O'Neill Jason Michael 4

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.