AIR T INC — Director's Dealing 2021

Jan 29, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR T INC (AIRT)
CIK: 0000353184
Period of Report: 2021-01-27

Reporting Person: Swenson Nicholas John (Director, CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-01-27	Common Stock	P	500	$20.25	Acquired	937584	Indirect
2021-01-28	Common Stock	P	1874	$20.2497	Acquired	939458	Indirect
2021-01-29	Common Stock	P	1292	$20.25	Acquired	940750	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	59170	Direct
Common Stock	94938	Indirect
Common Stock	53301	Indirect
Common Stock	169806	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock	$8.62	2022-08-30	Common Stock (3750)	3750	Direct

Footnotes

F1: The purchases reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 31, 2020.

F2: The price reported in Column 4 is a weighted average price. The prices actually received ranged from $20.24 to $20.25. 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 a weighted average price.

F3: 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. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F4: The reported securities are owned directly by Glenhurst Co., a Minnesota corporation, wholly owned by Nicholas J. Swenson.

F5: The reported securities are owned directly by Groveland Capital, LLC and indirectly by Nicholas J. Swenson as the sole managing member and president of Groveland Capital, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F6: The reported securities are owned directly by Groveland DST, LLC and indirectly by Nicholas J. Swenson as the sole managing member and president of Groveland DST, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.