AIR INDUSTRIES GROUP — Director's Dealing 2023

May 25, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR INDUSTRIES GROUP (AIRI)
CIK: 0001009891
Period of Report: 2023-05-23

Reporting Person: Melluzzo Luciano M (President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-23	Stock options	$3.43	A	48000	Acquired	2028-06-30	Common Stock (48000)	Direct
2023-05-23	Stock options	$8.30	D	20000	Disposed	2027-03-31	Common Stock (20000)	Direct
2023-05-23	Stock options	$12.20	D	18000	Disposed	2026-07-31	Common Stock (18000)	Direct
2023-05-23	Stock options	$13.90	D	15000	Disposed	2026-03-31	Common stock (15000)	Direct
2023-05-23	Stock options	$10.30	D	20000	Disposed	2025-03-31	Common stock (20000)	Direct
2023-05-23	Stock options	$8.80	D	20000	Disposed	2024-01-31	Common Stock (20000)	Direct
2023-05-23	Stock options	$15.00	D	27000	Disposed	2024-09-30	Common stock (27000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	100000	Direct

Footnotes

F1: The reporting person and the issuer agreed to a stock option exchange whereby the reporting person exchanged all of his outstanding vested and unvested stock options for an immediately vested stock option to purchase a lesser number of shares than the aggregate number of shares subject to his outstanding stock options, with a modified exercise price and exercise period.

F2: Vests as to 6,667 shares on each of April 12, 2022 and March 31, 2023, and 6,666 shares on March 31, 2024.

F3: Vests in equal installments of 6,000 shares on July 30, 2021, July 31, 2022 and July 31, 2023.