Jet.AI Inc. (JTAI) discloses COO stock option grant for 399 shares

Rhea-AI Filing Summary

Jet.AI Inc. reported that its chief operating officer and director Patrick McNulty received a stock option grant covering 399 shares of common stock at an exercise price of $24.35 per share.

The option was approved by the board on December 26, 2023, subject to stockholder approval of an amendment to the omnibus incentive plan, which stockholders granted on September 24, 2024.

The option vests in equal monthly installments beginning on January 26, 2024 and expires on September 24, 2034. The exercise price and share amounts reflect a 1-for-225 reverse stock split that became effective on November 12, 2024.

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

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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^*

MCNULTY PATRICK

(Last) (First) (Middle)

10845 GRIFFITH PEAK DRIVE, SUITE 200

(Street)

LAS VEGAS NV 89135

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Jet.AI Inc. [ JTAI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/24/2024

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

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
Stock Option (Right to Buy)(1)	$24.35	09/24/2024(2)		A		399		(3)	09/24/2034	Common Stock, par value $0.0001 per share	399	$0	399	D

Explanation of Responses:

1. The exercise price, number of derivative securities, and number of underlying shares of common stock, par value $0.0001 per share ("Common Stock"), of Jet.AI Inc. (the "Issuer") reported for this option reflect the 1-for-225 reverse stock split of the Issuer's Common Stock that became effective on November 12, 2024.

2. At the recommendation of the Issuer's Compensation Committee, the Issuer's Board of Directors approved this option grant on December 26, 2023, subject to stockholder approval of an amendment to the omnibus incentive plan under which the option was granted. The Issuer's stockholders approved such amendment on September 24, 2024.

3. This option vests monthly in equal installments beginning on January 26, 2024.

	/s/ Patrick McNulty	12/12/2025
	** 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 transaction did Jet.AI (JTAI) report in this filing?

Jet.AI reported that its chief operating officer and director Patrick McNulty received a stock option grant to purchase 399 shares of common stock at an exercise price of $24.35 per share.

How many Jet.AI shares are covered by Patrick McNultys stock option?

The stock option covers 399 shares of Jet.AI common stock, par value $0.0001 per share.

What is the exercise price and term of the Jet.AI COO stock option?

The option has an exercise price of $24.35 per share and an expiration date of September 24, 2034, giving the right to buy Jet.AI common stock until that date.

When does the Jet.AI stock option for Patrick McNulty vest?

The option vests monthly in equal installments beginning on January 26, 2024.

How did Jet.AIs reverse stock split affect this option grant?

The company states that the exercise price, the number of derivative securities, and the number of underlying shares reported for this option reflect a 1-for-225 reverse stock split of Jet.AI common stock that became effective on November 12, 2024.

What approvals were required for Patrick McNultys Jet.AI stock option grant?

The board approved the option on December 26, 2023, subject to stockholder approval of an amendment to the omnibus incentive plan, and Jet.AI stockholders approved that amendment on September 24, 2024.