Jet.ai Inc.

12/12/2025 | Press release | Distributed by Public on 12/12/2025 13:32

Statement of Changes in Beneficial Ownership (Form 4)

FORM 4
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 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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
(Print or Type Responses)
1. Name and Address of Reporting Person *
MURNANE GEORGE III
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)
Interim CFO
(Last) (First) (Middle)
10845 GRIFFITH PEAK DRIVE, SUITE 200
3. Date of Earliest Transaction (Month/Day/Year)
09/24/2024
(Street)
LAS VEGAS, NV 89135
4. If Amendment, Date 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
(City) (State) (Zip)
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, par value $0.0001 per share 0 (1)(2) D
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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 control number. SEC 1474 (9-02)
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 Underlying Securities
(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 of Derivative Security: 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)(3) $24.35 09/24/2024(4) A 267 (5) 09/24/2034 Common Stock, par value $0.0001 per share 267 $ 0 267 D

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
MURNANE GEORGE III
10845 GRIFFITH PEAK DRIVE, SUITE 200
LAS VEGAS, NV 89135
X Interim CFO

Signatures

/s/ George Murnane 12/12/2025
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) In the reporting person's last-filed Form 4, filed on August 20, 2024, 995,754 shares of common stock, par value $0.0001 per share ("Common Stock"), of Jet.AI Inc. (the "Issuer") underlying options held by the reporting person ("Option Shares") were mistakenly included in the reporting person's 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 11 shares of Common Stock following the transactions reported in his last-filed Form 4.
(2) On November 12, 2024, the Issuer effected a 1-for-225 reverse stock split of its Common Stock (the "Reverse Split"). The 11 shares of Common Stock previously held by the reporting person were converted into less than one whole share as a result of the Reverse Split. In accordance with the terms of the Reverse Split, the Issuer cashed out fractional shares, resulting in the reporting person holding no shares of Common Stock following the Reverse Split.
(3) The exercise price, number of derivative securities, and number of underlying shares of Common Stock reported for this option reflect the Issuer's 1-for-225 Reverse Split of its Common Stock.
(4) 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.
(5) This option vests monthly in equal installments beginning on January 26, 2024.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
Jet.ai Inc. published this content on December 12, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on December 12, 2025 at 19:32 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]