New York, Feb 11, 2026, 07:31 (ET) — Premarket
- BigBear.ai shares fell about 6% in premarket trading, extending a choppy run for the AI contractor.
- U.S. stock futures were muted ahead of the delayed January jobs report due at 8:30 a.m. ET.
- Investors are also tracking a Feb. 18 shareholder meeting on a proposal to double BigBear.ai’s authorized shares.
BigBear.ai Holdings, Inc. (BBAI) shares fell about 6% in premarket trading on Wednesday, sliding to $4.56.
The move matters because the stock has become a high-beta wager on risk appetite, and Wednesday’s opening tone may hinge on U.S. January employment data due before the bell.
It also lands as BigBear.ai pushes shareholders toward a vote that would give it room to issue more stock — useful for funding plans, but a red flag for investors who worry about dilution, or their slice of the company shrinking.
In a Jan. 22 filing, BigBear.ai said it would reconvene its special meeting on Feb. 18 to vote on a proposed charter amendment to increase authorized common shares to 1 billion from 500 million. Authorized shares are the maximum a company can issue under its charter. (BigBear.ai Holdings, Inc.)
The company said it kept adjourning the meeting to “solicit additional proxies” and that online voting would stay open until 11:59 p.m. ET on Feb. 17. Its board backed the proposal, saying the added stock would give it flexibility for financing, retention awards, a corporate partner and other opportunities. (BigBear.ai Holdings, Inc.)
Chief Financial Officer Sean Ricker told shareholders in separate proxy materials that the company was “97% of the way” to the required votes as of Jan. 15, and that approval would not mean “immediate” dilution because it would not automatically trigger new share issuance. He also said proxy advisers ISS and Glass Lewis recommended a “for” vote. (BigBear.ai Holdings, Inc.)
The most recent insider filing showed CEO Kevin McAleenan disposed of 48,691 shares in mid-January at $6.26 to cover tax withholding tied to vesting restricted stock units, according to a Form 4 filed Feb. 4. (BigBear.ai Holdings, Inc.)
Other AI-linked names were also soft before the open. SoundHound AI fell about 6% and C3.ai eased about 1.5%, while Palantir slipped roughly 2% and Nvidia was down less than 1%. The tech-heavy Invesco QQQ ETF was off about 0.5%.
In the wider market, U.S. stock index futures were subdued as investors waited for the delayed January employment report, with traders also eyeing Friday’s inflation data. (Reuters)
BigBear.ai sells AI software and analytics tools to government and commercial customers, with a business that can swing on the timing of large contract work and awards.
But the near-term risk for shareholders sits in the proxy fight itself. If the share increase passes, investors may price in future equity issuance; if it fails, BigBear.ai has already told holders it has limited headroom under the current authorization, which could tighten its options for financing and compensation.
Traders will watch the 8:30 a.m. ET jobs report for the day’s opening tone, then the Feb. 17 voting cutoff and the Feb. 18 reconvened shareholder meeting for the next company-specific catalyst.
