[Form 4] Archer Aviation Inc. Insider Trading Activity

Rhea-AI Filing Summary

Archer Aviation Inc. (ACHR) filed a Form 4 disclosing that director Michael Spellacy received a grant of 19,102 restricted stock units (RSUs) on 06/27/2025. Each RSU converts into one share of Class A common stock upon vesting, subject to Spellacy’s continued service. The award vests in a single tranche on the earlier of (i) the one-year anniversary of the grant date or (ii) the date of Archer’s 2026 annual shareholders’ meeting. The filing indicates Spellacy now beneficially owns 19,102 derivative securities, all held directly.

No shares were sold and no cash exercise price applies (grant price $0). The RSUs either vest or are cancelled; they do not carry an expiration date. Because the award represents roughly 19 thousand shares versus Archer’s >300 million basic shares outstanding, the dilution impact is immaterial. Nevertheless, the grant aligns the director’s incentives with long-term shareholder value creation and signals ongoing board engagement as the company advances its eVTOL commercialization plans.

Positive

• Alignment of incentives: RSUs link director compensation to share performance, promoting shareholder-friendly governance.
• No insider selling: The filing reports only an equity grant, avoiding potential negative sentiment associated with dispositions.

Negative

• Minor dilution: Issuance of 19,102 new shares adds marginal dilution, though impact is de-minimis.

Insights

Corporate Governance Expert

TL;DR: Routine RSU grant to director; minimal dilution, positive alignment, low investor impact.

This Form 4 records a standard annual equity retainer: 19,102 RSUs to director Michael Spellacy. Such grants reinforce governance best practices by tying director compensation to total shareholder return. Because the award is small relative to ACHR’s float, it conveys negligible dilution risk. No insider sales occurred, so there is no adverse signalling. Overall, the disclosure is procedural and does not alter the strategic or financial outlook.

Portfolio Manager

TL;DR: Neutral to portfolio thesis; RSU amount too small to influence valuation.

At 19,102 shares, the grant equals less than 0.01% of outstanding shares—far below thresholds that move price models. The one-year or 2026 AGM cliff vesting keeps the director engaged through key certification milestones. With no cash outlay or insider selling, the filing neither improves nor worsens near-term liquidity dynamics. I view the event as non-impactful for positioning decisions.

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^*

Spellacy Michael

(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 Michael Spellacy	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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Archer Aviation (ACHR) disclose in the latest Form 4?

Director Michael Spellacy was granted 19,102 restricted stock units on 06/27/2025.

When will Michael Spellacy’s RSUs vest?

The entire award vests on the earlier of one year after grant or the 2026 annual meeting.

Does the RSU grant involve any cash exercise price?

No. RSUs convert to shares at $0 exercise price; they either vest or are forfeited.

How many Archer Aviation shares does the director own after this transaction?

Spellacy beneficially owns 19,102 derivative securities (RSUs) following the grant.

Is this Form 4 filing likely to affect ACHR’s stock price?

Impact is expected to be neutral because the share amount is immaterial versus total shares outstanding.