HOVR Form 4: Eric Robinson Disposes 180,000 Class A Shares
Rhea-AI Filing Summary
Eric Brandon Robinson, the Chief Executive Officer and a director of New Horizon Aircraft Ltd. (HOVR), reported multiple sales of Class A ordinary shares on 09/23/2025 and 09/24/2025. He sold 90,000 shares on 09/23 at a weighted average price of $2.227 (individual trades ranged $2.110–$2.290) and 90,000 shares on 09/24 at a weighted average price of $2.242 (trades ranged $2.175–$2.335), for a total of 180,000 shares sold. After these transactions, indirect beneficial ownership reported for shares held by Robinson Family Ventures Inc. was 1,612,510 shares. The filing disclaims beneficial ownership except for pecuniary interest and notes that the 09/24 shares sold were the sole property of Brian Robinson at sale. The report also shows 4,409 shares acquired under the company ESPP since the last Form 4 filed 08/08/2025.
Positive
- Acquired 4,409 shares under the company's ESPP since the prior Form 4 filing
- Disclosed weighted-average prices and trade ranges, increasing transparency about the insider sales
Negative
- Sold a total of 180,000 Class A shares (90,000 on 09/23/2025 and 90,000 on 09/24/2025)
- Indirect holdings decreased to 1,612,510 shares following the reported transactions
Insights
TL;DR: CEO sold 180,000 Class A shares across two days; ownership remains indirect at 1,612,510.
The Form 4 shows the CEO, who is also a director, executed open-market sales of 90,000 shares on 09/23/2025 and 90,000 shares on 09/24/2025, with disclosed price ranges and weighted averages.
This filing also includes a standard beneficial-ownership disclaimer and notes certain shares sold on 09/24 were owned by Brian Robinson, not the reporting person, which clarifies economic interest and control for governance assessments.
TL;DR: Aggregate insider sales of 180,000 shares at ~$2.23 may affect float and short-term supply, but the filer retains substantial indirect holdings.
The sales occurred at weighted averages of $2.227 and $2.242, with trade ranges disclosed, providing transparency on execution prices.
Reported continuing indirect ownership of 1,612,510 shares suggests the seller maintains significant exposure; the ESPP addition of 4,409 shares since 08/08/2025 is noted but small relative to total holdings.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Ordinary Shares without par value | 90,000 | $2.242 | $202K |
| Sale | Class A Ordinary Shares without par value | 90,000 | $2.227 | $200K |
| holding | Class A Ordinary Shares without par value | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. The reporting person undertakes to provide to New Horizon Aircraft Ltd. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) and (3) to this Form 4. These shares were sold in multiple transactions at prices ranging from $2.110 to $2.290, inclusive. These shares were sold in multiple transactions at prices ranging from $2.175 to $2.335, inclusive. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. The reporting person had no economic interest in the shares sold in this transaction and such shares were the sole property of Brian Robinson, a director of Robinson Family Ventures Inc., at the time of sale. Includes shares acquired under the Company's employee share purchase plan (the "ESPP"). Mr. Robinson has acquired 4,409 additional shares under the ESPP since his last Form 4 filing reporting holdings of Class A ordinary shares on August 8, 2025.
