FTAI Aviation Ltd. — Director's Dealing 2021

Mar 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Fortress Transportation & Infrastructure Investors LLC (FTAI)
CIK: 0001590364
Period of Report: 2021-03-16

Reporting Person: Nicholson Kenneth J. (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-16	Stock Option (right to buy)	$12.72	A	225	Acquired	2030-07-06	Common Stock, par value $0.01 per share (225)	Direct
2021-03-16	Stock Option (right to buy)	$12.71	A	75	Acquired	2030-07-07	Common Stock, par value $0.01 per share (75)	Direct
2021-03-16	Stock Option (right to buy)	$12.94	A	71	Acquired	2030-07-08	Common Stock, par value $0.01 per share (71)	Direct
2021-03-16	Stock Option (right to buy)	$12.94	A	71	Acquired	2030-07-13	Common Stock, par value $0.01 per share (71)	Direct
2021-03-16	Stock Option (right to buy)	$13.27	A	69	Acquired	2030-07-14	Common Stock, par value $0.01 per share (69)	Direct
2021-03-16	Stock Option (right to buy)	$14.75	A	950	Acquired	2030-07-29	Common Stock, par value $0.01 per share (950)	Direct
2021-03-16	Stock Option (right to buy)	$14.49	A	68	Acquired	2030-07-30	Common Stock, par value $0.01 per share (68)	Direct
2021-03-16	Stock Option (right to buy)	$14.86	A	198	Acquired	2030-07-31	Common Stock, par value $0.01 per share (198)	Direct
2021-03-16	Stock Option (right to buy)	$15.10	A	63	Acquired	2030-08-04	Common Stock, par value $0.01 per share (63)	Direct
2021-03-16	Stock Option (right to buy)	$14.89	A	195	Acquired	2030-08-05	Common Stock, par value $0.01 per share (195)	Direct
2021-03-16	Stock Option (right to buy)	$15.00	A	259	Acquired	2030-08-06	Common Stock, par value $0.01 per share (259)	Direct
2021-03-16	Stock Option (right to buy)	$15.72	A	248	Acquired	2030-08-07	Common Stock, par value $0.01 per share (248)	Direct
2021-03-16	Stock Option (right to buy)	$16.83	A	696	Acquired	2030-08-10	Common Stock, par value $0.01 per share (696)	Direct
2021-03-16	Stock Option (right to buy)	$16.90	A	870	Acquired	2030-08-11	Common Stock, par value $0.01 per share (870)	Direct
2021-03-16	Stock Option (right to buy)	$16.93	A	816	Acquired	2030-08-12	Common Stock, par value $0.01 per share (816)	Direct
2021-03-16	Stock Option (right to buy)	$16.95	A	358	Acquired	2030-08-13	Common Stock, par value $0.01 per share (358)	Direct
2021-03-16	Stock Option (right to buy)	$17.06	A	178	Acquired	2030-08-14	Common Stock, par value $0.01 per share (178)	Direct
2021-03-16	Stock Option (right to buy)	$16.98	A	298	Acquired	2030-08-17	Common Stock, par value $0.01 per share (298)	Direct
2021-03-16	Stock Option (right to buy)	$17.27	A	176	Acquired	2030-08-18	Common Stock, par value $0.01 per share (176)	Direct
2021-03-16	Stock Option (right to buy)	$16.77	A	364	Acquired	2030-08-19	Common Stock, par value $0.01 per share (364)	Direct
2021-03-16	Stock Option (right to buy)	$16.63	A	369	Acquired	2030-08-20	Common Stock, par value $0.01 per share (369)	Direct
2021-03-16	Stock Option (right to buy)	$16.72	A	183	Acquired	2030-08-21	Common Stock, par value $0.01 per share (183)	Direct
2021-03-16	Stock Option (right to buy)	$16.59	A	117	Acquired	2030-08-25	Common Stock, par value $0.01 per share (117)	Direct
2021-03-16	Stock Option (right to buy)	$16.92	A	230	Acquired	2030-08-26	Common Stock, par value $0.01 per share (230)	Direct
2021-03-16	Stock Option (right to buy)	$16.62	A	941	Acquired	2030-08-27	Common Stock, par value $0.01 per share (941)	Direct
2021-03-16	Stock Option (right to buy)	$16.10	A	548	Acquired	2030-08-28	Common Stock, par value $0.01 per share (548)	Direct
2021-03-16	Stock Option (right to buy)	$16.04	A	181	Acquired	2030-08-31	Common Stock, par value $0.01 per share (181)	Direct
2021-03-16	Stock Option (right to buy)	$16.03	A	4182	Acquired	2030-09-01	Common Stock, par value $0.01 per share (4182)	Direct

Footnotes

F1: Tandem awards correspond on a one-to-one basis with options granted to FIG LLC, the Company's manager (or an affiliate of the Company's manager), such that exercise by an employee of the tandem award would result in the corresponding option held by the manager being cancelled. Upon the grant of options to the manager (or an affiliate), such options are fully vested and become exercisable over a 30-month period (the "Total Exercisability Period") in monthly installments beginning on the first of each month following the month in which the options were granted. (Continued in Footnote 2)

F2: When tandem awards are granted with respect to manager options, the manager options become exercisable in monthly installments over a portion of the Total Exercisability Period equal to the product of (i) the ratio of manager options not subject to corresponding tandem options to the total number of manager options (including manager options underlying such tandem awards subject to corresponding tandem options) multiplied by (ii) 30 (such period, the "Manager Exercisability Period"). Following the Manager Exercisability Period, the tandem awards vest in monthly installments on the first of each month over the remainder of the Total Exercisability Period and become exercisable only at the end of the Total Exercisability Period.

F3: Represents the expiration date of the related manager option. In general, the expiration date of the tandem award occurs prior to the expiration date of the underlying option.

F4: Tandem awards will be settled in an amount of cash equal to the excess of the fair market value of a share of our common stock on the date of exercise over the fair market value on the date of grant, unless advance approval is given by the Board of Directors or an officer of the Company, as applicable, to settle the tandem awards in shares.