PATRICK MCNULTY - 25 Jul 2024 Form 4 Insider Report for Jet.AI Inc. (JTAI)

Role
Chief Operating Officer
Signature
/s/ Patrick McNulty
Issuer symbol
JTAI
Transactions as of
25 Jul 2024
Transactions value $
$0
Form type
4
Filing time
09 Sep 2024, 20:10:18 UTC
Previous 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 Purchase +7 +175% 11 25 Jul 2024 Direct F1, F2

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 Merger Consideration Warrant (Right to Buy) Sale -6 -100% 0 25 Jul 2024 Common Stock, par value $0.0001 per share Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person disposed of six Merger Consideration Warrants (each, a "Warrant") of Jet.AI Inc. (the "Issuer") in exchange for seven shares of the Issuer's common stock, par value $0.0001 per share (or 1.0133 shares of common stock per Warrant, rounded up to the nearest whole share), pursuant to the terms of the Issuer's exchange offer (the "Exchange Offer").
F2 In the reporting person's last filed Form 4, filed on September 28, 2023, the reporting person mistakenly included 84,552 shares of the Issuer's common stock underlying options held by the reporting person ("Option Shares") in his reported aggregate holdings of common stock in Table I of the Form 4. Excluding such Option Shares, which had been correctly reported as part of the reporting person's Table II holdings of derivative securities in a Form 4 filed on August 23, 2023, the reporting person actually held four shares of common stock at the time his last Form 4 was filed. Adding the seven shares of common stock the reporting person received pursuant to the terms of the Exchange Offer, the reporting person now owns 11 shares of common stock.