June 30, 2025 · Form 4 insider transaction
Merker Brian Frederick bought 42,974 shares of HOVR at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 2 days after the transaction.
The reporting person was granted a short-term incentive cash bonus ("STIP") by the Issuer's board of directors (the "Board") on February 3, 2025 in recognition of the reporting person's performance in his service to the Issuer during 2024, to be paid in the form of equity at a future date. On June 30, 2025, the Board approved the issuance of the Class A ordinary shares issuable pursuant to the STIP at a deemed price per share of $0.61, which was the closing price of the Class A ordinary shares on the date of the grant of the STIP.