Sec Form 4 Filing - MCNULTY PATRICK @ Jet.AI Inc. - 2023-08-10

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person MCNULTY PATRICK 2. Issuer Name and Ticker or Trading Symbol Jet.AI Inc. [ JTAI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) CHIEF OPERATING OFFICER (Last) (First) (Middle) 10845 GRIFFITH PEAK DRIVE, SUITE 200 3. Date of Earliest Transaction (MM/DD/YY) 08/10/2023 (Street) LAS VEGAS, NV89135 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price COMMON STOCK, PAR VALUE $0.0001 PER SHARE 08/10/2023 A 4 A 4 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares STOCK OPTION (RIGHT TO BUY) $ 10.42 08/10/2023 A 3,095 08/10/2023 08/02/2031 COMMON STOCK PAR VALUE $0.0001 PER SHARE 3,095 ( 1 ) 3,095 D STOCK OPTION (RIGHT TO BUY) $ 10.42 08/10/2023 A 12,378 ( 2 ) 07/01/2031 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 12,378 ( 1 ) 12,378 D STOCK OPTION (RIGHT TO BUY) $ 10.42 08/10/2023 A 15,473 08/10/2023 07/01/2031 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 15,473 ( 1 ) 15,473 D STOCK OPTION (RIGHT TO BUY) $ 10.42 08/10/2023 A 30,945 ( 3 ) 10/31/2031 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 30,945 ( 1 ) 30,945 D STOCK OPTION (RIGHT TO BUY) $ 10.42 08/10/2023 A 30,945 ( 4 ) 01/05/2032 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 30,945 ( 1 ) 30,945 D STOCK OPTION (RIGHT TO BUY) $ 10.42 08/10/2023 A 3,961 08/10/2023 03/01/2032 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 3,961 ( 1 ) 3,961 D STOCK OPTION (RIGHT TO BUY) $ 10.42 08/10/2023 A 7,736 08/10/2023 08/31/2032 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 7,736 ( 1 ) 7,736 D STOCK OPTION (RIGHT TO BUY) $ 10.42 08/10/2023 A 15,473 08/10/2023 09/30/2032 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 15,473 ( 1 ) 15,473 D MERGER CONSIDERATION WARRANT (RIGHT TO BUY) $ 15 08/10/2023 A 6 08/10/2023 08/10/2033 COMMON STOCK, PAR VALUE $0.0001 PER SHARE 6 ( 1 ) 6 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other MCNULTY PATRICK 10845 GRIFFITH PEAK DRIVE SUITE 200 LAS VEGAS, NV89135 CHIEF OPERATING OFFICER Signatures /S/ PATRICK MCNULTY 08/23/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Received in connection with Oxbridge Acquisition Corp.'s business combination transaction with Jet Token Inc. in accordance with the terms of the Business Combination Agreement and Plan ofReorganization, dated February 24, 2023, as amended by Amendment No. 1 to the Business Combination Agreement, dated May 11, 2023, by and among Oxbridge Acquisition Corp., OXAC Merger Sub I, Inc., Summerlin Aviation LLC, and Jet Token Inc. ( 2 )8,940 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the first day of each month, subject to the Reporting Person's continued service. ( 3 )18,911 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the first day of each month, subject to the Reporting Person's continued service. ( 4 )17,192 shares were vested as of August 10, 2023, and the remaining shares will vest in as nearly equal as possible monthly installments on the fifth day of each month, subject to the Reporting Person's continued service.

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