, Inc. [ BBAI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2024

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/02/2024		A(1)		2,144,073	A	$1.3439	144,110,438	I	See footnotes(2)(3)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

BBAI Ultimate Holdings, LLC

(Last) (First) (Middle)

C/O BIGBEAR AI HOLDINGS, INC.

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

AE INDUSTRIAL PARTNERS FUND II GP, LP

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

GREENE MICHAEL ROBERT

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

ROWE DAVID H.

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

AE INDUSTRIAL PARTNERS FUND II-B, LP

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

AE INDUSTRIAL PARTNERS FUND II, LP

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

AE INDUSTRIAL PARTNERS FUND II-A, LP

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

AEROEQUITY GP, LLC

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

AE BBAI AGGREGATOR, LP

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

PANGIAM ULTIMATE HOLDINGS, LLC

(Last) (First) (Middle)

C/O AE INDUSTRIAL PARTNERS, LP

6700 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

Explanation of Responses:

1. The reported securities were received as a purchase price adjustment pursuant to the Agreement and Plan of Mergers, dated as of November 4, 2023, by and between the Issuer and the parties identified on the signature pages thereto.

2. Voting and dispositive power with respect to the shares of common stock held of record by BBAI Ultimate Holdings, LLC, Pangiam Ultimate Holdings, LLC and AE BBAI Aggregator, LP is exercised by Michael R. Greene and David H. Rowe, the managing members and control persons of AeroEquity GP, LLC, which is the general partner of AE Industrial Partners Fund II GP, LP ("AE Fund II GP"). AE Industrial Partners Fund II-B, LP ("AE Fund II-B"), AE Industrial Partners Fund II, LP ("AE Fund II LP") and AE Industrial Partners Fund II-A, LP ("AE Fund II-A" and together with AE Fund II-B and AE Fund II LP, the "AE Funds") are the controlling equityholders of BBAI Ultimate Holdings, LLC, Pangiam Ultimate Holdings, LLC and AE BBAI Aggregator, LP. AE Fund II GP is the general partner of each of the AE Funds. AE BBRED GP, LLC is the general partner of AE BBAI Aggregator, LP. Each of the foregoing is an "AE Party" and collectively, the "AE Parties."

3. Each of the foregoing entities and individuals disclaims beneficial ownership of the shares reported hereby, except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

Remarks:

Kirk Michael Konert and Jeffrey Hart serve as Partners of AE Industrial Partners, LP. AE Industrial Partners and each AE Party may, therefore, be considered a director of the issuer by deputization.

	/s/ Sean Ricker, by Power of Attorney	07/05/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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