[Form 4] Airship AI Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Airship AI Holdings, Inc. (AISP)50,000 shares of common stock in an open market transaction at a price of $3.18 per share, bringing their directly held position to 100,000 common shares.

The filing also reports derivative holdings in the form of stock options. One non-qualified stock option covers 200,000 shares of common stock at an exercise price of $1.65 per share, expiring on 03/03/2029, subject to a four-year vesting schedule with quarterly vesting amounts of 12,500 options on specific calendar dates. A second option grant covers 50,000 shares at an exercise price of $4.25 per share, expiring on 09/03/2035, and these options also vest quarterly over four years.

11/19/2025 - 09:57 AM

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Lebedin Louis

(Last) (First) (Middle)

C/O AIRSHIP AI HOLDINGS, INC.

8210 154TH AVE NE

(Street)

REDMOND WA 98052

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Airship AI Holdings, Inc. [ AISP ]

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)
09/03/2025

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
Common Stock	11/18/2025		P		50,000	A	$3.18	100,000	D

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
Non-Qualified Stock Option (NQSO)	$1.65							(1)	03/03/2029	Common Stock	200,000		200,000	D
Options	$4.25							(2)	09/03/2035	Common Stock	50,000		50,000	D

Explanation of Responses:

1. The total number of Options granted are subject to a four (4) year vesting period, vesting quarterly. Each vesting year, such Options vest: Twelve Thousand Five Hundred (12,500) on March 31st; Twelve Thousand Five Hundred (12,500) on June 30th; Twelve Thousand Five Hundred (12,500) on September 30th; and in the ensuing year, Twelve Thousand Five Hundred (12,500) on December 31st, (the "Vesting Schedule").

2. Options vest quarterly over 4 years.

	By: /s/ Louis Lebedin	11/18/2025
	** 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 insider transaction was reported for Airship AI (AISP)?

A director of Airship AI Holdings, Inc. (AISP) reported buying 50,000 shares of common stock on 11/18/2025 at a price of $3.18 per share.

How many Airship AI (AISP) shares does the director own after this transaction?

After the reported purchase, the director beneficially owns 100,000 shares of Airship AI common stock in direct ownership.

What stock options does the director hold in Airship AI (AISP)?

The director holds a non-qualified stock option for 200,000 shares of common stock at an exercise price of $1.65 per share expiring on 03/03/2029, and an additional option for 50,000 shares at an exercise price of $4.25 per share expiring on 09/03/2035.

How do the 200,000 Airship AI (AISP) options vest?

The 200,000-share option grant vests over four years, with 12,500 options vesting on March 31, June 30, September 30, and then December 31 in the ensuing year, and continuing quarterly under the stated vesting schedule.

What is the vesting schedule for the 50,000-share Airship AI (AISP) option grant?

The 50,000-share option grant is described as vesting quarterly over four years, according to the explanation of responses.

Is the reporting person a director or officer of Airship AI (AISP)?

The reporting person is identified as a Director of Airship AI Holdings, Inc., filing the form as one reporting person.