Robinson Eric Brandon 4
4 · New Horizon Aircraft Ltd. · Filed Feb 12, 2026
Research Summary
AI-generated summary of this filing
New Horizon Aircraft (HOVR) CEO Robinson Eric Brandon Receives Award
What Happened Robinson Eric Brandon, the Chief Executive Officer of New Horizon Aircraft Ltd. (HOVR), was granted 500,000 performance share units (PSUs) on February 10, 2026. The Form 4 reports the award as a derivative grant at $0.00 per unit (total reported cash value $0). This is a compensation award (not an open-market purchase or sale) and represents a contingent right to receive common shares only if performance and vesting conditions are met.
Key Details
- Transaction date: 2026-02-10; Form 4 filed 2026-02-12 (timely filing).
- Instrument: 500,000 performance share units (PSUs) granted; reported price $0.00 (derivative award).
- Shares owned after transaction: Not disclosed in this filing.
- Footnotes / vesting conditions:
- F1–F2: PSUs convert to common shares only if performance targets are met: 50% vest based on company market capitalization tied to a $250M target (with partial vesting at 80% of target and straight-line vesting up to 100%); the other 50% vest if the company’s total shareholder return outperforms the Russell Microcap Index over any two-year period starting on the grant date.
- No indication of tax withholding, 10b5-1 plan, or late filing penalties in this Form 4.
Context PSUs are performance-based equity awards and do not represent immediate ownership of common shares; they only become actual shares if specified performance/vesting conditions are satisfied. Such grants are typically part of executive compensation and should be viewed as contingent incentives rather than direct bullish purchases.
Insider Transaction Report
- Award
Performance Share Units
[F1][F2]2026-02-10+500,000→ 500,000 totalExp: 2029-12-15→ Class A Ordinary Shares without par value (500,000 underlying)
Footnotes (2)
- [F1]Each performance share unit ("PSU") represents a contingent right to receive one Class A ordinary share, without par value (the "Common Shares"), of New Horizon Aircraft Ltd. (the "Company"). The PSUs vest as follows: (i) fifty percent (50%) of the PSUs shall vest based on the Company's market capitalization, such that: (A) 80% of such fifty percent (50%) portion shall vest upon the Company achieving a market capitalization equal to 80% of the target market capitalization of US$250,000,000;
- [F2]and (B) the remaining portion shall vest proportionately on a straight-line basis as the Company's market capitalization increases from 80% to 100% of the target market capitalization, with 100% of such portion vesting upon achievement of the full target; and (ii) the remaining fifty percent (50%) of the PSUs shall vest if the Company's Common Shares, as listed on The Nasdaq Capital Market, have achieved a higher total return than the Russell Microcap Index over any two-year period commencing on the date of grant and ending on the expiry date of such PSUs.