Airship AI (AISP) president details option grants and 155,843-share earnout
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Airship AI Holdings, Inc. President Paul M. Allen reported his current equity holdings, rather than new buying or selling activity. He directly holds 151,948 shares of common stock after the reported date.
He also holds several option awards on common stock, including 59,000 underlying shares at an exercise price of $2.72 per share expiring on March 4, 2036, 50,000 shares at $4.25 expiring on September 3, 2035, 300,000 and 100,000 shares each at $3.27 expiring on March 4, 2035, and 150,000 shares at $2.86 expiring on August 16, 2034. Another option grant covers 835,059 shares at $0.57 per share expiring on January 16, 2032.
Footnotes explain that certain options were received in connection with a merger and convert prior Airship AI options at a defined conversion ratio. Allen also holds 155,843 Earnout Rights, which may deliver additional common shares if specified operating and share price performance milestones under the merger agreement are achieved, and the options vest quarterly over four years.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Allen Paul M.
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Options | -- | -- | -- |
| holding | Earnout Rights | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Options | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Options — 835,059 shares (Direct, null);
Earnout Rights — 155,843 shares (Direct, null);
Common Stock — 151,948 shares (Direct, null)
Footnotes (1)
- Represents options to purchase shares of common stock of the Issuer received on December 21, 2023 (the "Converted Stock Options"), 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. Pursuant to earnout provisions in the Merger Agreement and subject to the Reporting Person's continued service to the Issuer and the vesting conditions applicable to the Converted Stock Options, 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.
Key Figures
Direct common shares: 151,948 shares
Options at $2.72: 59,000 underlying shares at $2.72/share
Options at $4.25: 50,000 underlying shares at $4.25/share
+4 more
7 metrics
Direct common shares
151,948 shares
Common stock held directly after transactions on April 20, 2026
Options at $2.72
59,000 underlying shares at $2.72/share
Options on common stock expiring March 4, 2036
Options at $4.25
50,000 underlying shares at $4.25/share
Options on common stock expiring September 3, 2035
Options at $3.27 (large grant)
300,000 underlying shares at $3.27/share
Options on common stock expiring March 4, 2035
Options at $2.86
150,000 underlying shares at $2.86/share
Options on common stock expiring August 16, 2034
Options at $0.57
835,059 underlying shares at $0.57/share
Options on common stock expiring January 16, 2032
Earnout Rights
155,843 rights
Rights to receive common shares upon meeting merger performance milestones
Key Terms
Converted Stock Options, Merger Agreement, Conversion Ratio, Earnout Rights, +1 more
5 terms
Converted Stock Options financial
"Represents options to purchase shares of common stock of the Issuer received on December 21, 2023 (the "Converted Stock Options"),"
Merger Agreement regulatory
"pursuant to that certain Merger Agreement, dated as of June 27, 2023 (as amended on September 22, 2023..."
A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.
Conversion Ratio financial
"The Reporting Person received the reported options upon the conversion of options ... at the Conversion Ratio, as defined in the Merger Agreement,"
The conversion ratio is the number of common shares an investor receives when a convertible security (like a bond or preferred share) or an exchangeable instrument is turned into ordinary stock. It matters because it tells investors how much ownership or dilution will occur — similar to knowing how many slices you get when you trade in a coupon — and directly affects the value you get from the convertible and the company’s future share count.
Earnout Rights financial
"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"
vest quarterly over 4 years financial
"Options vest quarterly over 4 years."
FAQ
What did Airship AI (AISP) President Paul M. Allen report in this Form 4?
Paul M. Allen reported his existing holdings of Airship AI equity, not new trades. The filing lists 151,948 common shares, multiple option grants with various strike prices and expirations, and 155,843 Earnout Rights tied to performance milestones under a merger agreement.
What stock options on AISP does Paul M. Allen hold according to the filing?
Allen holds several option grants on Airship AI common stock, including blocks over 59,000 shares at $2.72, 50,000 at $4.25, 300,000 and 100,000 at $3.27, 150,000 at $2.86, and 835,059 at $0.57, all with long-dated expirations.
What are the Earnout Rights reported by Airship AI (AISP) President Paul M. Allen?
Allen holds 155,843 Earnout Rights linked to Airship AI common stock. Under the merger agreement, these may convert into shares if specified operating performance and share price milestones are achieved while he continues serving and related options meet vesting conditions.
How were some of Paul M. Allen’s Airship AI (AISP) options received?
A portion of Allen’s options were received as Converted Stock Options in the Airship AI merger. Pre-merger options in Airship AI were converted into Airship AI Holdings options using a defined Conversion Ratio as of the merger’s effective time under the merger agreement.
How do Paul M. Allen’s Airship AI (AISP) options vest over time?
The filing notes that the options vest quarterly over four years. This means Allen’s right to exercise the granted options increases gradually each quarter, spreading the vesting schedule evenly across the four-year period defined in the award terms.