Airship AI (AISP) Insider Filing: Huang Reports Disposition and Option Grant
Rhea-AI Filing Summary
Victor Huang, CEO and Chairman of Airship AI Holdings, Inc. (AISP), reported changes in his beneficial ownership on Form 4. The filing shows a disposition of 134,719 shares of common stock on 09/03/2025 and a contemporaneous grant of 50,000 options exercisable through 09/03/2035 with $0 exercise price reported as acquired on the same date. Following the reported transactions, Airship Kirkland Family Limited Partnership is recorded as holding 3,393,123 shares indirectly; Mr. Huang is the managing partner and disclaims direct beneficial ownership except for his pecuniary interest. The schedule also details various derivative holdings received on 12/21/2023, including options, SARs, warrants and earnout rights with specified exercise prices and expirations.
Positive
- Timely disclosure of insider transactions and holdings consistent with Section 16 reporting requirements
- Detailed breakdown of derivative instruments (options, SARs, warrants, earnout rights) including prices and expirations
Negative
- Disposition of 134,719 shares reported on 09/03/2025 (reduces reported direct holdings)
- Majority of holdings recorded indirectly through Airship Kirkland Family Limited Partnership, complicating direct ownership clarity
Insights
TL;DR: Routine insider reporting of a share disposition and option grant; ownership largely held indirectly via family partnership.
The Form 4 discloses a sale of 134,719 common shares and an option award of 50,000 options exercisable through 2035 with a $0 reported exercise price on 09/03/2025. Material additional detail shows substantial indirect holdings (3,393,123 shares) held by Airship Kirkland Family Limited Partnership, for which Mr. Huang is managing partner and retains voting/dispositive power but disclaims direct beneficial ownership except for pecuniary interest. The filing also catalogs multiple derivative instruments issued as part of the Merger Agreement on 12/21/2023, with specific exercise prices and expirations documented. This is a disclosure of transactions and existing holdings rather than a change to corporate governance or control structure.
TL;DR: Insider sold a modest block and received an option grant; substantial indirect holdings and multiple derivative instruments remain outstanding.
The reported disposal of 134,719 shares and acquisition of 50,000 options (09/03/2025) are clearly recorded. The filing lists significant converted equity and derivative positions originating from the Merger Agreement dated June 27, 2023, and effective 12/21/2023, including options, stock appreciation rights, warrants, public warrants, and earnout rights with exercise prices ranging from $0.12 to $4.50 and varying expiration dates. Ownership is predominantly indirect through a family limited partnership where Mr. Huang has managing partner authority. The disclosure is informational; the Form 4 itself does not provide additional financial metrics or valuation context.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Options | 50,000 | $0.00 | -- |
| holding | Options | -- | -- | -- |
| holding | Stock Appreciation Rights | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Earnout Rights | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Warrant | -- | -- | -- |
| holding | Public Warrant (AISPW shares) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents 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. Airship Kirkland Family Limited Partnership is the record holder of the securities reported herein. Victor Huang is the managing partner of Airship Kirkland Family Limited Partnership and as such has voting and dispositive power over these securities. Mr. Huang disclaims beneficial ownership of the securities held by Airship Kirkland Family Limited Partnership, except to the extent of his pecuniary interest therein. 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. 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. 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. 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. Options vest quarterly over 4 years. 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.
FAQ
What transactions did Victor Huang report on the Form 4 for AISP?
What derivative instruments from the merger are disclosed in the Form 4?
Are there expirations or vesting terms disclosed for the reported options?
