Airship AI corrects CEO option and rights expiration dates
The amendment corrects a typographical error in the CEO’s reported option and stock appreciation right expiration dates.
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Form Type
4/A
Rhea-AI Filing Summary
Airship AI Holdings, Inc. (AISP) CEO and Chairman of the Board Victor Huang, who is also a director and 10% owner, transferred 200,000 common shares as a gift on June 3, 2026. His reported direct common-share position afterward was 3,832,207 shares. No Rule 10b5-1 plan is reported.
The amendment corrects a typographical error in the reported expiration dates for options and stock appreciation rights. It lists 1,749,335 common shares underlying options and 1,758,105 underlying stock appreciation rights, each with a $0.12 exercise price and a January 16, 2033 expiration date.
Insider Trade Summary
200,000 shares gifted
Gift
9 txns
Insider
Huang Victor
Role
CEO and Chairman of the BOD
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock F1 | 200,000 | $0.00 | $0.00 |
| holding | Options F2 | -- | -- | -- |
| holding | Stock Appreciation Rights F3 | -- | -- | -- |
| holding | Warrants F4 | -- | -- | -- |
| holding | Earnout Rights F5 | -- | -- | -- |
| holding | Options F6 | -- | -- | -- |
| holding | Warrant | -- | -- | -- |
| holding | Options F6 | -- | -- | -- |
| holding | Public Warrant (AISPW shares) F7 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 3,832,207 shares (Direct);
Options — 1,899,335 contracts (Direct);
Stock Appreciation Rights — 1,758,105 contracts (Direct);
Warrants — 1,344,951 contracts (Direct);
Earnout Rights — 1,374,252 contracts (Direct);
Warrant — 220,000 contracts (Direct);
Public Warrant (AISPW shares) — 126,125 contracts (Direct)
Footnotes (7)
- F1. Includes shares of common stock of the Issuer received on December 21, 2023, as consideration pursuant to that certain Merger Agreement, dated as of June 27, 2023 (as amended on September 22, 2023 and as may be further amended and/or restated from time to time, the "Merger Agreement"), by and among Airship AI Holdings, Inc., a Delaware corporation (the "Issuer") (formerly known as BYTE Acquisition Corp., a Cayman Island exempted company limited by shares, prior to its domestication as a Delaware corporation), BYTE Merger Sub, Inc., a Washington corporation and a direct, wholly-owned subsidiary of the Issuer, and Airship AI, Inc., a Washington company (formerly known as Airship AI Holdings, Inc., "Airship AI"). The Reporting Person received the reported shares in exchange for shares of common stock of Airship AI at the Conversion Ratio, as defined in the Merger Agreement, as of the Effective Time of the Merger.
- F2. Represents options to purchase shares of common stock of the Issuer received on December 21, 2023, pursuant to the Merger Agreement, upon the conversion of options to purchase shares of common stock of Airship AI at the Conversion Ratio, as defined in the Merger Agreement, as of the Effective Time of the Merger.
- F3. Represents stock appreciation rights denominated in shares of common stock of the Issuer received on December 21, 2023, pursuant to the Merger Agreement, upon the conversion of stock appreciation rights denominated in shares of common stock of Airship AI at the Conversion Ratio, as defined in the Merger Agreement, as of the Effective Time of the Merger.
- F4. Represents warrants to purchase shares of common stock of the Issuer received by the Reporting Person on December 21, 2023, pursuant to the Merger Agreement, upon the conversion of warrants to purchase shares of common stock of Airship AI at the Conversion Ratio, as defined in the Merger Agreement, as of the Effective Time of the Merger.
- F5. Pursuant to earnout provisions in the Merger Agreement, the holder of such Earnout Rights is entitled to receive shares of common stock of the Issuer upon the occurrence of certain operating performance and share price performance milestones during the applicable earnout periods set forth in the Merger Agreement.
- F6. Options vest quarterly over 4 years.
- F7. Public Warrant (AISPW shares) Exercise Price subject to adjustment and expire five years after the closing of the merger on December 21, 2023, or earlier upon redemption or liquidation. AISPW shares have various dates exercisable based on various purchase dates.
Key Figures
Common shares transferred as a gift: 200,000 shares
Direct common shares after transaction: 3,832,207 shares
Options underlying common shares: 1,749,335 shares; $0.12 exercise price
+5 more
8 metrics
Common shares transferred as a gift
200,000 shares
June 3, 2026
Direct common shares after transaction
3,832,207 shares
After the June 3, 2026 gift
Options underlying common shares
1,749,335 shares; $0.12 exercise price
Expiration date: January 16, 2033
Stock appreciation rights underlying common shares
1,758,105 shares; $0.12 exercise price
Expiration date: January 16, 2033
Warrants underlying common shares
1,344,951 shares; $1.77 exercise price
Expiration date: May 8, 2028
Earnout rights underlying common shares
1,374,252 shares
Subject to operating performance and share price performance milestones during applicable earnout periods
Options underlying common shares
100,000 shares; $2.86 exercise price
Expiration date: August 16, 2034
Options underlying common shares
50,000 shares; $4.25 exercise price
Expiration date: September 3, 2035
Key Terms
Stock Appreciation Rights, Earnout Rights, Conversion Ratio, Exercise Price
4 terms
Stock Appreciation Rights technical
"Options(2) and Stock Appreciation Rights(3) derivative securities holdings"
Stock appreciation rights (SARs) are a form of employee compensation that give the holder the right to receive the increase in a company's stock price over a set baseline, paid in cash or shares, without having to buy the stock. For investors, SARs matter because they can create future cash outflows or share dilution and signal how a company rewards and motivates executives — similar to giving a bonus tied directly to how well the company’s stock performs.
Earnout Rights financial
"holder of such Earnout Rights is entitled to receive shares"
Conversion Ratio financial
"at the Conversion Ratio, as defined in the Merger Agreement"
The conversion ratio is the number of common shares an investor receives when a convertible security (like a bond or preferred share) or an exchangeable instrument is turned into ordinary stock. It matters because it tells investors how much ownership or dilution will occur — similar to knowing how many slices you get when you trade in a coupon — and directly affects the value you get from the convertible and the company’s future share count.
Exercise Price financial
"Exercise Price subject to adjustment"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are Victor Huang’s AISP earnout rights tied to?
The holder is entitled to receive 1,374,252 common shares upon the occurrence of certain operating performance and share price performance milestones during the applicable earnout periods set forth in the Merger Agreement.
How do Huang’s additional AISP options vest?
The options covering 100,000 shares at $2.86 and 50,000 shares at $4.25 vest quarterly over four years.
AI-generated analysis. How Rhea-AI works. Not financial advice.
