Form 4: Aeries Technology CRO & COO Americas, Bhisham Khare, Executes Exchange Rights for Class A Ordinary Shares

Bhisham Khare, CRO & COO Americas of Aeries Technology, exercised put and call exchange rights related to Aeries Shares for Class A Ordinary Shares, as per the Exchange Agreement.

Summary

• Bhisham Khare, the CRO & COO Americas of Aeries Technology, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The filing pertains to the exercise of put and call exchange rights related to Aeries Shares for Class A Ordinary Shares of the Issuer, as per the Exchange Agreement dated November 6, 2023.
• On March 26, 2024, the exercise conditions for these exchange rights were met.
• Khare has the right to exchange up to 20% of the Aeries Shares as of the filing date and 100% on or after April 1, 2024.
• The exchange rate is approximately 14.40 Class A Ordinary Shares for each Aeries Share.
• The filing also reflects Class A Ordinary Shares issuable pursuant to the exercise of exchange rights with respect to Aeries Shares held by the Aeries Employee Stock Option Trust (ESOP Trust), for which Khare is a beneficiary.
• A total of 59,110 Aeries Shares Put Exchange Rights and 59,110 Aeries Shares Call Exchange Rights were transacted.
• Following the reported transactions, Khare directly owns 59,110 Aeries Shares Put Exchange Rights and 59,110 Aeries Shares Call Exchange Rights.
• Khare indirectly owns 59,110 Aeries Shares Put Exchange Rights and 59,110 Aeries Shares Call Exchange Rights through the ESOP Trust.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a planned transaction rather than an unexpected event. The exercise of exchange rights is part of an existing agreement.

Positives

• The exercise of exchange rights indicates confidence in the company's future prospects by a key executive.

Future Outlook

The reporting person has the right to exchange up to 20% of the Aeries Shares as of the date of this Form 4, and on and after April 1, 2024, the reporting person has the right to exchange 100% of the Aeries Shares.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which can be a signal to the market about management's view of the company's prospects.

Stakeholder Impact

• The transaction could have a minor impact on shareholders due to the potential dilution from the issuance of Class A Ordinary Shares.

Key Dates