{"url_path":"/sec/aert/10-k/2026/item-12","section_key":"item-12","section_title":"Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters.**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-08","source_url":"https://www.sec.gov/Archives/edgar/data/1853044/0001829126-26-006123-index.html","accession_number":"0001829126-26-006123","cik":"0001853044","ticker":"AERT","issuer_name":"Aeries Technology, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1853044/0001829126-26-006123-index.html","primary_entity_key":"0001853044","primary_entity_name":"Aeries Technology, Inc."},"word_count":1286,"has_tables":true,"body_markdown":"**Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters.**\n\n \n\nThe following table sets forth beneficial ownership of Class A ordinary shares as of June 5, 2026 by:\n\n \n\n \n●\neach person known by Aeries to be the beneficial owner of more than 5% of Aeries’ outstanding ordinary shares;\n\n \n\n \n●\neach of Aeries’ named executive officers and current directors;\n\n \n\n \n●\nall of Aeries’ current directors and executive officers as a group; and\n\n \n\n \n●\nthe Class V Shareholder.\n\n \n\nBeneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power over that security. Under those rules, beneficial ownership includes securities that the individual or entity has the right to acquire, such as through the exercise of options, within 60 days of June 5, 2026, the most recent practicable date prior to the date of this report. Shares subject to options that are currently exercisable or exercisable within 60 days of June 5, 2026 are considered outstanding and beneficially owned by the person holding such options for the purpose of computing the percentage ownership of that person but are not treated as outstanding for the purpose of computing the percentage ownership of any other person. Except as noted by footnote, and subject to community property laws where applicable, based on the information provided to Aeries, Aeries believes that the persons and entities named in the table below have sole voting and investment power with respect to all shares shown as beneficially owned by them.\n\n \n\n \n \n**Number ofClass Aordinary sharesBeneficially Owned**\n \n \n**% ofClass Aordinary sharesBeneficiallyOwned**\n \n \n**Number ofClass Vordinary sharesBeneficiallyOwned(1)**\n \n \n**% ofClass V ordinary shares BeneficiallyOwned**\n \n\n**Name and Address of Beneficial Owners**\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n**Five percent holders:**\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nVenu Raman Kumar(2)\n \n \n28,099,631\n \n \n \n59.7\n%\n \n \n \n \n \n \n \n \n\nSudhir Appukuttan Panikassery(6)\n \n \n5,151,005\n \n \n \n11.2\n%\n \n \n \n \n \n \n \n \n\nBhisham (Ajay) Khare(5)\n \n \n2,507,440\n \n \n \n5.4\n%\n \n \n \n \n \n \n \n \n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n**Class V Shareholder**\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nMeet Atul Doshi(3)\n \n \n-\n \n \n \n-\n \n \n \n1\n \n \n \n100\n%\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n**Named Executive Officers(4)**\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nBhisham (Ajay) Khare(5)\n \n \n2,507,440\n \n \n \n5.4\n%\n \n \n \n \n \n \n \n \n\nDaniel S. Webb\n \n \n962,966\n \n \n \n2.1\n%\n \n \n \n \n \n \n \n \n\nUnnikrishnan (Unni) Balakrishnan Nambiar\n \n \n414,598\n \n \n \n0.9\n%\n \n \n \n \n \n \n \n \n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n**Current Executive Officers and Directors(4)**\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nVenu Raman Kumar(2)\n \n \n28,099,631\n \n \n \n59.7\n%\n \n \n \n \n \n \n \n \n\nBhisham (Ajay) Khare(5)\n \n \n2,507,440\n \n \n \n5.4\n%\n \n \n \n \n \n \n \n \n\nAlok Kochhar\n \n \n125,000\n \n \n \n0.3\n%\n \n \n \n \n \n \n \n \n\nBiswajit Dasgupta\n \n \n125,000\n \n \n \n0.3\n%\n \n \n \n \n \n \n \n \n\nNina B. Shapiro\n \n \n125,000\n \n \n \n0.3\n%\n \n \n \n \n \n \n \n \n\nAll current executive officers and directors as a group (5 individuals)\n \n \n30,982,071\n \n \n \n65.9\n%\n \n \n \n \n \n \n \n \n\n \n\n86\n\n \n\n \n\n \n\n(1)\nWe have a dual class ordinary share structure. As of June 5, 2026, there are 45,914,789 Class A ordinary shares and 1 Class V ordinary share outstanding. In accordance with our Memorandum and Articles of Association, such the V ordinary share has no economic rights, but has voting rights equal to (1) 1.30% of the total issued and outstanding Class A ordinary shares and Class V ordinary share voting together as a single class (subject to a proportionate reduction in voting power in connection with the exchange by Mr. Kumar of AARK ordinary shares for Class A ordinary shares pursuant to the applicable Exchange Agreement); *provided, however,*that such proportionate reduction will not affect the voting rights of the Class V ordinary share in the event of (i) a threatened or actual hostile change of control and/or (ii) the appointment and removal of a director on our board of directors, and (2) in these circumstances, including the threat of a hostile change of control of Aeries, 51% of the total issued and outstanding Class A ordinary shares and Class V ordinary share voting together as a class.