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: RECCA MICHAEL E (Chief Financial Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-23	Stock Options	$3.43	A	21600	Acquired	2028-06-30	Common Stock (21600)	Direct
2023-05-23	Stock options	$8.30	D	10000	Disposed	2027-03-31	Common Stock (10000)	Direct
2023-05-23	Stock options	$12.20	D	12500	Disposed	2026-07-31	Common Stock (12500)	Direct
2023-05-23	Stock options	$13.90	D	7500	Disposed	2026-03-31	Common Stock (7500)	Direct
2023-05-23	Stock options	$10.30	D	10000	Disposed	2025-03-31	Common Stock (10000)	Direct
2023-05-23	Stock options	$8.80	D	9000	Disposed	2024-01-31	Common Stock (9000)	Direct
2023-05-23	Stock options	$14.20	D	5000	Disposed	2024-07-24	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	0	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 3,333 shares on each of April 12, 2022 and March 31, 2023, and 3,334 shares on March 31, 2024.

F3: Vests in equal installments of 4,167 shares on July 30, 2021, July 31, 2022 and 4,166 shares on July 31, 2023.