Steve Iwamura - Feb 3, 2023 Form 4 Insider Report for AERWINS Technologies Inc. (AWIN)

Role: Director
Signature: /s/ Steve Iwamura
Stock symbol: AWIN
Transactions as of: Feb 3, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/7/2023, 05:10 AM
Previous filing: Aug 13, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AWIN	Common Stock	Options Exercise		+15K			15K	Feb 3, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AWIN	Class B Common Stock	Options Exercise		-15K	-100%		0	Feb 3, 2023	Common Stock	15K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of the issuer's common stock, acquired by the reporting person on February 3, 2023, upon the closing of a business combination (the "Merger") pursuant to an Agreement and Plan of Merger, dated as of September 7, 2022, by and among Pono Capital Corp. ("Pono"), Pono Merger Sub, Inc., AERWINS Technologies Inc. ("AERWINS"), Mehana Equity LLC, and Shuhei Komatsu, as previously disclosed in the issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 7, 2022 (the "Form 8-K"), and as set forth in Exhibit 2.1 to the Form 8-K. Upon consummation of the Merger, the issuer changed its name to "AERWINS Technologies Inc."
F2	The shares of Class B common stock, which had no expiration date, automatically converted into shares of Class A common stock at the time of the Merger on a one-for-one basis. At the effective time of the Merger, the shares of Class A common stock were redesignated as common stock, par value $0.000001 per share, of the issuer.

Content

Represents shares of the issuer's common stock, acquired by the reporting person on February 3, 2023, upon the closing of a business combination (the "Merger") pursuant to an Agreement and Plan of Merger, dated as of September 7, 2022, by and among Pono Capital Corp. ("Pono"), Pono Merger Sub, Inc., AERWINS Technologies Inc. ("AERWINS"), Mehana Equity LLC, and Shuhei Komatsu, as previously disclosed in the issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 7, 2022 (the "Form 8-K"), and as set forth in Exhibit 2.1 to the Form 8-K. Upon consummation of the Merger, the issuer changed its name to "AERWINS Technologies Inc."

The shares of Class B common stock, which had no expiration date, automatically converted into shares of Class A common stock at the time of the Merger on a one-for-one basis. At the effective time of the Merger, the shares of Class A common stock were redesignated as common stock, par value $0.000001 per share, of the issuer.