An amended Form 3 (Form 3/A) was filed on November 3, 2026 by Peter Carr, CEO and Director of Air Water Ventures Ltd (NASDAQ:WATR), correcting his initial beneficial ownership statement originally filed on August 14, 2026.

Key Highlights

  • Total beneficial ownership corrected: The amendment reports 1,853,124 ordinary shares directly owned by Peter Carr, up from the previously reported figure due to a correction in PSU count.
  • RSU grant: 1,131,124 restricted stock units were granted on August 14, 2026, vesting in three equal annual installments on November 1, 2026, November 1, 2027, and November 1, 2028.
  • PSU correction: The amendment corrects the PSU count from 717,856 to 722,000 performance-based restricted stock units granted under the same RSU Agreement.
  • PSU vesting conditions: The 722,000 PSUs vest in four equal tranches of 180,500 PSUs tied to revenue, EBITDA, and share price triggering events through June 30, 2028.
  • Share price trigger: One PSU tranche requires an ordinary share price of at least $20.00 for 30 of 45 days on or before June 30, 2028, subject to equitable adjustment.
  • Foreign private issuer exemption: According to the filing, Carr's transactions are exempt from Sections 16(b) and 16(c) of the Act due to the issuer's status as a foreign private issuer under Rule 3a12-3(b).

Peter Carr's Amended Beneficial Ownership at Air Water Ventures Ltd

Peter Carr, serving as both CEO and Director of Air Water Ventures Ltd, filed an amended Form 3/A on November 3, 2026 to correct errors in his original Form 3, which was filed on August 14, 2026. According to the filing, the amendment corrects the number of performance-based restricted stock units (PSUs) reported from 717,856 to 722,000, and also corrects the vesting schedule of the RSUs and the vesting conditions of the PSUs. The result is a total reported beneficial ownership of 1,853,124 ordinary shares held directly.

The filing states that 1,131,124 of those shares represent restricted stock units (RSUs) granted on August 14, 2026 under a Restricted Stock Unit and Performance-Based Restricted Stock Unit Agreement between Air Water Ventures Holdings Limited and Carr. The RSUs vest in three equal annual installments on November 1, 2026, November 1, 2027, and November 1, 2028, contingent on Carr's continuous employment through each vesting date. Each RSU represents the right to receive one ordinary share of the issuer.

The remaining 722,000 units are PSUs, also granted under the same agreement. According to the filing, these vest in four equal tranches of 180,500 PSUs upon specific triggering events: a Revenue Run Rate of at least $80,000,000 in the second half of 2027; an EBITDA Run Rate of at least $30,000,000 in the second half of 2027; a Revenue Run Rate of at least $160,000,000 and an EBITDA Run Rate of at least $70,000,000 in the first half of 2028; and an ordinary share price of at least $20.00 for 30 of 45 days on or before June 30, 2028, subject to equitable adjustment. Each PSU also represents the right to receive one ordinary share.

What Was Disclosed

Peter Carr filed an amended initial beneficial ownership statement for Air Water Ventures Ltd, correcting his PSU count to 722,000 and his vesting schedule details, bringing his total directly owned beneficial interest to 1,853,124 ordinary shares as of the August 14, 2026 event date.