Yanda Ma - 18 Apr 2024 Form 4 Insider Report for Airship AI Holdings, Inc. (AISP)

Role
Chief Technology Officer
Signature
By: /s/ Yanda Ma
Issuer symbol
AISP
Transactions as of
18 Apr 2024
Net transactions value
$0
Form type
4
Filing time
19 Apr 2024, 16:25:49 UTC
Previous filing
21 Dec 2023
Next filing
24 Jun 2024
SEC
View on sec.gov

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 AISP Options Award $0 +50,000 $0.000000 50,000 18 Apr 2024 Common Stock 50,000 $7.61 Direct F3
holding AISP Options 797,698 18 Apr 2024 Common Stock 797,698 $0.1200 Direct F1
holding AISP Earnout Rights 177,266 18 Apr 2024 Common Stock 177,266 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents options to purchase shares of common stock of the Issuer received on December 21, 2023, pursuant to that certain Merger Agreement, dated as of June 27, 2023 (as amended on September 22, 2023 and as may be further amended and/or restated from time to time, the "Merger Agreement"), by and among Airship AI Holdings, Inc., a Delaware corporation (the "Issuer") (formerly known as BYTE Acquisition Corp., a Cayman Island exempted company limited by shares, prior to its domestication as a Delaware corporation), BYTE Merger Sub, Inc., a Washington corporation and a direct, wholly-owned subsidiary of the Issuer, and Airship AI, Inc., a Washington company (formerly known as Airship AI Holdings, Inc., "Airship AI"). The Reporting Person received the reported options upon the conversion of options to purchase shares of common stock of Airship AI at the Conversion Ratio, as defined in the Merger Agreement, as of the Effective Time of the Merger.
F2 Pursuant to earnout provisions in the Merger Agreement and subject to the Reporting Person's continued service to the Issuer, the holder of such Earnout Rights is entitled to receive shares of common stock of the Issuer upon the occurrence of certain operating performance and share price performance milestones during the applicable earnout periods set forth in the Merger Agreement.
F3 Options granted are subject to a four (4) year vesting period, vesting quarterly starting July 18, 2024.