Brian Frederick Merker - Feb 3, 2025 Form 4 Insider Report for New Horizon Aircraft Ltd. (HOVR)

Role: Chief Financial Officer
Signature: /s/ Brian Frederick Merker
Stock symbol: HOVR
Transactions as of: Feb 3, 2025
Transactions value $: $0
Form type: 4
Date filed: 2/5/2025, 08:25 PM
Previous filing: Jan 23, 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	HOVR	Employee stock option (right to buy)	Award	$0	+344K		$0.00	344K	Feb 3, 2025	Class A Ordinary Shares without par value	344K	$0.61	Direct	F1
transaction	HOVR	Performance Stock Units	Award	$0	+86K		$0.00	86K	Feb 3, 2025	Class A Ordinary Shares without par value	86K		Direct	F2

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

Explanation of Responses:

Id	Content
F1	The option will become exercisable in three equal installments beginning on 02/03/2026.
F2	Each performance stock unit represents a contingent right to receive one Class A ordinary share, without par value (each, a "Class A Ordinary Share"). The performance stock units vest in full on the date the Company achieves 100% Total Shareholder Return, defined as the percentage change in the value of the Class A Ordinary Shares over a specified period, calculated as the quotient of (i) the difference between the current share price and the share price on February 3, 2025 (the "Award Date"), divided by (ii) the share price on the Award Date.

Content

The option will become exercisable in three equal installments beginning on 02/03/2026.

Each performance stock unit represents a contingent right to receive one Class A ordinary share, without par value (each, a "Class A Ordinary Share"). The performance stock units vest in full on the date the Company achieves 100% Total Shareholder Return, defined as the percentage change in the value of the Class A Ordinary Shares over a specified period, calculated as the quotient of (i) the difference between the current share price and the share price on February 3, 2025 (the "Award Date"), divided by (ii) the share price on the Award Date.