Sec Form 4 Filing - Red Oak Partners, LLC @ Global Crossing Airlines Group Inc. - 2024-12-19

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Red Oak Partners, LLC
2. Issuer Name and Ticker or Trading Symbol
Global Crossing Airlines Group Inc. [ JETMF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
40 SE 5TH STREET, SUITE 502
3. Date of Earliest Transaction (MM/DD/YY)
12/19/2024
(Street)
BOCA RATON, FL33432
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 12/19/2024 S( 5 ) 775,836 ( 4 ) D $ 0.46 5,013,221 I By The Red Oak Fund, LP directly ( 1 ) ( 3 )
Common Stock 12/19/2024 S( 5 ) 386,664 ( 4 ) D $ 0.46 2,612,446 I By The Red Oak Long Fund, L.P. directly ( 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiratio n Date Title Amount or Number of Shares
Class B Non-Voting Common Stock $ 0 ( 6 ) ( 6 ) Common Stock 5,024,089 10,868 I By The Red Oak Fund, LP directly ( 1 ) ( 3 )
Class B Non-Voting Common Stock $ 0 ( 6 ) ( 6 ) Common Stock 2,618,078 5,632 I By The Red Oak Long Fund, L.P. directly ( 2 ) ( 3 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Red Oak Partners, LLC
40 SE 5TH STREET
SUITE 502
BOCA RATON, FL33432
X
Signatures
David Sandberg 12/23/2024
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Red Oak Partners, LLC ("ROP") serves as the general partner of The Red Oak Fund, LP, a Delaware limited partnership (the "Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Fund's portfolio manager.
( 2 )ROP serves as the general partner of The Red Oak Long Fund, LP, a Delaware limited partnership (the "Long Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Long Fund's portfolio manager.
( 3 )Each Reporting Person disclaims beneficial ownership of all securities reported herein, except to the extent of their pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the shares for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.
( 4 )Shares sold pursuant to a private transaction.
( 5 )There were sales by the Fund and the Long Fund (collectively, the "Funds") of an aggregate of 1,162,500 shares on December 19, 2024 at $0.46 per share, inclusive, that have been matched against purchases on July 16, 2024 by the Funds to the extent of an aggregate of 1,162,500 shares at a price range between $0.435 and $0.45, inclusive. The aforementioned purchase price constitutes the lowest purchase price paid by the reporting person matched against the highest sale price that the reporting person received for the sale of shares on the date hereof. The reporting person has agreed to pay Global Crossing Airlines Group Inc. $11,925, representing the full amount of the profit realized in connection with the short-swing transaction.
( 6 )Class B shares are immediately exercisable and do not expire.

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