[Form 4] Archer Aviation Inc. Insider Trading Activity

Rhea-AI Filing Summary

Archer Aviation Inc. (ACHR) filed a Form 4 reporting the award of 19,102 restricted stock units (RSUs) to director Oscar Munoz on 06/27/2025. Each RSU converts into one share of Class A common stock once vested. The entire grant vests on the earlier of (i) the first anniversary of the grant date or (ii) the company’s 2026 annual stockholders’ meeting. No purchase price was paid, and the filing shows Mr. Munoz now beneficially owns 19,102 RSUs directly. The RSUs either vest or are forfeited; they do not carry an expiration date. No other equity transactions or non-derivative holdings were disclosed.

Positive

• Director-shareholder alignment: Service-based RSU grant ties Oscar Munoz’s compensation to share performance, encouraging alignment with investor interests.

Negative

• Minor dilution risk: Conversion of 19,102 RSUs will incrementally increase the share count, though the effect is immaterial.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant; modest alignment, immaterial dilution, neutral impact.

The 19,102-share RSU award represents standard board compensation and adds less than 0.01% to Archer’s fully diluted share count, creating negligible dilution. Because vesting is service-based and occurs within one year or at the 2026 AGM, the grant incentivizes short-term oversight continuity rather than long-term performance. No purchase or sale was executed, so insider sentiment cannot be inferred. Overall governance practices appear typical, with proper Rule 10b5-1 acknowledgments and timely filing.

Portfolio Manager

TL;DR: Insignificant position size; no investment thesis change.

At Archer’s recent market price, the RSU package is worth roughly mid-five figures, immaterial to market cap and liquidity. Because the director neither bought nor sold shares for cash, the filing does not signal conviction about valuation. The vesting schedule suggests continued board engagement but has no direct impact on near-term earnings or cash flow. I classify the disclosure as non-impactful to valuation or portfolio weighting.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MUNOZ OSCAR

(Last) (First) (Middle)

C/O ARCHER AVIATION INC.

190 WEST TASMAN DRIVE

(Street)

SAN JOSE CA 95134

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Archer Aviation Inc. [ ACHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	06/27/2025		A		19,102		(2)	(3)	Class A Common Stock	19,102	$0	19,102	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock, subject to the reporting person's continued service to the Issuer as of the applicable vesting date.

2. The entire award will vest on the earlier of the: (i) one year anniversary of the grant date or (ii) date of the Issuer's 2026 annual stockholders' meeting.

3. These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.

	/s/ Eric Lentell, Attorney-in-Fact for Oscar Munoz	07/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

How many Archer Aviation (ACHR) shares did Oscar Munoz acquire?

He was awarded 19,102 restricted stock units, each convertible into one Class A share upon vesting.

What is the vesting schedule for the RSUs granted to Oscar Munoz?

The entire award vests on the earlier of one year from 06/27/2025 or the 2026 annual stockholders’ meeting.

Did Oscar Munoz purchase ACHR shares with cash?

No. The Form 4 reports a stock grant (code "A"); no cash transaction occurred.

How many ACHR shares does Oscar Munoz own after this filing?

Mr. Munoz now beneficially owns 19,102 RSUs; no other holdings were disclosed.

Does the RSU award affect Archer Aviation’s share count?

Upon vesting and settlement, the RSUs will convert into common shares, causing a very small increase in the outstanding share count.