SEC Form 4 · accession 0001193805-16-004420

AIR INDUSTRIES GROUP · AIRI

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Dec 22, 2016

Accepted (ET)

Dec 27, 2016 · 3:52 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001009891

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock	Jun 29, 2016	M	3,000	$2.95	A	377,903	D
Common Stock^F1	holding	—	—		—	17,990	I	See Note
Common Stock^F2	holding	—	—		—	12,746	I	See Note

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Options (right to purchase)	$4.64	Jun 2, 2016	A	750	A	Feb 1, 2016	Jun 1, 2021	Common Stock	750	15,250	D
Warrants^F3	$5.00	Aug 19, 2016	P	2,436	A	Aug 19, 2016	Jul 31, 2021	Common Stock	2,436	2,436	I
Convertible Notes	$2.25	Nov 23, 2016	P	—	A	Nov 23, 2016	Nov 30, 2018	Common Stock	44,444	—	D
Convertible Note^F4	—	Nov 30, 2016	C	—	D	Aug 19, 2016	Dec 31, 2017	Common Stock	—	—	D
Convertible Note^F3,F4	—	Nov 30, 2016	C	—	D	Aug 19, 2016	Dec 31, 2017	Common Stock	—	0	I
Series A Preferred Stock^F5,F6	$4.92	Nov 30, 2016	C	23,291	A	Nov 30, 2016	—	Common Stock	47,338	91,309	D
Series A Preferred Stock^F5,F3,F6	$4.92	Nov 30, 2016	C	6,036	A	Nov 30, 2016	—	Common Stock	12,268	6,036	I
Convertible Notes	$2.63	Dec 22, 2016	P	—	A	Dec 22, 2016	Nov 30, 2018	Common Stock	76,045	—	D
Warrants	$3.00	Dec 22, 2016	P	15,210	A	Dec 22, 2016	Nov 30, 2021	Common Stock	15,210	77,089	D
Warrants^F7	$3.00	Dec 22, 2016	P	44,677	A	Dec 22, 2016	Nov 30, 2021	Common Stock	44,677	185,984	I

F1Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Managing Director.
F2Owned by Tag/Kent Partners, of which Reporting Person is a General Partner.
F3Custodian for children under NY UGMA
F4Converted into shares of Series A Convertible Preferred Stock ("Series A Preferred Stock") at $10 per share upon filing of Certificate of Amendment increasing number of authorized shares of Preferred Stock. Until automatically converted into shares of Series A Preferred Stock, the Note had been convertible into shares of Common Stock at an exercise price of $4.92 per share, the conversion price of the Series A Preferred Stock.
F5Includes shares received in lieu of cash dividends on December 15, 2016.
F6There is no expiration date.
F7Represents Placement Agent Warrants received by Taglich Brothers, Inc., of which the Reporting Person is Managing Director, which acted as placement agent for the sale of Issuer's 8% Subordinated Convertible Notes in December 2016.