Michael Hinderberger - Mar 12, 2024 Form 4 Insider Report for XTI Aerospace, Inc. (XTIA)

Role
CEO, XTI Aircraft Company
Signature
/s/ John Griffo, Attorney-in-fact for Michael Hinderberger
Stock symbol
XTIA
Transactions as of
Mar 12, 2024
Transactions value $
$0
Form type
4
Date filed
3/14/2024, 08:44 PM

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 XTIA Option (right to buy) Award +44.6K 44.6K Mar 12, 2024 Common Stock 44.6K $19.61 Direct F1, F2, F3
transaction XTIA Option (right to buy) Award +15.3K 15.3K Mar 12, 2024 Common Stock 15.3K $19.61 Direct F1, F2, F4
transaction XTIA Option (right to buy) Award +4.46K 4.46K Mar 12, 2024 Common Stock 4.46K $19.61 Direct F1, F2, F4
transaction XTIA Option (right to buy) Award +89.3K 89.3K Mar 12, 2024 Common Stock 89.3K $18.71 Direct F1, F2, F4
transaction XTIA Option (right to buy) Award +89.3K 89.3K Mar 12, 2024 Common Stock 89.3K $18.71 Direct F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in connection with Inpixon's ("Parent") business combination transaction (the "Merger") with XTI Aircraft Company ("Legacy XTI") in accordance with the terms of the Agreement and Plan of Merger, dated as of July 24, 2023, by and among Parent, Legacy XTI and Superfly Merger Sub Inc. (as amended, the "Merger Agreement"). At the effective time of the Merger (the "Effective Time"), Parent changed its name to XTI Aerospace, Inc.
F2 Pursuant to the Merger Agreement, at the Effective Time, each option to purchase Legacy XTI common stock was assumed by Parent and converted into an option to purchase the number of shares of Parent's common stock (rounded down to the nearest whole number) that is equal to the number of shares of Legacy XTI common stock subject to the unexercised portion of such option immediately prior to the Effective Time multiplied by 0.0892598. The per share exercise price for the shares of Parent common stock issuable upon exercise of such option was set to the exercise price per share of such option in effect immediately prior to the Effective Time divided by 0.0892598 (rounded up to the nearest whole cent).
F3 17,852 of these options were exercisable as of the Effective Time. Remaining options will become exercisable based on a 4 year vesting schedule through August 2025.
F4 All of these options were exercisable as of the Effective Time.