Jet.AI Inc. 8-K

What Happened

• Jet.AI Inc. filed a Form 8‑K disclosing a press release dated May 15, 2026 announcing its financial results for the quarter ended March 31, 2026 (press release furnished as Exhibit 99.1).
• On May 18, 2026 the company executed first amendments to the amended and restated employment agreements of Michael Winston (Executive Chairman and Interim CEO) and George Murnane (Interim CFO). Those amendments extend post‑employment restrictive covenants and add a new clawback right.

Key Details

• Press release date and quarter: May 15, 2026; quarter ended March 31, 2026 (quarterly results/earnings disclosed).
• Employment amendments effective May 18, 2026 for Michael Winston and George Murnane.
• Restricted period extended from 1 year to 2 years after termination (non‑compete and non‑solicit). Company paid each executive a one‑time $1,000 bonus in exchange for agreeing to the extended restrictions.
• New clawback provision: allows recovery of incentive‑based pay (cash bonuses, synthetic equity/performance share unit payments, option forfeiture, reimbursement of other incentive compensation) if the executive breaches specified restrictive covenants; clawback applies for two years post‑separation and supplements the company’s existing clawback policy.

Why It Matters

• The 8‑K signals the company has released its latest quarterly results (earnings/revenue/quarterly results) — investors should review the May 15 press release for the specific financial metrics.
• The employment changes strengthen Jet.AI’s post‑employment protections and give the company additional levers to recover incentive pay if executives violate non‑compete or non‑solicit obligations. That may affect executive retention, incentive design and potential future dilution or cash outlays tied to performance awards.
• Except for the changes described, the underlying employment agreements remain in force. Investors seeking the full legal text can review Exhibits 10.1 and 10.2 (amendments) and Exhibit 99.1 (press release) filed with the 8‑K.