Patrick Mcnulty - Jul 25, 2024 Form 4 Insider Report for Jet.AI Inc. (JTAI)

Role: Chief Operating Officer
Signature: /s/ Patrick McNulty
Stock symbol: JTAI
Transactions as of: Jul 25, 2024
Transactions value $: $0
Form type: 4
Date filed: 9/9/2024, 08:10 PM
Previous filing: Sep 28, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JTAI	Common Stock, par value $0.0001	Purchase		+7	+175%		11	Jul 25, 2024	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	JTAI	Merger Consideration Warrant (Right to Buy)	Sale		-6	-100%		0	Jul 25, 2024	Common Stock, par value $0.0001 per share			Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person disposed of six Merger Consideration Warrants (each, a "Warrant") of Jet.AI Inc. (the "Issuer") in exchange for seven shares of the Issuer's common stock, par value $0.0001 per share (or 1.0133 shares of common stock per Warrant, rounded up to the nearest whole share), pursuant to the terms of the Issuer's exchange offer (the "Exchange Offer").
F2	In the reporting person's last filed Form 4, filed on September 28, 2023, the reporting person mistakenly included 84,552 shares of the Issuer's common stock underlying options held by the reporting person ("Option Shares") in his reported aggregate holdings of common stock in Table I of the Form 4. Excluding such Option Shares, which had been correctly reported as part of the reporting person's Table II holdings of derivative securities in a Form 4 filed on August 23, 2023, the reporting person actually held four shares of common stock at the time his last Form 4 was filed. Adding the seven shares of common stock the reporting person received pursuant to the terms of the Exchange Offer, the reporting person now owns 11 shares of common stock.

Content

The reporting person disposed of six Merger Consideration Warrants (each, a "Warrant") of Jet.AI Inc. (the "Issuer") in exchange for seven shares of the Issuer's common stock, par value $0.0001 per share (or 1.0133 shares of common stock per Warrant, rounded up to the nearest whole share), pursuant to the terms of the Issuer's exchange offer (the "Exchange Offer").

In the reporting person's last filed Form 4, filed on September 28, 2023, the reporting person mistakenly included 84,552 shares of the Issuer's common stock underlying options held by the reporting person ("Option Shares") in his reported aggregate holdings of common stock in Table I of the Form 4. Excluding such Option Shares, which had been correctly reported as part of the reporting person's Table II holdings of derivative securities in a Form 4 filed on August 23, 2023, the reporting person actually held four shares of common stock at the time his last Form 4 was filed. Adding the seven shares of common stock the reporting person received pursuant to the terms of the Exchange Offer, the reporting person now owns 11 shares of common stock.