Airship AI (NASDAQ: AISP) CEO adds 40,000 shares in open-market buy

Rhea-AI Filing Summary

Airship AI Holdings CEO Victor Huang bought 40,000 common shares of AISP at an average price of $2.2422 in an open-market transaction, increasing his direct holdings to 4,012,567 shares. This purchase modestly raises his equity stake as CEO, chairman and 10% owner.

He also continues to hold a large package of equity-linked awards, including options, stock appreciation rights, warrants, public warrants and earnout rights over various amounts of common stock, with exercise prices ranging from $0.12 to $4.50 per share and expirations between 2027 and 2035.

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

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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^*

Huang Victor

(Last) (First) (Middle)

C/O AIRSHIP AI HOLDINGS, INC.

8210 154TH AVE NE

(Street)

REDMOND WASHINGTON 98052

(City) (State) (Zip)

UNITED STATES

(Country)

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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and Chairman of the BOD

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

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

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

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	03/20/2026		P		40,000	A	$2.2422	4,012,567(1)	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
Options(2)	$0.12							12/21/2023	01/15/2032	Common Stock	1,749,335		1,749,335	D
Stock Appreciation Rights(3)	$0.12							12/21/2023	02/16/2032	Common Stock	1,758,105		1,758,105	D
Warrants(4)	$1.77							12/21/2023	05/08/2027	Common Stock	1,344,951		1,344,951	D
Earnout Rights	(5)							(5)	(5)	Common Stock	1,750,094		1,750,094	D
Options	$2.86							(6)	08/16/2034	Common Stock	100,000		100,000	D
Warrant	$2.36							09/27/2024	09/27/2029	Common Stock	220,000		220,000	D
Options	$4.25							(6)	09/03/2035	Common Stock	50,000		50,000	D
Public Warrant (AISPW shares)	$4.5(7)							(7)	12/21/2028(7)	Common Stock	126,125		126,125	D

Explanation of Responses:

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

6. Options vest quarterly over 4 years.

7. 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.

	By: /s/ Victor Huang	03/20/2026
	** 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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* Form 4: SEC 1474 (03-26)

FAQ

What did Airship AI (AISP) CEO Victor Huang do in this Form 4 filing?

Victor Huang reported buying 40,000 shares of Airship AI common stock at $2.2422 per share in an open-market transaction. After this purchase, his direct ownership rose to 4,012,567 common shares, reinforcing his role as a major insider shareholder.

At what price did the Airship AI (AISP) CEO purchase additional shares?

The CEO bought 40,000 Airship AI common shares at an average price of $2.2422 each. This open-market purchase increases his direct equity exposure and is disclosed as a standard insider buy under the Form 4 reporting requirements for officers and directors.

How many Airship AI (AISP) shares does Victor Huang own after this transaction?

Following the reported purchase, Victor Huang directly holds 4,012,567 shares of Airship AI common stock. This figure reflects his position after acquiring 40,000 additional shares and highlights his significant ownership stake as CEO, chairman and a reported 10% owner.

What derivative awards related to Airship AI (AISP) does the CEO hold?

The filing lists multiple derivative positions for Victor Huang, including options, stock appreciation rights, warrants, public warrants and earnout rights tied to Airship AI common stock. These instruments have exercise prices between $0.12 and $4.50 and expire from 2027 through 2035.

Were there any insider sales of Airship AI (AISP) stock in this Form 4?

No insider sales were reported. The Form 4 shows a net-buy pattern, with one open-market purchase of 40,000 common shares and no reported sales. Additional entries describe existing derivative and earnout holdings rather than new selling transactions.

How significant is the 40,000-share Airship AI (AISP) purchase for the CEO’s position?

The 40,000-share buy is relatively small compared with Victor Huang’s post-transaction holding of 4,012,567 shares. It slightly increases an already large insider position, while his broader exposure also includes substantial options, warrants and earnout rights over additional common shares.