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

Role: CHIEF OPERATING OFFICER
Signature: /S/ PATRICK MCNULTY
Stock symbol: JTAI
Transactions as of: Aug 10, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/23/2023, 11:31 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		+3.1K			3.1K	Aug 10, 2023	COMMON STOCK PAR VALUE $0.0001 PER SHARE	3.1K	$10.42	Direct	F1
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+12.4K			12.4K	Aug 10, 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	12.4K	$10.42	Direct	F1, F2
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+15.5K			15.5K	Aug 10, 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	15.5K	$10.42	Direct	F1
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, 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	STOCK OPTION (RIGHT TO BUY)	Award		+3.96K			3.96K	Aug 10, 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	3.96K	$10.42	Direct	F1
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+7.74K			7.74K	Aug 10, 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	7.74K	$10.42	Direct	F1
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+15.5K			15.5K	Aug 10, 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	15.5K	$10.42	Direct	F1
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	8,940 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the first day of each month, subject to the Reporting Person's continued service.
F3	18,911 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the first day of each month, subject to the Reporting Person's continued service.
F4	17,192 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the fifth day of each month, subject to the Reporting Person's continued service.