BLBD · Blue Bird Corporation

The filing details the appointment of Steve Girardin as a Class III Director of Blue Bird Corporation, effective March 30, 2026, with a term expiring at the 2029 annual meeting. This appointment is tied to the closing of the Micro Bird acquisition and a Board Election Agreement with Groupe Autobus Girardin Ltee (GAG), which requires GAG to vote its shares in line with Board recommendations. Steve Girardin was also appointed to the Nominating Committee on April 29, 2026. The filing further discloses significant related party transactions: Superbird Capital Inc., owned by the Girardin family, generated approximately $205 million and $146 million in gross revenues for Blue Bird in fiscal 2025 and the first half of fiscal 2026, respectively, while Blue Bird paid Superbird $3.7 million and $702,000 for parts and warranty services. Additionally, Valiant Real Estate entities, also owned by the Girardins, received $3 million and $2 million in rent from Micro Bird in the same periods. These transactions are arms-length and approved by the Audit Committee. The Micro Bird acquisition itself involved GAG receiving cash and stock consideration. These disclosures highlight the ongoing financial interconnections between Blue Bird and the Girardin family, which investors should monitor for potential conflicts of interest.