Jet.AI Implements 10% Trigger Rights Plan, Expires February 2027
Jet.AI declared a dividend of one preferred share purchase right per common share under a limited-duration rights agreement effective Feb 24, 2026, exercisable if any party acquires 10% or more of outstanding stock. Rights are redeemable at $0.01 before triggering and expire Feb 12, 2027 unless earlier redeemed or exchanged.
1. Rights Agreement Adoption
On February 13, 2026, Jet.AI’s Board adopted a limited-duration stockholder rights agreement and declared a dividend distribution of one preferred share purchase right for each outstanding common share, payable February 24, 2026.
2. Trigger and Exercise Terms
Each right becomes exercisable if any person or group acquires 10% or more of the Company’s outstanding common stock, entitling holders (excluding the acquirer) to purchase common shares with twice the market value at the exercise price.
3. Redemption and Expiration
Prior to a 10% acquisition threshold, the Board may redeem each right for $0.01; unexercised rights will expire on February 12, 2027 unless earlier redeemed or exchanged.
4. Strategic Rationale
The plan is structured to ensure fair and equal treatment of all shareholders in a takeover scenario and to encourage prospective acquirers to negotiate directly with the Board before seeking control.