X0201 4 2003-09-16 0 0000932110 KITTY HAWK INC KTHK 0001197321 SKARR TOBY PO BOX 612787 1515 WEST 20TH STREET DFW AIRPORT TX 75261 0 1 0 0 VP and General Manager Stock Option (right to buy) 0.3 2003-09-16 4 A 0 300000 A 2013-07-30 Common Stock 300000 300000 D The stock option was granted on July 30,2003 pursuant to the terms of the Kitty Hawk 2003 Long Term Equity Incentive Plan (the "Plan"), adopted by the Board of Directors of Kitty Hawk, Inc. (the "Issuer") on July 29, 2003, subject to the approval of the Plan by the Issuer's stockholders. The Issuer's stockholders approved the Plan on September 16, 2003. Of the 300,000 shares of Common Stock issuable upon exercise of the stock option, 62,500 shares vested on July 30, 2003 and the remaining 237,500 shares vest in 38 equal monthly installments, beginning on September 1, 2003. Not applicable. /s/Toby Skaar 2003-09-18