Matthew Liotta - Jun 7, 2024 Form 4 Insider Report for Volato Group, Inc. (SOAR)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Jennifer Liotta, by Power of Attorney
Stock symbol: SOAR
Transactions as of: Jun 7, 2024
Transactions value $: $0
Form type: 4
Date filed: 6/11/2024, 06:46 PM
Previous filing: Jun 10, 2024
Next filing: Dec 12, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SOAR	Common Stock	Award	$0	+370K	+7.72%	$0.00	5.17M	Jun 7, 2024	Direct	F1, F2
transaction	SOAR	Common Stock	Award	$0	+191K		$0.00	191K	Jun 7, 2024	Held by Spouse	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	SOAR	Performance-Based Restricted Stock Unit	Award	$0	+184K		$0.00	184K	Jun 7, 2024	Common Stock	184K		Direct	F4
transaction	SOAR	Employee Stock Option (right to buy)	Award	$0	+50K	+56.73%	$0.00	138K	Jun 7, 2024	Common Stock	50K	$0.75	Held by Spouse	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares represent Restricted Stock Units ("RSUs") granted on June 7, 2024. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. The RSU shall vest 25% of the shares subject to 12 months of continuous employment on the vesting commencement date and 1/48th shall vest subject to continuous employment thereafter.
F2	Mr. Liotta beneficially owns (i) 9,000 shares of Common Stock held individually, (ii) 3,466,153 shares of Common Stock held by Argand Group LLC and (iii) 1,322,118 shares of Common Stock held by PDK Capital, LLC in which Mr. Liotta has sole voting power and shares dispositive power with Ms. Jennifer Liotta.
F3	The shares represent RSU's granted on June 7, 2024. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. 1/48th of the Award shall vest when the executive completes each month of continuous service.
F4	Each Performance-Based RSU represents a contingent right to receive one share of SOAR common stock. The performance rights vest upon SOAR's common stock achieving a specified price per share.
F5	The stock option vests as to 25% of the shares subject to 12 months of continuous employment on the vesting commencement date and 1/48th shall vest subject to continuous employment thereafter.