Andy Missan - Nov 15, 2023 Form 4 Insider Report for Archer Aviation Inc. (ACHR)

Role
Chief Legal Off. & Secretary
Signature
/s/ Andy Missan
Stock symbol
ACHR
Transactions as of
Nov 15, 2023
Transactions value $
-$289,639
Form type
4
Date filed
11/17/2023, 09:03 PM
Previous filing
Aug 22, 2023
Next filing
Mar 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACHR Class A Common Stock Options Exercise $0 +62.5K +25.75% $0.00 305K Nov 15, 2023 Direct
transaction ACHR Class A Common Stock Options Exercise $0 +22.6K +7.41% $0.00 328K Nov 15, 2023 Direct
transaction ACHR Class A Common Stock Tax liability -$210K -33.7K -10.29% $6.22 294K Nov 16, 2023 Direct F1, F2
transaction ACHR Class A Common Stock Sale -$79.9K -12.5K -4.25% $6.39 282K Nov 17, 2023 Direct 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
transaction ACHR Restricted Stock Units Options Exercise $0 -62.5K -12.5% $0.00 438K Nov 15, 2023 Class A Common Stock 62.5K Direct F4, F5, F6
transaction ACHR Restricted Stock Units Options Exercise $0 -22.6K -7.14% $0.00 294K Nov 15, 2023 Class A Common Stock 22.6K Direct F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents shares sold in satisfaction of the reporting person's tax liability arising as a result of the settlement of restricted stock units.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.105 to $6.405, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 This transaction was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on March 20, 2023.
F4 Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock, subject to the reporting person's continued status as a service provider to the Issuer.
F5 The award vested or vests as to: (i) 1/4 of the total award on August 15, 2022; and (ii) 1/16 of the total award quarterly thereafter on each November 15th, March 1st, May 15th, and August 15th.
F6 These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.
F7 This award vested or vests as to 1/16th of the total award quarterly on May 15, 2023 and thereafter on each of August 15th, November 15th, March 1st and May 15th.