Airship AI (AISP) president Paul M. Allen granted 59,000 stock options

Rhea-AI Filing Summary

Airship AI Holdings, Inc. President Paul M. Allen reported an award of 59,000 options to purchase common stock on March 4, 2026 at an exercise price of $0.00 per share. These options vest quarterly over 4 years. After this grant, he directly holds 835,058 options, 151,948 shares of common stock, and 155,843 earnout rights that may convert into shares if specified operating and share price performance milestones in the merger agreement are met.

Insider Trade Summary

8 transactions reported

Mixed 8 txns

Insider Allen Paul M.

Role President

Type	Security	Shares	Price	Value
Grant/Award	Options	59,000	$0.00	--
holding	Options	--	--	--
holding	Earnout Rights	--	--	--
holding	Options	--	--	--
holding	Options	--	--	--
holding	Options	--	--	--
holding	Options	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Options — 59,000 shares (Direct); Earnout Rights — 155,843 shares (Direct); Common Stock — 151,948 shares (Direct)

Footnotes (1)

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.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Allen Paul M.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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								151,948	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	835,058		835,058	D
Earnout Rights	(2)							(2)	(2)	Common Stock	155,843		155,843	D
Options	$2.86							(3)	08/16/2034	Common Stock	150,000		150,000	D
Options	$3.27							03/04/2025	03/04/2035	Common Stock	100,000		100,000	D
Options	$3.27							(3)	03/04/2035	Common Stock	300,000		300,000	D
Options	$4.25							(3)	09/03/2035	Common Stock	50,000		50,000	D
Options	$2.72	03/04/2026		A		59,000		(3)	03/04/2036	Common Stock	59,000	$0	59,000	D

Explanation of Responses:

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.

2. 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.

3. Options vest quarterly over 4 years.

	By: /s/ Paul Allen	03/06/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did AISP President Paul M. Allen report in this Form 4?

Paul M. Allen reported receiving an award of 59,000 stock options on March 4, 2026. The options carry a $0.00 exercise price and vest quarterly over four years, increasing his overall option-based exposure to Airship AI Holdings, Inc. equity.

How many Airship AI (AISP) options does Paul M. Allen hold after this filing?

After this award, Paul M. Allen directly holds 835,058 options to purchase Airship AI common stock. This total reflects previously granted options plus the new 59,000-option grant reported in the Form 4, indicating a substantial option position tied to company performance.

What are the vesting terms of the new AISP stock options granted to Paul M. Allen?

The newly granted 59,000 options vest quarterly over four years. This means portions of the grant become exercisable every quarter during the vesting period, aligning Allen’s compensation with longer-term service and performance at Airship AI Holdings, Inc.

What earnout rights related to AISP does Paul M. Allen hold?

Paul M. Allen holds 155,843 earnout rights connected to the company’s merger agreement. These rights may convert into shares of common stock if specified operating performance and share price milestones are achieved during the defined earnout periods in that agreement.

How many shares of Airship AI (AISP) common stock does Paul M. Allen directly own?

Paul M. Allen directly owns 151,948 shares of Airship AI common stock. This ownership is in addition to his various option positions and earnout rights, giving him multiple forms of equity-linked exposure to the company’s future performance.

Are Paul M. Allen’s AISP earnout rights subject to continued service conditions?

Yes. The earnout rights are subject to his continued service with Airship AI and to vesting conditions applicable to the converted stock options. They only deliver shares if both service and specified performance milestones under the merger agreement are satisfied.