AIR INDUSTRIES GROUP — Director's Dealing 2017

Feb 13, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR INDUSTRIES GROUP (AIRI)
CIK: 0001009891
Period of Report: 2017-02-07

Reporting Person: TAGLICH ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-06-29	Common Stock	M	3000	$2.95	Acquired	377903	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-06-02	Stock Options (right to purchase)	$4.64	A	750	Acquired	2021-06-01	Common Stock (750)	Direct
2016-08-19	Warrants	$5	P	2436	Acquired	2021-07-31	Common Stock (2436)	Indirect
2016-11-23	Convertible Notes	$2.25	P		Acquired	2018-11-30	Common Stock (44444)	Direct
2016-11-30	Convertible Note	$	C		Disposed	2017-12-31	Common Stock ()	Direct
2016-11-30	Convertible Note	$	C		Disposed	2017-12-31	Common Stock ()	Indirect
2016-11-30	Series A Preferred Stock	$4.92	C	23291	Acquired		Common Stock (47338)	Direct
2016-11-30	Series A Preferred Stock	$4.92	C	6036	Acquired		Common Stock (12268)	Indirect
2016-12-22	Convertible Notes	$2.63	P		Acquired	2018-11-30	Common Stock (76045)	Direct
2016-12-22	Warrants	$3	P	15210	Acquired	2021-11-30	Common Stock (15210)	Direct
2016-12-22	Warrants	$3	P	44677	Acquired	2021-11-30	Common Stock (44677)	Indirect
2017-02-07	Convertible Notes	$3.71	P		Acquired	2019-01-31	Common Stock (67386)	Direct
2017-02-07	Warrants	$3.71	P	19230	Acquired	2022-01-31	Common Stock (19230)	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: Custodian for children under NY UGMA.

F4: Converted into shares of Series A Convertible Preferred Stock ("Series A Preferred Stock") at $10 per share upon filing of Certificate of Amendment increasing number of authorized shares of Preferred Stock. Until automatically converted into shares of Series A Preferred Stock, the Note had been convertible into shares of Common Stock at an exercise price of $4.92 per share, the conversion price of the Series A Preferred Stock.

F5: Includes shares received in lieu of cash dividends on December 15, 2016.

F6: There is no expiration date.

F7: Represents Placement Agent Warrants received by Taglich Brothers, Inc., of which the Reporting Person is Managing Director, which acted as placement agent for the sale of Issuer's 8% Subordinated Convertible Notes in December 2016.