CPI AEROSTRUCTURES INC — Director's Dealing 2019

Apr 2, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CPI AEROSTRUCTURES INC (CVU)
CIK: 0000889348
Period of Report: 2019-03-29

Reporting Person: McCrosson Douglas (Director, President, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-03-29	Common Stock	M	25000	$6.60	Acquired	126922	Direct
2019-03-29	Common Stock	F	24628	$6.70	Disposed	102294	Direct
2019-04-02	Common Stock	D	13678	—	Disposed	88616	Direct
2019-04-02	Common Stock	A	42009	—	Acquired	130625	Direct
2019-04-02	Common Stock	F	4528	$6.53	Disposed	126097	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-03-29	Employee Stock Option (right to buy)	$6.60	M	25000	Acquired	2019-03-31	Common Stock (25000)	Direct

Footnotes

F1: Represents the forfeiture of performance-based restricted stock originally granted to the reporting person on August 2, 2016, March 1, 2017, and March 21, 2018, which were eligible to vest based on certian financial performance objectives. Upon grant, the target vesting amount was reported in Table I of Form 4. On April 2, 2019, the Company determined that, based on the Company's performance over the applicable performance period, an aggregate of 13,678 shares would be forfeited.

F2: Represents shares withheld to satisfy tax obligations.

F3: The option is exercisable with respect to 8,333 shares on April 1, 2010, with respect to an additional 8,333 shares on April 1, 2011, and with respect to the remaining 8,334 shares on April 1, 2012.