=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-05-15
10b5-1 Pre-arranged Plan: No
--- Issuer ---
Name: Archer Aviation Inc. (ACHR)
CIK: 0001824502
--- Reporting Owner ---
Name: Muniz Thomas Paul
CIK: 0001882348
Role: Officer (CHIEF TECHNOLOGY OFFICER)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Class A Common Stock
Date: 2026-05-15 | Code: M (Exercise of derivative)
Shares: +143,750 | Price: $0.00
Shares Owned After: 1,574,617 | Ownership: D (Direct)
[Transaction #2]
Security: Class A Common Stock
Date: 2026-05-15 | Code: M (Exercise of derivative)
Shares: +8,946 | Price: $0.00
Shares Owned After: 1,583,563 | Ownership: D (Direct)
[Transaction #3]
Security: Class A Common Stock
Date: 2026-05-15 | Code: M (Exercise of derivative)
Shares: +7,611 | Price: $0.00
Shares Owned After: 1,591,174 | Ownership: D (Direct)
[Transaction #4]
Security: Class A Common Stock
Date: 2026-05-15 | Code: M (Exercise of derivative)
Shares: +7,719 | Price: $0.00
Shares Owned After: 1,598,893 | Ownership: D (Direct)
[Transaction #5]
Security: Class A Common Stock
Date: 2026-05-15 | Code: S (Open market sale)
Shares: -44,740 | Price: $6.06
Total Value: $271,173.61
Shares Owned After: 1,554,153 | Ownership: D (Direct)
Footnotes:
[F1] Represents shares of Class A Common Stock sold to satisfy tax withholding obligations incurred in connection with the vesting of performance restricted stock units, which was separately reported on a Form 4 filed with the U.S. Securities and Exchange Commission on April 22, 2026.
[F2] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.005 to $6.135 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and in footnote 4 of this Form 4.
[Transaction #6]
Security: Class A Common Stock
Date: 2026-05-18 | Code: S (Open market sale)
Shares: -91,839 | Price: $5.95
Total Value: $546,690.02
Shares Owned After: 1,462,314 | Ownership: D (Direct)
Footnotes:
[F3] Represents shares of Class A Common Stock sold to satisfy tax withholding obligations incurred in connection with the vesting of restricted stock units.
[F4] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.87 to $6.13 per share, inclusive.
--- Derivative Transactions ---
[Transaction #1]
Security: Restricted Stock Units
Date: 2026-05-15 | Code: M (Exercise of derivative)
Shares: -143,750 | Price: $0.00
Shares Owned After: 575,000 | Ownership: D (Direct)
Footnotes:
[F5] Each restricted stock unit represents a contingent right to receive one share of the issuer's Class A Common Stock, subject to the reporting person's continued status as a service provider to the issuer.
[F6] The award vested or vests as to: (i) 1/4 of the total award on May 15, 2024; and (ii) 1/16 of the total award quarterly thereafter on March 1, May 15, August 15, and November 15.
[F7] These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.
[Transaction #2]
Security: Restricted Stock Units
Date: 2026-05-15 | Code: M (Exercise of derivative)
Shares: -8,946 | Price: $0.00
Shares Owned After: 62,618 | Ownership: D (Direct)
Footnotes:
[F5] Each restricted stock unit represents a contingent right to receive one share of the issuer's Class A Common Stock, subject to the reporting person's continued status as a service provider to the issuer.
[F8] The award vested or vests quarterly as to 1/16 of the total award, with the first tranche vested on May 15, 2024, and thereafter on August 15, November 15, March 1, and May 15.
[F7] These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.
[Transaction #3]
Security: Restricted Stock Units
Date: 2026-05-15 | Code: M (Exercise of derivative)
Shares: -7,611 | Price: $0.00
Shares Owned After: 45,666 | Ownership: D (Direct)
Footnotes:
[F5] Each restricted stock unit represents a contingent right to receive one share of the issuer's Class A Common Stock, subject to the reporting person's continued status as a service provider to the issuer.
[F9] The award vested or vests quarterly as to 1/12 of the total award, with the first tranche vested on March 1, 2025, and thereafter on May 15, August 15, November 15, and March 1.
[F7] These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.
[Transaction #4]
Security: Restricted Stock Units
Date: 2026-05-15 | Code: M (Exercise of derivative)
Shares: -7,719 | Price: $0.00
Shares Owned After: 77,181 | Ownership: D (Direct)
Footnotes:
[F5] Each restricted stock unit represents a contingent right to receive one share of the issuer's Class A Common Stock, subject to the reporting person's continued status as a service provider to the issuer.
[F10] The award vested or vests quarterly as to 1/12 of the total award, with the first tranche vested on March 1, 2026, and thereafter on May 15, August 15, November 15, and March 1.
[F7] These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.
--- Footnotes (Complete Index) ---
F1: Represents shares of Class A Common Stock sold to satisfy tax withholding obligations incurred in connection with the vesting of performance restricted stock units, which was separately reported on a Form 4 filed with the U.S. Securities and Exchange Commission on April 22, 2026.
F10: The award vested or vests quarterly as to 1/12 of the total award, with the first tranche vested on March 1, 2026, and thereafter on May 15, August 15, November 15, and March 1.
F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.005 to $6.135 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and in footnote 4 of this Form 4.
F3: Represents shares of Class A Common Stock sold to satisfy tax withholding obligations incurred in connection with the vesting of restricted stock units.
F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.87 to $6.13 per share, inclusive.
F5: Each restricted stock unit represents a contingent right to receive one share of the issuer's Class A Common Stock, subject to the reporting person's continued status as a service provider to the issuer.
F6: The award vested or vests as to: (i) 1/4 of the total award on May 15, 2024; and (ii) 1/16 of the total award quarterly thereafter on March 1, May 15, August 15, and November 15.
F7: These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.
F8: The award vested or vests quarterly as to 1/16 of the total award, with the first tranche vested on May 15, 2024, and thereafter on August 15, November 15, March 1, and May 15.
F9: The award vested or vests quarterly as to 1/12 of the total award, with the first tranche vested on March 1, 2025, and thereafter on May 15, August 15, November 15, and March 1.
--- Signature ---
/s/ /s/ Eric Lentell, Attorney-in-Fact for Thomas Paul Muniz (2026-05-19)
