AIR INDUSTRIES GROUP — Director's Dealing 2019

Feb 14, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR INDUSTRIES GROUP (AIRI)
CIK: 0001009891
Period of Report: 2019-02-13

Reporting Person: TAGLICH MICHAEL N (Director, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-13	Stock Options	$1.28	A	10000	Acquired	2025-12-31	Common Stock (10000)	Direct
2018-05-14	Stock Options	$1.59	A	13000	Acquired	2023-05-31	Common Stock (13000)	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
2015-04-16	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
2018-01-02	Stock Options (right to purchase)	$1.69	A	3000	Acquired	2022-12-31	Common Stock (3000)	Direct
2018-09-30	Convertible Notes	$1.5	J		Acquired	2020-12-31	Common Stock (866666)	Direct
2019-01-15	Convertible Notes	$0.93	P		Acquired	2020-12-31	Common Stock (107526)	Direct
2018-09-30	Convertible Notes	$1.5	J		Acquired	2020-12-31	Common Stock (254666)	Indirect
2019-01-15	Convertible Notes	$0.93	J		Acquired	2020-12-31	Common Stock (86021)	Indirect
2018-10-01	Warrants	$1.4	J	17500	Acquired	2023-09-30	Common Stock (17500)	Indirect
2014-01-01	Warrants	$8.72	A	10000	Acquired	2019-12-31	Common Stock (10000)	Indirect
2016-08-19	Warrants	$5	P	61817	Acquired	2021-07-31	Common Stock (61817)	Direct
2016-10-13	Warrants	$6.15	J	16500	Acquired	2021-05-26	Common Stock (16500)	Indirect
2016-10-13	Warrants	$6.15	J	19300	Acquired	2021-07-31	Common Stock (19300)	Direct
2016-11-23	Warrants	$3	P	88889	Acquired	2021-11-30	Common Stock (88889)	Direct
2016-12-22	Warrants	$3	P	22814	Acquired	2021-11-30	Common Stock (22814)	Direct
2017-03-15	Warrants	$3	J	19000	Acquired	2021-11-30	Common Stock (19000)	Direct
2017-11-29	Warrants	$1.5	P	48000	Acquired	2022-11-30	Common Stock (48000)	Direct
2017-03-15	Warrants	$3	J	13000	Acquired	2021-11-30	Common Stock (13000)	Direct
2017-03-15	Warrants	$4.45	J	7880	Acquired	2022-01-31	Common Stock (7880)	Direct
2017-03-15	Warrants	$3.3	J	4850	Acquired	2022-01-31	Common Stock (4850)	Direct
2017-03-15	Warrants	$3.78	J	4775	Acquired	2022-01-31	Common Stock (4775)	Direct
2017-03-21	Warrants	$4	J	964	Acquired	2022-01-31	Common Stock (964)	Direct
2017-05-12	Warrants	$1.5	P	93279	Acquired	2022-05-12	Common Stock (93279)	Direct
2017-03-15	Warrants	$3.78	J	3354	Acquired	2022-01-31	Common Stock (3354)	Indirect
2017-03-15	Warrants	$3.78	J	3354	Acquired	2022-01-31	Common Stock (3354)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3576090	Direct
Common Stock	27891	Indirect

Footnotes

F1: Includes shares previously owned by a partnership of which Reporting Person was a General Partner, received upon liquidation at the end of 2018.

F2: Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.

F3: Vests as to 2,500 shares on March 31, 2019, and an additional 2,500 shares on each of June 30, 2019, September 31, 2019 and December 31, 2019.

F4: Fully vested as of 12/31/2018.

F5: Fully vested as of 11/01/2016.

F6: Fully vested as of 01/01/2017.

F7: Represents Issuer's 6% convertible notes received pursuant to amendment to Issuer's 8% convertible notes.

F8: Does not include shares issued upon conversion for accrued interest on the Notes.

F9: Represents 6% convertible notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, pursuant to amendment to Issuer's 8% convertible notes originally issued in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 8% convertible notes.

F10: Represents 7% convertible notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, issued in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 7% convertible notes in January 2019.

F11: Represents warrants issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, for acting as placement agent for the sale of Issuer's shares of common stock in October 2018.

F12: Represents warrants received by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, pursuant to Capital Markets Advisory Agreement.

F13: Represents warrants issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, for acting as placement agent for the sale of Issuer's 8% convertible notes.

F14: Assignment of a portion of Placement Agent Warrants originally issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.

F15: Exercise price was reduced from $2.49 to $1.50 per share, the public offering price of the Issuer's common stock in the Issuer's public offering which closed on July 12, 2017, pursuant to the terms of the warrant.

F16: Represents warrants received by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, which acted as placement agent for the sale of Issuer's 8% convertible notes, in lieu of cash payment of commissions.