Form 4: Aeries Tech CEO Boosts Direct Share Ownership

Aeries Technology, Inc. CEO Bhisham Khare converted 59,110 Aeries ordinary shares into 851,184 Class A ordinary shares, increasing his direct beneficial ownership.

Summary

• Bhisham Khare, Chief Executive Officer and Director of Aeries Technology, Inc. (AERT), exercised an exchange right on September 22, 2025.
• Mr. Khare converted 59,110 ordinary shares of Aeries (a private entity) into 851,184 Class A ordinary shares of Aeries Technology, Inc.
• The exchange rate was 14.40 Class A Ordinary Shares for each Aeries Share, with a transaction price of $0 per share as it was an exchange.
• Following this transaction, Mr. Khare's direct beneficial ownership of Class A Ordinary Shares increased to 2,507,440.
• The transaction was executed pursuant to an Exchange Agreement dated November 6, 2023, which stipulated conditions for the exchange.
• The conditions for exercising the exchange right were satisfied as of March 26, 2024, allowing Mr. Khare to exchange 100% of his Aeries Shares after April 1, 2024.
• Upon Mr. Khare's exercise of the Aeries Shares Put Exchange Right, the Issuer's corresponding Aeries Shares Call Exchange Right was terminated.

Sentiment

Score: 7

Explanation: The CEO's exercise of an exchange right to convert private company shares into public company shares increases his direct stake, which is generally viewed positively by investors as it aligns management's interests with shareholders.

Positives

• CEO Bhisham Khare significantly increased his direct beneficial ownership of Aeries Technology, Inc. Class A Ordinary Shares by 851,184 shares.
• The exercise of the exchange right demonstrates the CEO's commitment and direct stake in the public company's equity, aligning his interests with those of public shareholders.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The exchange of Aeries ordinary shares for Aeries Technology, Inc. Class A ordinary shares by CEO Bhisham Khare, pursuant to an Exchange Agreement dated November 6, 2023, represents a transaction between a key executive and the issuer.

Stakeholder Impact

• Shareholders: The increased direct equity ownership by the CEO enhances alignment of management's interests with those of public shareholders.
• Employees: Footnote 3 indicates that some Class A Ordinary Shares are issuable pursuant to exchange rights with respect to Aeries Shares held by the Aeries Employee Stock Option Trust (ESOP Trust), for which the reporting person is a beneficiary, suggesting potential future exchanges for other beneficiaries.

Key Dates

Recommendation

The CEO's decision to convert private shares into public equity increases his direct stake, signaling confidence and aligning his interests with shareholders. While positive, this single transaction does not fundamentally alter the company's financial outlook or strategic position to warrant a stronger recommendation without further analysis of the company's performance and market conditions.

Keywords

Aeries Technology, AERT, Bhisham Khare, Insider Transaction, Share Exchange, CEO, Beneficial Ownership, Form 4