Form 4: New Horizon Aircraft CFO Awarded Equity Bonus for 2024 Performance

New Horizon Aircraft Ltd.'s Chief Financial Officer, Brian Frederick Merker, was granted 42,974 Class A Ordinary Shares as a short-term incentive bonus for his 2024 performance.

Summary

• Brian Frederick Merker, Chief Financial Officer of New Horizon Aircraft Ltd. (HOVR), acquired 42,974 Class A Ordinary Shares.
• The shares were granted as a short-term incentive cash bonus (STIP) in recognition of his performance during 2024.
• The Issuer's Board of Directors approved the STIP on February 3, 2025.
• The shares were issued on June 30, 2025, at a deemed price of $0.61 per share, which was the closing price on the STIP grant date.
• Following this transaction, Brian Frederick Merker beneficially owns a total of 75,325 Class A Ordinary Shares.

Sentiment

Score: 7

Explanation: The grant of equity to a key executive for performance recognition is generally viewed positively as it aligns management's interests with shareholders and rewards past performance.

Positives

• Recognition of the Chief Financial Officer's strong performance in 2024 through an equity grant.
• The issuance of shares as an incentive aligns the Chief Financial Officer's interests with those of the shareholders.
• The transaction reflects the company's commitment to performance-based compensation for key executives.

Future Outlook

NA

Management Comments

• The Board of Directors approved the short-term incentive cash bonus (STIP) in recognition of the reporting person's performance in his service to the Issuer during 2024.

Industry Context

The practice of granting equity as a performance incentive is a common and established component of executive compensation packages across various industries, including the aerospace and aviation sector. Such grants aim to align the interests of key management personnel with the long-term success and shareholder value creation of the company.

Comparison to Industry Standards

• The grant of equity as a performance incentive is a standard practice for executive compensation in publicly traded companies, aligning management interests with shareholder value.
• While specific compensation amounts vary widely based on company size, industry, and individual performance, the mechanism of equity-based bonuses is consistent with global benchmarks for executive remuneration.
• Without specific compensation data for comparable CFO roles at similar-sized aerospace companies (e.g., Joby Aviation, Archer Aviation, Lilium), a direct quantitative comparison of the grant's value is not feasible from this document alone.

Corporate Governance

Related Party Transactions

• The transaction involves the issuance of equity to Brian Frederick Merker, the Chief Financial Officer, as a form of compensation.

Stakeholder Impact

• Shareholders: The equity grant aligns the CFO's interests with shareholders, potentially encouraging long-term value creation.
• Employees: May signal a performance-driven culture within the company.
• Management: The CFO is directly rewarded for past performance, potentially boosting morale and retention.

Key Dates

Keywords

New Horizon Aircraft, HOVR, Brian Merker, Chief Financial Officer, CFO, Equity Grant, Stock Award, Executive Compensation, Short-Term Incentive Plan, STIP, Insider Transaction, SEC Form 4