Eric Brian Robinson - Jan 12, 2024 Form 3 Insider Report for New Horizon Aircraft Ltd. (HOVR)

Role
Other*, 10%+ Owner
Signature
/s/ Eric Brian Robinson
Stock symbol
HOVR
Transactions as of
Jan 12, 2024
Transactions value $
$0
Form type
3
Date filed
3/5/2024, 10:03 AM
Previous filing
Dec 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding HOVR Class A Ordinary Shares 23.2K Jan 12, 2024 Direct F1
holding HOVR Class A Ordinary Shares 2.32M Jan 12, 2024 Held by Robinson Family Ventures Inc. F2, F3

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
holding HOVR Employee Stock Option (Right to Buy) Jan 12, 2024 Class A Ordinary Shares 143K $0.68 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in exchange for 27,467 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 Received in exchange for 2,745,326 shares of Horizon in connection with the Amalgamation.
F3 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.
F4 Received in the Amalgamation in exchange for an existing option to acquire 138,600 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).
F5 Converted from Canadian exercise price of C$0.91 using an exchange rate of C$1.3387 = US$1.00.

Remarks:

The Reporting Person was originally included as a named executive officer of the Issuer as of the January 12, 2024 Amalgamation closing date; however, on January 13, 2024, the position was determined not constitute a Section 16 officer position.