Redwire settles derivative lawsuit with governance overhaul, $912.5K in fees

On June 8, 2026, the United States District Court for the Middle District of Florida (the “Court”) issued an order (the “Order”) for preliminary approval of a proposed settlement of the claims asserted nominally on behalf of Redwire Corporation (“Redwire” or the “Company”) against the individual defendants named in the previously disclosed shareholder derivative actions entitled Yingling v. Cannito, et al., Case No. 1:22-cv-00684-MN (D. Del.), which was transferred from the United States District Court for the District of Delaware to the Court.

the proposed settlement calls for the Company to adopt certain corporate governance reforms, as described further in the Stipulation, and pay attorneys’ fees and expenses, which the Company expects to be funded by its insurance carrier, in exchange for a full and complete release and dismissal of the derivative actions.

The Derivative Action alleges that the Settling Defendants failed to maintain adequate internal controls and made and/or permitted the issuance of materially false or misleading statements, in violation of their fiduciary duties, causing harm to Redwire.

Within thirty (30) days of issuance of an order finally approving the Settlement by the Court, Redwire’s Board shall adopt resolutions and amend committee Charters and/or By-Laws to ensure adherence to the below corporate governance Reforms, which shall remain in effect for no less than five (5) years from the date of adoption.

In light of the substantial benefits conferred by Plaintiff’s Counsel’s efforts upon Redwire and its stockholders, Redwire, acting by and through its Board, has agreed that Defendants’ insurers will pay nine hundred twelve thousand five hundred dollars and no cents ($912,500.00) in attorneys’ fees and expenses, subject to Court approval (the “Fee and Expense Amount”).

This Stipulation of Settlement, dated February 26, 2026 (“Stipulation” or “Settlement”), is made and entered, by and through undersigned counsel, and by and among the following parties: (i) plaintiff Nicholas Yingling (“Plaintiff”) in the above captioned shareholder derivative action (the “Derivative Action”), brought derivatively on behalf of Redwire Corporation (“Redwire” or the “Company”); (ii); individual defendants Peter Cannito, Les Daniels, Reggie Brothers, Joanne

Isham, Kirk Konert, Jonathan E. Baliff, John S. Bolton, and William Read (together, the “Settling Defendants”); and (iii) nominal defendant Redwire

Within thirty (30) days of issuance of an order finally approving the Settlement by the Court, Redwire’s Board shall adopt resolutions and amend committee Charters and/or By-Laws to ensure adherence to the corporate governance reforms referenced in ¶3 herein (the “Reforms”), which shall remain in effect for no less than five (5) years from the date of adoption.

In light of the substantial benefits conferred by Plaintiff’s Counsel’s efforts upon Redwire and its stockholders, Redwire, acting by and through its Board, has agreed that Defendants’ insurers will pay nine hundred twelve thousand five hundred dollars and no cents ($912,500.00) in attorneys’ fees and expenses, subject to Court approval (the “Fee and Expense Amount”).

During the pendency of the stay, Plaintiff negotiated, and Defendants agreed to produce, relevant discovery to Plaintiff. Following agreement on a mutually acceptable Confidentiality Agreement, Defendants produced over 20,000 pages of documents, which such documents had been produced in the Class Action and were relevant to the allegations made by Plaintiff in the Derivative Action and applicable defenses (the “Discovery”), which Plaintiff reviewed and analyzed in anticipation of potentially filing a second amended complaint.

On , 2026, at : .m., the Court will hold the Settlement Hearing at the Bryan Simpson United States Courthouse, 300 North Hogan Street, Jacksonville, Florida 32202. At the Settlement Hearing, the Court will consider whether the terms of the Settlement are fair, reasonable, and adequate and thus should be finally approved, whether the agreed-to Fee and Expense Amount should be approved, and whether the Derivative Action should be dismissed with prejudice pursuant to the Stipulation.