4//SEC Filing
MURNANE GEORGE III 4
Accession 0001493152-25-027446
CIK 0001861622other
Filed
Dec 11, 7:00 PM ET
Accepted
Dec 12, 2:32 PM ET
Size
8.1 KB
Accession
0001493152-25-027446
Insider Transaction Report
Form 4
Jet.AI Inc.JTAI
MURNANE GEORGE III
DirectorINTERIM CFO10% Owner
Transactions
- Award
Stock Option (Right to Buy)
2024-09-24+267→ 267 totalExercise: $24.35Exp: 2034-09-24→ Common Stock, par value $0.0001 per share (267 underlying)
Holdings
- 0
Common Stock, par value $0.0001 per share
Footnotes (5)
- [F1]In the reporting person's last-filed Form 4, filed on August 20, 2024, 995,754 shares of common stock, par value $0.0001 per share ("Common Stock"), of Jet.AI Inc. (the "Issuer") underlying options held by the reporting person ("Option Shares") were mistakenly included in the reporting person's 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 11 shares of Common Stock following the transactions reported in his last-filed Form 4.
- [F2]On November 12, 2024, the Issuer effected a 1-for-225 reverse stock split of its Common Stock (the "Reverse Split"). The 11 shares of Common Stock previously held by the reporting person were converted into less than one whole share as a result of the Reverse Split. In accordance with the terms of the Reverse Split, the Issuer cashed out fractional shares, resulting in the reporting person holding no shares of Common Stock following the Reverse Split.
- [F3]The exercise price, number of derivative securities, and number of underlying shares of Common Stock reported for this option reflect the Issuer's 1-for-225 Reverse Split of its Common Stock.
- [F4]At the recommendation of the Issuer's Compensation Committee, the Issuer's Board of Directors approved this option grant on December 26, 2023, subject to stockholder approval of an amendment to the omnibus incentive plan under which the option was granted. The Issuer's stockholders approved such amendment on September 24, 2024.
- [F5]This option vests monthly in equal installments beginning on January 26, 2024.
Documents
Issuer
Jet.AI Inc.
CIK 0001861622
Entity typeother
Related Parties
1- filerCIK 0001060584
Filing Metadata
- Form type
- 4
- Filed
- Dec 11, 7:00 PM ET
- Accepted
- Dec 12, 2:32 PM ET
- Size
- 8.1 KB