{"url_path":"/sec/jetbf/10-k/2026/item-12","section_key":"item-12","section_title":"Item 12 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.","topic":"sec","document":{"doc_type":"10-K/A","doc_date":"2026-06-10","source_url":"https://www.sec.gov/Archives/edgar/data/1846084/0001193125-26-265739-index.html","accession_number":"0001193125-26-265739","cik":"0001846084","ticker":"JETBF","issuer_name":"Global Crossing Airlines Group Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1846084/0001193125-26-265739-index.html","primary_entity_key":"0001846084","primary_entity_name":"Global Crossing Airlines Group Inc."},"word_count":1119,"has_tables":true,"body_markdown":"ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.\n\n \n\nPrincipal Stockholders and Beneficial Ownership of Common Stock\n\n \n\nThe following table sets forth information known to the Company regarding the beneficial ownership of common stock owned by:\n\n•\neach person known to the Company to be the beneficial owner of more than 5% of outstanding Company common stock.\n\n•\neach of the Company’s executive officers and directors; and\n\n•\nall executive officers and directors of the Company as a group.\n\nBeneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security, including options and warrants that are currently exercisable or exercisable within 60 days. Company stock issuable upon exercise of options and warrants currently exercisable within 60 days are deemed outstanding solely for purposes of calculating the percentage of total voting power of the beneficial owner thereof.\n\nThe beneficial ownership of Company common stock is based on 51,438,699 shares of common stock, 5,537,313 shares of Class A Non-Voting Common Stock and 9,089,107 shares of Class B Non-Voting Common Stock outstanding as of February 16, 2026. Such beneficial ownership reflects security ownership known to the Company.\n\nAddresses for the beneficial owners are set forth in the footnotes to the table.\n\n \n\n65\n\n \n\n \n\n \n\nCommon Stock\n\n \n\n \n\nClass A Non-Voting Common Stock(1)\n\n \n\n \n\nClass B Non-Voting Common Stock(1)\n\n \n\nName and Address of Beneficial Owner(2)\n\n \n\nShares\n\n \n\n \n\n%\n\n \n\n \n\nShares\n\n \n\n \n\n%\n\n \n\n \n\nShares\n\n \n\n \n\n%\n\n \n\nRonald T. Bevans, Jr\n\n \n\n \n\n2,960,715\n\n \n\n \n\n \n\n5.76\n\n%\n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nGalloway Capital Partners, LLC(3)\n\n \n\n \n\n4,082,000\n\n \n\n \n\n \n\n7.94\n\n%\n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nRed Oak Partners, LLC (4)\n\n \n\n \n\n9,244,147\n\n \n\n \n\n \n\n17.97\n\n%\n\n \n\n \n\n4,435,333\n\n \n\n \n\n \n\n80.10\n\n%\n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nEdward J. Wegel (5)\n\n \n\n \n\n4,432,276\n\n \n\n \n\n \n\n8.62\n\n%\n\n \n\n \n\n—\n\n \n\n \n\n \n\n-\n\n \n\n \n\n \n\n11,900\n\n \n\n \n\n*\n\n \n\nNamed Executive Officers and Directors\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\nRyan Goepel (6)\n\n \n\n \n\n1,969,724\n\n \n\n \n\n \n\n3.83\n\n%\n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nDeborah Robinson (7)\n\n \n\n \n\n431,494\n\n \n\n \n\n \n\n0.84\n\n%\n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nAlan Bird (8)\n\n \n\n \n\n416,167\n\n \n\n \n\n*\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n69,000\n\n \n\n \n\n*\n\n \n\nLyonIX Aviation, LLC (Chris Jamroz) (9)\n\n \n\n \n\n2,060,520\n\n \n\n \n\n \n\n4.01\n\n%\n\n \n\n \n\n1,101,980\n\n \n\n \n\n \n\n19.90\n\n%\n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nT. Allan McArtor (10)\n\n \n\n \n\n183,333\n\n \n\n \n\n*\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nAndrew Axelrod (11)\n\n \n\n \n\n5,195,451\n\n \n\n \n\n \n\n10.10\n\n%\n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nCordia Harrington(12)\n\n \n\n \n\n300,000\n\n \n\n \n\n*\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\n \n\n \n\n—\n\n \n\nAll executive officers and directors as a group (7 persons)\n\n \n\n \n\n10,556,689\n\n \n\n \n\n \n\n22.72\n\n%\n\n \n\n \n\n1,101,980\n\n \n\n \n\n \n\n19.90\n\n%\n\n \n\n \n\n69,000\n\n \n\n \n\n*\n\n \n\n \n\n* Less than 1 percent.