XTI Aerospace names Unusual Machines CEO Dr. Allan Evans as board Chairman, effective Oct 14, 2026

XTI Aerospace, Inc.

Dr. Allan Evans appointed Class I director and Chairman of XTI Aerospace board effective Oct 14, 2026; Jonathan Ornstein moves to Vice Chairman.
Evans, 43, has been CEO and a director of Unusual Machines (UMAC) since Dec 2023; previously COO of Red Cat (RCAT) and CEO of Fat Shark.
Compensation: $50,000 annual cash retainer paid quarterly plus an annual stock option grant equal to the retainer's value; director services agreement pending.
Unusual Machines bought $25M of XTIA Series 10 preferred in Nov 2025; it converted Jan 5, 2026 into 1,721,980 common shares plus a 15,307,735-share pre-funded warrant.
UMAC, led by Evans, has paid XTI subsidiary Drone Nerds ~$1.1M for drone parts since Nov 10, 2025, and beneficially owns ~4.99% of XTIA.

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