Hexstone Capital LLC and its managing member Brendan O'Neil filed Amendment No. 1 to their Schedule 13G with the SEC on November 6, 2026, disclosing that their beneficial ownership of Jet.AI Inc. common stock has fallen below 5 percent, constituting an exit filing.

Key Highlights

  • Exit filing: The amendment constitutes an exit filing for both Hexstone Capital LLC and Brendan O'Neil, as each has ceased to be the beneficial owner of more than 5 percent of Jet.AI Inc. common stock.
  • Shares held: Hexstone Capital LLC holds 72,429 shares of Jet.AI Inc. common stock, par value $0.0001 per share.
  • Ownership percentage: The 72,429 shares represent 2.04% of the class, based on 3,557,521 shares outstanding as of August 11, 2026.
  • Shared voting and dispositive power: Both Hexstone and Mr. O'Neil report shared voting power and shared dispositive power of 72,429 shares each, with zero sole voting or dispositive power.
  • Triggering event date: The date of the event requiring this filing is September 30, 2026.
  • Reporting persons: Hexstone Capital LLC is a Nevada limited liability company; Brendan O'Neil, a U.S. citizen, is its managing member and may be deemed to beneficially own the shares held by Hexstone under Rule 13d-3.

Hexstone Capital and O'Neil Drop Below 5% Threshold in Jet.AI

According to the filing, Hexstone Capital LLC and Brendan O'Neil submitted Amendment No. 1 to their Schedule 13G to update beneficial ownership information and to reflect that neither reporting person continues to hold more than 5 percent of Jet.AI Inc.'s outstanding common stock. The original Schedule 13G was filed with the SEC on July 9, 2026, and the two reporting persons entered into a Joint Filing Agreement at that time to file jointly.

The filing discloses that Hexstone holds 72,429 shares of common stock and that voting and dispositive power over those shares may be exercised by Mr. O'Neil in his capacity as managing member. Mr. O'Neil does not directly own the shares, but the filing states that "by reason of the provisions of Rule 13d-3 of the Act, Mr. O'Neil may be deemed to beneficially own the Shares." The ownership percentage of 2.04% for each reporting person is calculated against 3,557,521 shares outstanding as of August 11, 2026, a figure sourced from Jet.AI's Form 10-Q for the quarterly period ended June 30, 2026, filed with the SEC on August 14, 2026.

The principal business address for both reporting persons is listed as 3053 Fillmore St, Suite 303, San Francisco, CA 94123. The filing certifies that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer. Item 5 of the amendment confirms ownership of 5 percent or less of the class, and Item 6 states that ownership on behalf of another person is not applicable.

What Was Disclosed

Hexstone Capital LLC and Brendan O'Neil filed a Schedule 13G amendment on November 6, 2026, reporting 72,429 shares of Jet.AI Inc. common stock, equal to 2.04% of outstanding shares, and designating the filing as an exit filing after ownership fell below the 5 percent threshold.