Jason Michael O'Neill - Jan 12, 2024 Form 4 Insider Report for New Horizon Aircraft Ltd. (HOVR)

Role
Chief Operating Officer, Director
Signature
/s/ Jason Michael O'Neill
Stock symbol
HOVR
Transactions as of
Jan 12, 2024
Transactions value $
$0
Form type
4
Date filed
2/6/2025, 07:58 AM
Next filing
Jul 10, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HOVR Class A Ordinary Shares without par value Award +236K 236K 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 +146K $0.00 146K Jan 12, 2024 Class A Ordinary Shares without par value 146K $0.68 Direct F2, F3
transaction HOVR Employee stock option (right to buy) Award $0 +296K $0.00 296K Feb 3, 2025 Class A Ordinary Shares without par value 296K $0.61 Direct F4
transaction HOVR Performance Stock Units Award $0 +74K $0.00 74K Feb 3, 2025 Class A Ordinary Shares without par value 74K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in connection with the exchange of 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 options to acquire 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 1/3% vesting annually).
F4 The option will become exercisable in three equal installments beginning on 02/03/2026.
F5 Each performance stock unit represents a contingent right to receive one Class A ordinary share, without par value (each, a "Class A Ordinary Share"). The performance stock units vest in full on the date the Company achieves 100% Total Shareholder Return, defined as the percentage change in the value of the Class A Ordinary Shares over a specified period, calculated as the quotient of (i) the difference between the current share price and the share price on February 3, 2025 (the "Award Date"), divided by (ii) the share price on the Award Date.