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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30 , 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Pennsylvania ( State or other jurisdiction of incorporation ) INNOVATIVE SOLUTIONS AND SUPPORT , INC . ( Exact name of registrant as specified in its charter ) 720 Pennsylvania Drive , Exton , Pennsylvania ( Address of principal executive offices ) to Commission File No. 000-31157 Title of each class : Common Stock par value $ .001 per share ( 610 ) 646-9800 ( Registrant's telephone number , including area code ) Large accelerated filer Non - accelerated filer Securities registered pursuant to Section 12 ( b ) of the Act : Trading symbol ( s ) ISSC 23-2507402 ( IRS Employer Identification No. ) 19341 ( Zip Code ) Name of each exchange on which registered NASDAQ Stock Market , LLC Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes No > Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( § 232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " smaller reporting company " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Accelerated filer Smaller reporting company Emerging growth company If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . Yes No The aggregate market value of the registrant's common stock held by non - affiliates of the registrant as of March 31 , 2021 ( the last business day of the registrant's most recently completed second quarter ) was approximately $ 83.4 million ( based on the closing sale price of the registrant's common stock on the NASDAQ Stock Market on such date ) . Shares of common stock held by each executive officer and director and by each person who owns 10 % or more of the registrant's outstanding common stock have been excluded since such persons may be deemed affiliates . This determination of affiliate status is not necessarily a conclusive determination for other purposes . As of November 30 , 2021 , there were 17,246,372 outstanding shares of the registrant's common stock . Documents Incorporated by Reference Portions of the registrant's Proxy Statement for the 2022 Annual Meeting of Shareholders to be filed prior to January 28 , 2021 are incorporated by reference into Part III of this Report . Such Proxy Statement , except for the parts therein which have been specifically incorporated by reference , shall not be deemed " filed " for the purposes of this Report on Form 10 - K .