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

Role
Head of People & Strategy
Signature
/s/ Stewart Murray Lee
Stock symbol
HOVR
Transactions as of
Jan 12, 2024
Transactions value $
$0
Form type
4
Date filed
1/24/2024, 11:13 AM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HOVR Class A Ordinary Shares Award +250K 250K Jan 12, 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 +35.5K $0.00 35.5K Jan 12, 2024 Class A Ordinary Shares 35.5K $0.68 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).