Airship AI Holdings, Inc. (AISP) director discloses new option grant

Rhea-AI Filing Summary

Airship AI Holdings, Inc. reported an insider stock transaction by a director. On December 11, 2025, the director acquired 61,000 stock options with an exercise price of $3.28 per share, expiring on December 11, 2035. These options vest quarterly over four years and were granted at a price of $0 for the derivative security.

After this grant, the director beneficially owns 11,281 shares of common stock directly, plus several derivative positions: 203,061 options at $1.64 expiring on August 6, 2033, 50,000 options at $4.25 expiring on September 3, 2035, and 33,844 earnout rights tied to performance milestones under a merger agreement.

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^*

Mital Amit

(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)
12/11/2025

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								11,281	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(1)	$1.64							12/21/2023	08/06/2033	Common Stock	203,061		203,061	D
Earnout Rights	(2)							(2)	(2)	Common Stock	33,844		33,844	D
Options	$4.25							(3)	09/03/2035	Common Stock	50,000		50,000	D
Options	$3.28	12/11/2025		A		61,000		(3)	12/11/2035	Common Stock	61,000	$0	61,000	D

Explanation of Responses:

1. Represents options to purchase shares of common stock of the Issuer received on December 21, 2023, 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 options 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.

2. Pursuant to earnout provisions in the Merger Agreement and subject to the Reporting Person's continued service to the Issuer, 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.

3. Options vest quarterly over 4 years.

	By: /s/ Amit Mital	12/15/2025
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Airship AI Holdings (AISP) disclose?

The company disclosed that a director acquired 61,000 stock options on December 11, 2025 with an exercise price of $3.28 per share and an expiration date of December 11, 2035.

How do the newly reported Airship AI (AISP) options vest?

The options reported with transaction date December 11, 2025 vest quarterly over four years, as described in the footnote that the options vest quarterly over 4 years.

What Airship AI (AISP) common stock does the director own directly?

Following the reported transactions, the director beneficially owns 11,281 shares of Airship AI common stock in direct ownership.

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

The director holds additional options to buy 203,061 shares at $1.64 expiring August 6, 2033, and 50,000 shares at $4.25 expiring September 3, 2035, all directly owned.

What are the Airship AI (AISP) earnout rights mentioned in the filing?

The filing lists 33,844 earnout rights, which entitle the holder to receive Airship AI common stock upon meeting specified operating and share price performance milestones under the Merger Agreement, subject to continued service.

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

Yes. The filing identifies the reporting person’s relationship to Airship AI Holdings, Inc. as a Director and indicates the form was filed by one reporting person.