Airship AI Holdings, Inc. (AISP) director reports new 24,000 option grant

Rhea-AI Filing Summary

Airship AI Holdings, Inc. director filed a report of equity holdings and a new option grant dated 12/11/2025. The filing shows direct ownership of 9,767 shares of common stock.

The director also holds multiple derivative securities, including options exercisable at $0.57 for 43,952 shares, at $1.64 for 131,857 shares, and at $4.25 for 20,000 shares, plus earnout rights tied to 29,302 shares. On 12/11/2025, the director acquired additional options with an exercise price of $3.28 covering 24,000 shares, expiring on 12/11/2035, with these options vesting quarterly over four years.

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^*

Ranjan Peeyush

(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								9,767	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)	$0.57							12/21/2023	01/15/2032	Common Stock	43,952		43,952	D
Options(1)	$1.64							12/21/2023	08/06/2033	Common Stock	131,857		131,857	D
Earnout Rights	(2)							(2)	(2)	Common Stock	29,302		29,302	D
Options	$4.25							(3)	09/03/2035	Common Stock	20,000		20,000	D
Options	$3.28	12/11/2025		A		24,000		(3)	12/11/2035	Common Stock	24,000	$0	24,000	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/ Peeyush Ranjan	12/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider activity did Airship AI Holdings, Inc. (AISP) report in this filing?

The filing reports that a director of Airship AI Holdings, Inc. recorded holdings of 9,767 common shares and several derivative securities, including a new grant of 24,000 stock options on 12/11/2025.

How many new stock options did the Airship AI (AISP) director receive and at what exercise price?

On 12/11/2025, the director received 24,000 stock options with an exercise price of $3.28 per share, expiring on 12/11/2035.

What is the vesting schedule for the new Airship AI (AISP) stock options?

The new options covering 24,000 shares vest quarterly over 4 years, as indicated in the filing’s explanation of responses.

What other option awards does the Airship AI (AISP) director hold?

The director holds options exercisable at $0.57 for 43,952 shares, at $1.64 for 131,857 shares, and at $4.25 for 20,000 shares, all linked to Airship AI common stock.

What are the earnout rights disclosed for the Airship AI (AISP) director?

The director holds earnout rights tied to 29,302 shares of common stock. These may be earned upon achieving certain operating and share price performance milestones, subject to continued service.

How are some of the director’s options in Airship AI (AISP) related to the merger agreement?

Certain options were received on 12/21/2023 under a Merger Agreement, through conversion of prior Airship AI options at a defined conversion ratio as of the merger’s effective time.