Stewart Murray Lee - 12 Jan 2024 Form 4 Insider Report for New Horizon Aircraft Ltd. (HOVR)

Role: Head of People & Strategy
Signature: /s/ Stewart Murray Lee
Issuer symbol: HOVR
Transactions as of: 12 Jan 2024
Net transactions value: $0
Form type: 4
Filing time: 24 Jan 2024, 11:13:55 UTC
Next filing: 10 Jul 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HOVR	Class A Ordinary Shares	Award		+250,042			250,042	12 Jan 2024	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	HOVR	Employee Stock Option (Right to Buy)	Award	$0	+35,455		$0.000000	35,455	12 Jan 2024	Class A Ordinary Shares	35,455	$0.6797	Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Received in exchange for 136,200 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	Converted from Canadian exercise price of C$0.91 using an exchange rate of C$1.3387 = US$1.00.
F3	Received in the Amalgamation in exchange for an existing option to acquire 42,000 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).