\n\n(2)\nIncludes (i) 5,638,530 Class A ordinary shares held directly by Innovo Consultancy DMCC, which is wholly owned by Mr. Kumar, (ii) 21,338,101 Class A ordinary shares held directly by Mr. Kumar, and (iii) the right to acquire up to 1,123,000 Class A ordinary shares pursuant to the applicable Exchange Agreement. The business address of Innovo Consultancy DMCC is Unit No: 1874, DMCC Business Centre, Level No 1, Jewellery & Gemplex 3, PO Box 62693, Dubai, United Arab Emirates.\n\n(3)\nMeet Atul Doshi is the sole beneficial owner of and has dispositive voting power of the Class V ordinary share held of record by NewGen Advisors and Consultants DWC-LLC. The Class V Shareholder is owned by a business associate of Mr. Kumar. Mr. Kumar does not have control over the Class V Shareholder, and the Class V Shareholder will not receive any compensation in connection with its ownership of the Class V ordinary share. Although the Class V Shareholder is not required by contract or otherwise to vote in a manner that is beneficial to Mr. Kumar and may vote the Class V Ordinary Share in its sole discretion, given the business relationship between the Class V Shareholder and Mr. Kumar, Mr. Kumar believes that the Class V Shareholder could protect the interests of Mr. Kumar from extraordinary events, such as a hostile takeover or board contest, prior to the exchange of all ordinary shares of AARK by Mr. Kumar. The business address of the Class V Shareholder is 707 Al Baha, Al Mankhoot, Dubai, UAE.\n\n(4)\nUnless otherwise noted, the business address of each of the directors and officers is 60 Paya Lebar Road, #08-13 Paya Lebar Square, Singapore.\n\n(5)\nIncludes (i) the right to acquire up to 851,184 Class A ordinary shares pursuant to the applicable Exchange Agreement which are issuable pursuant to the exercise of exchange rights by the ESOP Trust, for which the reporting person is a beneficiary, and assumes distribution of the underlying shares by the Aeries Employee Stock Option Trust to Mr. Khare prior to an exchange for Class A ordinary shares. During the fiscal year ended March 31, 2026, Mr. Khare exercised 59,110 stock options in accordance with the terms of the MSOP 2019 Plan and acquired 59,110 underlying shares from the ESOP Trust. (ii) vested restricted stock units which became 1,656,256 Class A ordinary shares as on 31 March 2026.\n\n(6)\nSudhir Appukuttan Panikassery passed away on September 19, 2025. This represents shares held by the estate of Mr. Panikassery.\n\n \n\n87\n\n \n\n \n\n**EQUITY COMPENSATION PLAN INFORMATION**\n\n \n\nWe maintain the following equity compensation plans under which our equity securities that have been issued or are authorized for issuance to our employees and/or directors, in each case, as amended: the Aeries Management Stock Option Plan 2019, as amended (the “2019 Plan”); the Aeries Employees Stock Option Plan 2020, as amended (the “2020 Plan”); and the Aeries Technology, Inc. 2023 Equity Incentive Plan (the “2023 Plan”). The following table presents information about these plans as of March 31, 2026.\n\n \n\n**Plan category**\n \n**Number of securities tobe issued upon exercise ofoutstanding options,warrants and rights(a)**\n \n \n**Weighted-averageexercise price ofoutstanding options, warrants and rights(b)(1)**\n \n \n**Number of securities remainingavailable for future issuance under equitycompensation plans(excluding securitiesreflected in column(a))(c)**\n \n\nEquity compensation plans approved by security holders(2)\n \n \n59,900\n(3) \n \n \n0.11\n \n \n \n4,625,159\n(4) \n\nEquity compensation plans not approved by security holders\n \n \n-\n \n \n \n-\n \n \n \n-\n \n\n**Total**\n \n \n**59,900**\n \n \n \n**0.11**\n \n \n \n**4,625,159**\n \n\n \n\n \n\n(1)\nDoes not include shares issuable upon vesting of outstanding RSUs, which have no exercise price and are included in column (a).\n\n(2)\nIncludes the 2019 Plan, the 2020 Plan and the 2023 Plan. The 2023 Plan provides that the share reserve will automatically increase on January 1st of each year, for a period of not more than 9 years, commencing on January 1, 2025 and ending on (and including) January 1, 2033, by the lesser of (a) 5% of the total number of Shares outstanding on December 31st of the immediately preceding calendar year, and (b) such number of shares determined by the Board in its sole discretion.\n\n(3)\nIncludes 59,900 options under the 2020 Plan and no options under the 2023 Plan.\n\n(4)\nConsists of shares of common stock available for future issuance under our 2023 Plan.\n\n \n\n88"}