AIR T INC — Director's Dealing 2014

Oct 14, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR T INC (AIRT)
CIK: 0000353184
Period of Report: 2014-10-10

Reporting Person: AO Partners I, LP (Director, CEO, 10% Owner)
Reporting Person: AO Partners LLC (10% Owner)
Reporting Person: Swenson Nicholas John (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-10-10	Common Stock	P	2000	$12.8073	Acquired	631291	Direct
2014-10-13	Common Stock	P	2500	$12.4755	Acquired	633791	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$8.62	2022-08-30	Common Stock (2500)	2500	Direct

Footnotes

F1: The reported securities are owned directly by Nicholas J. Swenson, as a Director, Chairman and CEO of the issuer.

F2: The reported securities are owned directly by AO Partners I. L.P., and indirectly by AO Partners, LLC, as General Partner of AO Partners I. L.P., and Nicholas J. Swenson as Managing Member of AO Partners, LLC, AO Partners, LLC and Nicholas J. Swenson disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein.

F3: The price in Column 4 is a weighted average price. The prices actually paid ranged from $12.65 to $12.89. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

F4: The price in Column 4 is a weighted average price. The prices actually paid ranged from $12.40 to $12.85. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.