SEC Form 4 · accession 0001193805-17-001390
AIR INDUSTRIES GROUP · AIRI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael N Taglich
Director · 10% Owner
Period of report
Aug 3, 2017
Accepted (ET)
Aug 4, 2017 · 12:47 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 | Aug 3, 2017 | A | 41,529 | $1.36 | A | 402,026 | D | |
| Common StockF1 | holding | — | — | — | 17,990 | I | See Note | |
| Common StockF2 | 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 OptionsF3 | $10.05 | Apr 6, 2015 | A | 3,000 | A | — | Apr 5, 2020 | Common Stock | 3,000 | 3,000 | D |
| Stock OptionsF4 | $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 | 9,547 | — | D |
| Convertible Notes | $2.63 | Feb 28, 2017 | J | — | A | Dec 22, 2016 | Nov 30, 2018 | Common Stock | 2,587 | — | D |
| Convertible Notes | $2.49 | May 12, 2017 | P | — | A | May 12, 2017 | May 12, 2018 | Common Stock | 310,930 | — | D |
| Series A Preferred StockF7 | $4.92 | Mar 15, 2017 | J | 10,414 | A | May 26, 2016 | — | Common Stock | 5,124 | 288,162 | D |
| Convertible NotesF8 | $2.25 | Nov 23, 2016 | J | — | A | Nov 23, 2016 | Nov 30, 2018 | Common Stock | 49,778 | — | I |
| Convertible NotesF9 | $2.63 | Dec 22, 2016 | J | — | A | Dec 22, 2016 | Nov 30, 2018 | Common Stock | 35,742 | — | I |
| Convertible NotesF11,F10 | — | Feb 28, 2017 | J | — | A | Nov 23, 2016 | Nov 30, 2018 | Common Stock | 1,880 | — | I |
| Convertible NotesF12 | $3.71 | Feb 7, 2017 | J | — | A | Feb 7, 2017 | Jan 31, 2019 | Common Stock | 5,391 | — | I |
| Convertible NotesF13 | $3.25 | Feb 17, 2017 | J | — | A | Feb 17, 2017 | Jan 31, 2019 | Common Stock | 18,462 | — | I |
| Convertible NotesF14 | $3.30 | Mar 8, 2017 | J | — | A | Mar 8, 2017 | Jan 31, 2019 | Common Stock | 13,455 | — | I |
| Convertible NotesF15 | $3.78 | Mar 15, 2017 | J | — | A | Mar 15, 2017 | Jan 31, 2019 | Common Stock | 11,535 | — | I |
| Convertible NotesF16 | $4.00 | Mar 22, 2017 | J | — | A | Mar 22, 2017 | Jan 31, 2019 | Common Stock | 2,000 | — | I |
| WarrantsF18 | $8.72 | Jan 1, 2014 | A | 10,000 | A | Apr 1, 2014 | Dec 31, 2019 | Common Stock | 10,000 | 10,000 | I |
| Warrants | $5.00 | Aug 19, 2016 | P | 61,817 | A | Aug 19, 2016 | Jul 31, 2021 | Common Stock | 61,817 | 61,817 | D |
| Warrants | $6.15 | Oct 13, 2016 | J | 16,500 | A | Nov 27, 2016 | May 26, 2021 | Common Stock | 16,500 | 16,500 | D |
| Warrants | $6.15 | Oct 13, 2016 | J | 19,300 | A | Sep 1, 2016 | Jul 31, 2021 | Common Stock | 19,300 | 19,300 | D |
| Warrants | $3.00 | Nov 23, 2016 | P | 88,889 | A | Nov 23, 2016 | Nov 30, 2021 | Common Stock | 88,889 | 88,889 | D |
| Warrants | $3.00 | Dec 22, 2016 | P | 22,814 | A | Dec 22, 2016 | Nov 30, 2021 | Common Stock | 22,814 | 111,703 | D |
| Warrants | $3.00 | Mar 15, 2017 | J | 19,000 | A | Nov 22, 2016 | Nov 30, 2021 | Common Stock | 19,000 | 130,703 | D |
Explanation of responses
- F1Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.
- F10Exercise price is $2.25 per share as to $2,430 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.
- F11Represents 2018 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of accrued interest on the 2018 Notes.
- F12Represents Issuer's 8% Subordinated Convertible Notes due January 31, 2019 (the "2019 Notes") issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, 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.
- F13Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, 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.
- F14Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, 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.
- F15Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, 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.
- F16Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, 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.
- F17Assignment of a portion of Placement Agent Warrants. originally issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.
- F18Represents warrants received by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, pursuant to Capital Markets Advisory Agreement.
- F2Owned by Tag/Kent Partners, of which Reporting Person is a General Partner.
- F3Fully vested as of 11/01/2016.
- F4Fully vested as of 01/01/2017.
- 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.
- F8Represents Issuer's 8% Subordinated Convertible Notes due November 20, 2018 ("2018 Notes") issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2018 Notes in November 2016.
- F9Represents 2018 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2018 Notes in December 2016.