Form 4 for HOVR New Horizon Aircraft Ltd.

Accepted 2024-01-22 00:00:00 ET · period of report 2024-01-12 · accession 0000912282-24-000054 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
DI	2024-01-22	2024-01-12	HOVR	Robinson Eric Brandon	CEO, Dir, 10%	A - Grant	—	+2.32M	2.32M	New	—
D	2024-01-22	2024-01-12	HOVR	Robinson Eric Brandon	CEO, Dir, 10%	A - Grant	$0.00	+143.2K	143.2K	New	$0

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Class A Ordinary Shares	2024-01-12	A	A	2,317,510	—	2,317,510	I Held by Robinson Family Ventures Inc.	—	—	(F1) Received in exchange for 2,745,326 shares of Robinson Aircraft Ltd. d/b/a Horizon Air ("Horizon") in connection with the January 12, 2024 amalgamation (the "Amalgamation") of Horizon and Pono Capital Three, Inc. to form New Horizon Aircraft, Ltd. (F2) The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
2	Derivative	Employee Stock Option (Right to Buy)	2024-01-12	A	A	143,213	$0.00	143,213	D	$0.68 · 2024-01-12 to 2027-08-02	143,213 Class A Ordinary Shares	(F3) Converted from Canadian exercise price of C$0.91 using an exchange rate of C$1.3387 = US$1.00. (F4) Received in the Amalgamation in exchange for an existing option to acquire 169,650 shares of Horizon for C$0.76 per share. The options were originally issued on August 2, 2022, with a three-year vesting period (33% vesting annually).