Eric Brandon Robinson - Jan 12, 2024 Form 4 Insider Report for New Horizon Aircraft Ltd. (HOVR)

Role: CEO, Director, 10%+ Owner
Signature: /s/ Eric Brandon Robinson
Stock symbol: HOVR
Transactions as of: Jan 12, 2024
Transactions value $: $0
Form type: 4
Date filed: 1/22/2024, 09:54 PM
Previous filing: Dec 1, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HOVR	Class A Ordinary Shares	Award		+2.32M			2.32M	Jan 12, 2024	Held by Robinson Family Ventures Inc.	F1, F2

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	HOVR	Employee Stock Option (Right to Buy)	Award	$0	+143K		$0.00	143K	Jan 12, 2024	Class A Ordinary Shares	143K	$0.68	Direct	F3, F4

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

Explanation of Responses:

Id	Content
F1	Received in exchange for 2,745,326 shares of Robinson Aircraft Ltd. d/b/a Horizon Air ("Horizon") in connection with the January 12, 2024 amalgamation (the "Amalgamation") of Horizon and Pono Capital Three, Inc. to form New Horizon Aircraft, Ltd.
F2	The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
F3	Converted from Canadian exercise price of C$0.91 using an exchange rate of C$1.3387 = US$1.00.
F4	Received in the Amalgamation in exchange for an existing option to acquire 169,650 shares of Horizon for C$0.76 per share. The options were originally issued on August 2, 2022, with a three-year vesting period (33% vesting annually).