Mark E. Scott - 07 Jan 2025 Form 4 Insider Report for Airship AI Holdings, Inc. (AISP)

Role: Chief Financial Officer
Signature: By: /s/ Mark E. Scott
Issuer symbol: AISP
Transactions as of: 07 Jan 2025
Net transactions value: $0
Form type: 4
Filing time: 08 Jan 2025, 16:30:20 UTC
Previous filing: 02 Jan 2025
Next filing: 05 Mar 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AISP	Common Stock	Other		+4,884			4,884	07 Jan 2025	See footnote	F2, 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	AISP	Earnout Rights	Other		-4,884	-25%		14,650	07 Jan 2025	Common Stock	4,884		See footnote	F2, F3
holding	AISP	Options						43,952	07 Jan 2025	Common Stock	43,952	$0.5700	See footnote	F1, F2
holding	AISP	Options						21,952	07 Jan 2025	Common Stock	21,952	$1.64	See footnote	F1, F2
holding	AISP	Options						25,000	07 Jan 2025	Common Stock	25,000	$1.49	See footnote	F2
holding	AISP	Options						100,000	07 Jan 2025	Common Stock	100,000	$2.86	See footnote	F2, F4

* 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	Held by various entities controlled by the Reporting Person. The Reporting Person has voting and dispositive power over the securities held by such entities. The Reporting Person disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest therein.
F3	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.
F4	Options vest quarterly over 4 years.