PATRICK MCNULTY - 10 Aug 2023 Form 4 Insider Report for Jet.AI Inc. (JTAI)

Role: CHIEF OPERATING OFFICER
Signature: /S/ PATRICK MCNULTY
Issuer symbol: JTAI
Transactions as of: 10 Aug 2023
Net transactions value: $0
Form type: 4
Filing time: 23 Aug 2023, 11:31:21 UTC
Next filing: 28 Sep 2023
SEC: View on sec.gov

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	10 Aug 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		+3,095			3,095	10 Aug 2023	COMMON STOCK PAR VALUE $0.0001 PER SHARE	3,095	$10.42	Direct	F1
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+12,378			12,378	10 Aug 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	12,378	$10.42	Direct	F1, F2
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+15,473			15,473	10 Aug 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	15,473	$10.42	Direct	F1
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+30,945			30,945	10 Aug 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	30,945	$10.42	Direct	F1, F3
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+30,945			30,945	10 Aug 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	30,945	$10.42	Direct	F1, F4
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+3,961			3,961	10 Aug 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	3,961	$10.42	Direct	F1
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+7,736			7,736	10 Aug 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	7,736	$10.42	Direct	F1
transaction	JTAI	STOCK OPTION (RIGHT TO BUY)	Award		+15,473			15,473	10 Aug 2023	COMMON STOCK, PAR VALUE $0.0001 PER SHARE	15,473	$10.42	Direct	F1
transaction	JTAI	MERGER CONSIDERATION WARRANT (RIGHT TO BUY)	Award		+6			6	10 Aug 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.