SEC Form 4 · accession 0001193805-17-000887

AIR INDUSTRIES GROUP · AIRI

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

Reporting owner

Robert Taglich

Director

Period of report

May 12, 2017

Accepted (ET)

May 16, 2017 · 1:36 pm EDT

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

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Options	$6.00	Sep 10, 2012	A	3,000	A	Sep 10, 2012	Sep 10, 2017	Common Stock	3,000	3,000	D
Stock Options	$6.00	Apr 23, 2013	A	750	A	Apr 23, 2013	Apr 23, 2018	Common Stock	750	750	D
Stock Options	$7.86	Sep 30, 2013	A	750	A	Sep 30, 2013	Sep 30, 2018	Common Stock	750	750	D
Stock Options	$8.98	Dec 31, 2013	A	750	A	Dec 31, 2013	Dec 31, 2018	Common Stock	750	750	D
Stock Options	$9.38	Mar 31, 2014	A	750	A	Mar 31, 2014	Mar 31, 2019	Common Stock	750	750	D
Stock Options	$11.73	May 16, 2014	A	750	A	May 16, 2014	May 15, 2019	Common Stock	750	750	D
Stock Options	$9.24	Aug 21, 2014	A	750	A	Aug 21, 2014	Aug 20, 2019	Common Stock	750	750	D
Stock Options	$10.26	Nov 24, 2014	A	1,750	A	Nov 24, 2014	Nov 23, 2019	Common Stock	1,750	1,750	D
Stock Options^F3	$10.05	Apr 6, 2015	A	3,000	A	—	Apr 5, 2020	Common Stock	3,000	3,000	D
Stock Options^F4	$4.64	Jun 2, 2016	A	3,000	A	—	Jun 1, 2021	Common Stock	3,000	3,000	D
Convertible Notes	$2.25	Feb 28, 2017	J	—	A	Nov 23, 2016	Nov 30, 2018	Common Stock	955	—	D
Convertible Notes	$2.63	Feb 28, 2017	J	—	A	Dec 22, 2016	Nov 30, 2018	Common Stock	1,725	—	D
Series A Preferred Stock^F7	$4.92	Mar 15, 2017	J	3,448	A	May 26, 2016	—	Common Stock	1,696	95,405	D
Series A Preferred Stock^F8,F7	$4.92	Mar 15, 2017	J	234	A	May 26, 2016	—	Common Stock	115	6,478	I
Convertible Notes	$3.71	Feb 7, 2017	P	—	A	Feb 7, 2017	Jan 31, 2019	Common Stock	67,386	—	D
Convertible Notes	$3.30	Mar 8, 2017	P	—	A	Mar 8, 2017	Jan 31, 2019	Common Stock	30,303	—	D
Convertible Notes	$2.49	May 12, 2017	P	—	A	May 12, 2017	May 12, 2018	Common Stock	310,930	—	D
Convertible Notes^F9	$2.25	Nov 23, 2016	J	—	A	Nov 23, 2016	Nov 30, 2018	Common Stock	49,778	—	I
Convertible Notes^F10	$2.63	Dec 22, 2016	J	—	A	Dec 22, 2016	Nov 30, 2018	Common Stock	35,742	—	I
Convertible Notes^F12,F11	—	Feb 28, 2017	J	—	A	Nov 23, 2016	Nov 30, 2018	Common Stock	1,880	—	I
Convertible Notes^F13	$3.71	Feb 7, 2017	J	—	A	Feb 7, 2017	Jan 31, 2019	Common Stock	5,391	—	I
Convertible Notes^F14	$3.25	Feb 17, 2017	J	—	A	Feb 17, 2017	Jan 31, 2019	Common Stock	18,462	—	I
Convertible Notes^F15	$3.30	Mar 8, 2017	J	—	A	Mar 8, 2017	Jan 31, 2019	Common Stock	13,455	—	I
Convertible Notes^F16	$3.78	Mar 15, 2017	J	—	A	Mar 15, 2017	Jan 31, 2019	Common Stock	11,535	—	I
Convertible Notes^F17	$4.00	Mar 22, 2017	J	—	A	Mar 22, 2017	Jan 31, 2019	Common Stock	2,000	—	I
Warrants	$6.30	Jun 22, 2012	J	31,190	A	Jun 22, 2012	Jun 22, 2017	Common Stock	31,190	31,190	D
Warrants	$5.00	Aug 19, 2016	P	8,307	A	Aug 19, 2016	Jul 31, 2021	Common Stock	8,307	8,307	D
Warrants	$6.15	Oct 13, 2016	J	13,500	A	Nov 27, 2016	May 26, 2021	Common Stock	13,500	13,500	D
Warrants	$6.15	Oct 13, 2016	J	15,925	A	Sep 1, 2016	Jul 31, 2021	Common Stock	15,925	15,925	D
Warrants	$3.00	Nov 23, 2016	P	8,889	A	Nov 23, 2016	Nov 30, 2021	Common Stock	8,889	8,889	D

Explanation of responses

F1Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Managing Director.
F10Represents 2018 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2018 Notes in December 2016.
F11Exercise price is $2.25 per share as to $2,406 principal amount of 2018 Notes and $2.63 per share as $2,132 principal amount of 2018 Notes issued in lieu of cash payment of accrued interest on the 2018 Notes issued in November and December 2016, respectively.
F12Represents 2018 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of accrued interest on the 2018 Notes.
F13Represents Issuer's 8% Subordinated Convertible Notes due January 31, 2019 (the "2019 Notes") issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on February 7, 2017.
F14Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on February 17, 2017.
F15Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 8, 2017.
F16Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 15, 2017.
F17Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 21, 2017.
F18Assignment of a portion of Placement Agent Warrants originally issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director.
F2Owned by Tag/Kent Partners, of which Reporting Person is a General Partner.
F3Fully vested as of 11/01/2016.
F4Fully vested as of 01/01/2016.
F5Represents convertible notes received in lieu of cash payment of accrued interest on February 28, 2017.
F6Represents shares received in lieu of cash dividends on March 15, 2017.
F7There is no expiration date.
F8Custodian for children under NY UGMA.
F9Represents Issuer's 8% Subordinated Convertible Notes due November 30, 2018 (the "2018 Notes") issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2018 Notes in November 2016.