Governance

David King has served as chairman of our board of directors since 2026. Mr. King has been a member of the board of directors of AA&D Holdings, LP, our parent entity, since December 2022. Since March 2026, Mr. King has served as a member of the board of directors of Kratos Defense & Security Solutions, Inc. From February 2020 to April 2022, Mr. King served as Group President of Dynetics at Leidos, Inc. Prior to the acquisition of Dynetics, Inc. by Leidos, Inc., Mr. King served as Chief Executive Officer of Dynetics, Inc. from 2015 to 2020 and as a member of its board of directors from 2009 to 2020. Earlier in his career, Mr. King also held numerous leadership positions at NASA. Mr. King holds a Bachelor of Science in Mechanical Engineering from the University of South Carolina and a Master of Business Administration degree from Florida Institute of Technology.

James William (“Trip”) Ferguson, III has served as our Chief Executive Officer since November 2025 and as a member of our board of directors since 2026. Before joining Applied, Mr. Ferguson was President, Space, Cyber and Directed Energy at AeroVironment, Inc. (Nasdaq: AVAV) from May 2025 to October 2025. From September 2022 to May 2025, Mr. Ferguson served as Chief Operations Officer of Blue Halo prior to its acquisition by AeroVironment, Inc., where he oversaw program management and ensured performance excellence across all business sectors. From November 2018 to September 2022, Mr. Ferguson was Chief Operations Officer of Dynetics, Inc., an applied science and information technology company that provides advanced, mission-critical services and solutions to the U.S. Government. Prior to joining Dynetics, Inc., Mr. Ferguson served in operational leadership roles across multidisciplinary industries with experience in defense, medical, energy, firearms, and non-profit sectors. A veteran of the United States Marine Corps, Mr. Ferguson was commissioned as an officer and attained the rank of Captain while completing three overseas tours. Mr. Ferguson holds a Bachelor of Science in Economics with merit from the United States Naval Academy and a Master of Business Administration degree from the University of Alabama in Huntsville.

Noah Blitzer has served as a member of our board of directors since our formation in October 2022. Mr. Blitzer is a Managing Director and member of the Investment Committee at Greenbriar, where he focuses on the aerospace, aviation, and defense sectors. Mr. Blitzer joined Greenbriar in 2011 and previously worked at Citi. Mr. Blitzer currently serves on the boards of Pursuit Aerospace, Sunvair Aerospace Group, and West Star Aviation and previously was responsible for investments in Alliance Ground International, Arotech, EDAC Technologies, PCX Aerosystems, STS Aviation, and Whitcraft. Mr. Blitzer holds a Bachelor of Arts in Civil Engineering and Economics from Brown University and a Master of Business Administration degree from the Wharton School at the University of Pennsylvania.

Scott Goldstein has served as a member of our board of directors since 2026. Dr. Goldstein is Senior Vice President and Fellow at Parsons Corporation, where he has led critical technology and strategy activities across its Defense and Intelligence sector since August 2023. He previously served as Chief Scientist at Anduril Industries from April 2021 to August 2023 and had a military career spanning more than 40 years in the U.S. Army and U.S. Air Force. Dr. Goldstein retired from the Air Force as a Major General, where he led space, cyber, and RDT&E activities across the U.S. Department of War and intelligence community. His industry experience ranges from VC-backed startups to Fortune 500 companies, where he has served as chief technology officer, chief strategy officer, and chief scientist. Dr. Goldstein holds B.S. and M.S. degrees in Electrical Engineering from George Mason University and a Ph.D. in Electrical Engineering from the University of Southern California. He has published more than 200 publications, holds five U.S. patents, is an IEEE Fellow, and has received both the IEEE Fred Nathanson Award and the IEEE Warren White Award. Dr. Goldstein also serves on the boards of several companies, professional associations, university advisory boards, and DoD advisory boards.

James Katzman has served as a member of our board of directors since 2026. Mr. Katzman held the position of Senior Vice President, Corporate Development for GE and GE Aerospace, a world-leading provider of jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft, from October 2021 to December 2025. Mr. Katzman is a retired Partner of Goldman Sachs, having served in that role from December 2004 to March 2015. Mr. Katzman currently sits on the Board of Directors of Brinker International, Inc., Hershey Trust Company and Milton Hershey School. He also serves on the Board of Directors of Boys & Girls Clubs of The Valley (Arizona) and on the Advisory Board of the Program for Financial Studies at Columbia Business School. Mr. Katzman formerly served as a director of The Hershey Company from 2018 to 2024. Mr. Katzman graduated from Dartmouth College and Columbia Business School, where he was a Merit Fellow.

Susan Lynch has served as a member of our board of directors since 2026. Ms. Lynch is also the chair of our Audit Committee. Since 2024, Ms. Lynch has also served on the boards of various other companies including Crane Company, Onto Innovation and Allegro MicroSystems. From August 2019 to September 2023, Ms. Lynch held the position of Senior Vice-President and Chief Financial Officer of V2X (formerly Vectrus, Inc.), a builder of innovative solutions that integrate physical and digital environments supporting the Aerospace, Defense and Aviation industries. Ms. Lynch holds a Bachelor of Arts in Accounting and Business Administration from MidAmerica Nazarene University.

Jack Morris has served as a member of our board of directors since our formation in October 2022. Mr. Morris is a Director at Greenbriar, where he focuses on the aerospace, aviation, and defense sectors. Mr. Morris joined Greenbriar in 2015 and previously worked at Barclays. Mr. Morris previously was responsible for investments in Aergen, DART Aerospace, and PCX Aerosystems. Mr. Morris holds a Bachelor of Science in Engineering in Electrical and Computer Engineering from Duke University.

Noah Roy has served as a member of our board of directors since our formation in October 2022. Mr. Roy is a Managing Partner and member of the Investment Committee at Greenbriar, where he focuses on the aerospace, aviation, and defense sectors. Mr. Roy joined Greenbriar in 2008 and previously was a Managing Director and head of the aerospace and defense sector within the Investment Banking Division of Goldman Sachs & Co. where he worked from 2003 to 2008. Mr. Roy currently serves on the boards of Pursuit Aerospace, Sunvair Aerospace Group, and West Star Aviation and previously was responsible for investments in Alliance Ground International, Aergen, Arotech, DART Aerospace, EDAC Technologies, PCX Aerosystems, STS Aviation, and Whitcraft. Mr. Roy graduated Magna Cum Laude with a Bachelor of Science from Georgetown University.