O'Neill Jason Michael 4
4 · New Horizon Aircraft Ltd. · Filed Jul 15, 2026
Research Summary
AI-generated summary of this filing
New Horizon Aircraft COO Jason O'Neill Receives Vested PSUs
What Happened
- Jason Michael O'Neill, Chief Operating Officer of New Horizon Aircraft Ltd. (HOVR), had 103,734 performance share units (PSUs) vest on May 26, 2026. Those PSUs converted into 103,734 Class A shares.
- To cover withholding obligations, 30,782 of those shares were surrendered at $3.68 per share (value ≈ $113,278). The reporting shows a net increase of 72,952 shares to O'Neill’s holdings. No cash proceeds were received by the reporting person in connection with the withholding.
Key Details
- Transaction date: May 26, 2026; Form 4 filed: July 15, 2026 (filing appears late — Form 4s are normally due within 2 business days).
- Acquired: 103,734 shares via conversion of PSUs (transaction code M).
- Disposed (to cover tax withholding): 30,782 shares @ $3.68 = $113,278 (transaction code F). Another Form 4 row shows the derivative conversion at $0 (accounting for the PSU-to-share conversion).
- Net new shares to insider: 72,952 (103,734 − 30,782).
- Footnotes: PSUs represent contingent rights to one share each (F1). Vesting occurred based on market-cap performance criteria (detailed performance vesting schedule) and 103,734 PSUs vested on May 26, 2026 (F2). Withholding was solely to cover taxes — no cash proceeds to the insider (F4). Form notes additional ESPP shares since prior filing (F3).
Context
- These were not open-market purchases or sales driven by trading decisions but the vesting/conversion of compensation PSUs; the disposed shares were surrendered solely for tax withholding (a routine administrative step).
- Transaction codes: M = exercise/conversion of derivative (PSU conversion), F = payment of exercise price or tax liability (share withholding).
- This filing documents compensation realization rather than an independent bullish/bearish trade by the insider.
Insider Transaction Report
Form 4
O'Neill Jason Michael
Chief Operating Officer
Transactions
- Exercise/Conversion
Class A Ordinary Shares without par value
[F1][F2][F3]2026-05-26+103,734→ 558,473 total - Tax Payment
Class A Ordinary Shares without par value
[F4]2026-05-26$3.68/sh−30,782$113,278→ 527,691 total - Exercise/Conversion
Performance Share Units
[F1][F2]2026-05-26−103,734→ 146,266 totalExp: 2029-12-15→ Class A Ordinary Shares without par value (103,734 underlying)
Footnotes (4)
- [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").
- [F2]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; 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. On May 26, 2026, 103,734 PSUs vested based on the achievement of the applicable market capitalization performance criteria.
- [F3]Includes shares acquired under the Company's employee share purchase plan since the reporting person's last Form 4 filing reporting holdings of Class A ordinary shares on October 16, 2025.
- [F4]Reflects a transaction solely to cover withholding payments to applicable taxing authorities. No cash proceeds were received by the reporting person in connection with the disposition of securities disclosed in this row.
Signature
/s/ Jason Michael O'Neill|2026-07-15