George Murnane - Aug 10, 2023 Form 4 Insider Report for Jet.AI Inc. (JTAI)

Role
INTERIM CFO, Director, 10%+ Owner
Signature
/S/ GEORGE MURNANE
Stock symbol
JTAI
Transactions as of
Aug 10, 2023
Transactions value $
$0
Form type
4
Date filed
8/23/2023, 10:24 AM
Next filing
Sep 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction JTAI COMMON STOCK, PAR VALUE $0.0001 PER SHARE Award +4 4 Aug 10, 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 JTAI STOCK OPTION (RIGHT TO BUY) Award +194K 194K Aug 10, 2023 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 194K $0.83 Direct F1
transaction JTAI STOCK OPTION (RIGHT TO BUY) Award +194K 194K Aug 10, 2023 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 194K $0.83 Direct F1
transaction JTAI STOCK OPTION (RIGHT TO BUY) Award +389K 389K Aug 10, 2023 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 389K $4.17 Direct F1, F2
transaction JTAI STOCK OPTION (RIGHT TO BUY) Award +371K 371K Aug 10, 2023 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 371K $10.42 Direct F1, F3
transaction JTAI STOCK OPTION (RIGHT TO BUY) Award +30.9K 30.9K Aug 10, 2023 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 30.9K $10.42 Direct F1, F4
transaction JTAI MERGER CONSIDERATION WARRANT (RIGHT TO BUY) Award +6 6 Aug 10, 2023 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 6 $15.00 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in connection with Oxbridge Acquisition Corp.'s business combination transaction with Jet Token Inc. in accordance with the terms of the Business Combination Agreement and Plan of Reorganization, dated February 24, 2023, as amended by Amendment No. 1 to the Business Combination Agreement, dated May 11, 2023, by and among Oxbridge Acquisition Corp., OXAC Merger Sub I, Inc., Summerlin Aviation LLC, and Jet Token Inc.
F2 356,400 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the last day of each month, subject to the Reporting Person's continued service.
F3 268,192 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the thirtieth day of each month, subject to the Reporting Person's continued service.
F4 15,473 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the sixteenth day of each month, subject to the Reporting Person's continued service.