\n\n \n\n(1) The Class A Non-Voting Common Stock is convertible into common stock on a 1-for-1 basis so long as such conversion does not result in such holder beneficially owning more than the Maximum Percentage. Subject to the Voting Limitation for Non-Citizens set forth in the Corporation’s Bylaws, as amended, each share of Class B Non-Voting Common Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into one share of fully paid and non-assessable Common Stock.\n\n \n\n(2) Unless otherwise noted, the business address of each of the persons and entities listed above is Bldg. 5A, 4th Floor, 4200 NW 36th Street, Miami, FL 33166.\n\n \n\n(3) Represents 4,082,000 shares of Common Stock. Bruce Galloway, the managing member of Galloway Capital Partners, LLC, may be deemed to have voting and dispositive power with respect to these shares of Common Stock of the Company. The address for Galloway Capital Partners, LLC is 650 NE 2nd Avenue, 3007, Miami, FL 33132\n\n \n\n(4) The named party is the holder of (i) 9,244,147 shares of Common Stock; (ii) 4,435,333 shares of Class A Non-Voting Common Stock which Class A Non-Voting Common Stock may not be converted by the holder to the extent that, after giving effect to such conversion, the holder and its affiliates collectively would beneficially own in excess of 4.99% of the issued and outstanding common stock; and (iii) warrants to purchase 6,037,313 shares of Common Stock, which warrants may not be exercised by the holder to the extent that, after giving effect to such exercise, the holder and its affiliates collectively would beneficially own in excess of 4.99% of the issued and outstanding common stock. The shares of Common Stock, Class A Non-Voting Common Stock and warrants are beneficially held by Red Oak Partners, LLC (“Red Oak”) on behalf of The Red Oak Fund, L.P. and The Red Oak Long Fund, L.P. Each of Red Oak and David Sandberg, the managing member of Red Oak, may be deemed to have shared voting and dispositive power with respect to these shares of common stock of the Company. The address for Red Oak Partners, LLC is 40 SE 5th Street, Boca Raton, FL 33432.\n\n \n\n(5) Represents 4,432,276 shares of Common Stock, including 508,750 shares of Common stock held by Mr. Wegel’s spouse, and 11,900 shares of Class B Non-Voting Common Stock.\n\n \n\n(6) Represents 1,549,724 shares of Common Stock, 83,334 restricted share units redeemable for 83,334 shares of Common Stock within 60 days of the date above, 50,000 restricted share units redeemable for 50,000 shares of Common Stock within 60 days of the date of the above and 286,666 restricted share units redeemable for 286,666 shares of Common Stock within 60 days of the date of the above.\n\n \n\n(7) Represents 431,494 shares of Common Stock.\n\n \n\n(8) Represents 416,667 shares of Common Stock and 69,000 shares of Class B Non-Voting Common Stock.\n\n \n\n(9) The named party is the holder of (i) 2,060,520 shares of Common Stock; (ii) 1,101,980 shares of Class A Non-Voting Common Stock which Class A Non-Voting Common Stock may not be converted by the holder to the extent that, after giving effect to such conversion, the holder would beneficially own in excess of 4.99% of the issued and outstanding common stock; and (iii) warrants to\n\n66\n\n \n\npurchase 1,500,000 shares of Common Stock, which warrants may not be exercised by the holder to the extent that, after giving effect to such exercise, the holder would beneficially own in excess of 4.99% of the issued and outstanding common stock. Each of LyonIX Aviation, LLC (“LyonIX”) and Kryzsztof (Chris) Jamroz, the sole owner of LyonIX, may be deemed to have shared voting and dispositive power with respect to these shares of common stock of the Company. The address for LyonIX Aviation, LLC is 510 Seagate Drive, Delray Beach, FL 33483. Mr. Jamroz is the Executive Chairman of the Board of GlobalX.\n\n \n\n(10) Represents 183,333 shares of common stock.\n\n \n\n(11) Represents 5,195,451 warrants to purchase 5,195,451 shares of Common Stock. The warrants are beneficially held by Axar Capital Management L.P. on behalf of certain funds and/or managed accounts. The address for Axar Capital Management L.P. is 402 West 13th Street, Floor 5, New York, NY 10014.\n\n \n\n(12) Represents 300,000 shares of Common Stock."}