AIR INDUSTRIES GROUP — Director's Dealing 2017

Aug 4, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR INDUSTRIES GROUP (AIRI)
CIK: 0001009891
Period of Report: 2017-08-03

Reporting Person: TAGLICH ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-08-03	Common Stock	A	41529	$1.36	Acquired	419432	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-10	Stock Options	$6	A	3000	Acquired	2017-09-10	Common Stock (3000)	Direct
2013-04-23	Stock Options	$6	A	750	Acquired	2018-04-23	Common Stock (750)	Direct
2013-09-30	Stock Options	$7.86	A	750	Acquired	2018-09-30	Common Stock (750)	Direct
2013-12-31	Stock Options	$8.98	A	750	Acquired	2018-12-31	Common Stock (750)	Direct
2014-03-31	Stock Options	$9.38	A	750	Acquired	2019-03-31	Common Stock (750)	Direct
2014-05-16	Stock Options	$11.73	A	750	Acquired	2019-05-15	Common Stock (750)	Direct
2014-08-21	Stock Options	$9.24	A	750	Acquired	2019-08-20	Common Stock (750)	Direct
2014-11-24	Stock Options	$10.26	A	1750	Acquired	2019-11-23	Common Stock (1750)	Direct
2015-04-06	Stock Options	$10.05	A	3000	Acquired	2020-04-05	Common Stock (3000)	Direct
2016-06-02	Stock Options	$4.64	A	3000	Acquired	2021-06-01	Common Stock (3000)	Direct
2017-02-28	Convertible Notes	$2.25	J		Acquired	2018-11-30	Common Stock (955)	Direct
2017-02-28	Convertible Notes	$2.63	J		Acquired	2018-11-30	Common Stock (1725)	Direct
2017-03-15	Series A Preferred Stock	$4.92	J	3448	Acquired		Common Stock (1696)	Direct
2017-03-15	Series A Preferred Stock	$4.92	J	234	Acquired		Common Stock (115)	Indirect
2017-02-07	Convertible Notes	$3.71	P		Acquired	2019-01-31	Common Stock (67386)	Direct
2017-03-08	Convertible Notes	$3.3	P		Acquired	2019-01-31	Common Stock (30303)	Direct
2017-05-12	Convertible Notes	$2.49	P		Acquired	2018-05-12	Common Stock (310930)	Direct
2016-11-23	Convertible Notes	$2.25	J		Acquired	2018-11-30	Common Stock (49778)	Indirect
2016-12-22	Convertible Notes	$2.63	J		Acquired	2018-11-30	Common Stock (35742)	Indirect
2017-02-28	Convertible Notes	$	J		Acquired	2018-11-30	Common Stock (1880)	Indirect
2017-02-07	Convertible Notes	$3.71	J		Acquired	2019-01-31	Common Stock (5391)	Indirect
2017-02-17	Convertible Notes	$3.25	J		Acquired	2019-01-31	Common Stock (18462)	Indirect
2017-03-08	Convertible Notes	$3.3	J		Acquired	2019-01-31	Common Stock (13455)	Indirect
2017-03-15	Convertible Notes	$3.78	J		Acquired	2019-01-31	Common Stock (11535)	Indirect
2017-03-22	Convertible Notes	$4	J		Acquired	2019-01-31	Common Stock (2000)	Indirect
2016-08-19	Warrants	$5	P	8307	Acquired	2021-07-31	Common Stock (8307)	Direct
2016-10-13	Warrants	$6.15	J	13500	Acquired	2021-05-26	Common Stock (13500)	Direct
2016-10-13	Warrants	$6.15	J	15925	Acquired	2021-07-31	Common Stock (15925)	Direct
2016-11-23	Warrants	$3	P	8889	Acquired	2021-11-30	Common Stock (8889)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17990	Indirect
Common Stock	12746	Indirect

Footnotes

F1: Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Managing Director.

F2: Owned by Tag/Kent Partners, of which Reporting Person is a General Partner.

F3: Fully vested as of 11/01/2016.

F4: Fully vested as of 01/01/2016.

F5: Represents convertible notes received in lieu of cash payment of accrued interest on February 28, 2017.

F6: Represents shares received in lieu of cash dividends on March 15, 2017.

F7: There is no expiration date.

F8: Custodian for children under NY UGMA.

F9: Represents Issuer's 8% Subordinated Convertible Notes due November 30, 2018 (the "2018 Notes") issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2018 Notes in November 2016.

F10: Represents 2018 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2018 Notes in December 2016.

F11: Exercise price is $2.25 per share as to $2,406 principal amount of 2018 Notes and $2.63 per share as $2,132 principal amount of 2018 Notes issued in lieu of cash payment of accrued interest on the 2018 Notes issued in November and December 2016, respectively.

F12: Represents 2018 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of accrued interest on the 2018 Notes.

F13: Represents Issuer's 8% Subordinated Convertible Notes due January 31, 2019 (the "2019 Notes") issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on February 7, 2017.

F14: Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on February 17, 2017.

F15: Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 8, 2017.

F16: Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 15, 2017.

F17: Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 21, 2017.

F18: Assignment of a portion of Placement Agent Warrants originally issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director.