SEC Form 4 · accession 0001213900-19-000887
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
Jan 4, 2019
Accepted (ET)
Jan 17, 2019 · 6:20 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 | Jan 4, 2019 | P | 17,310 | $0.83 | A | 3,543,966 | D | |
| Common StockF1 | holding | — | — | — | 149,932 | I | See Note | |
| Common StockF2 | holding | — | — | — | 17,990 | 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 OptionsF3 | $1.59 | May 14, 2018 | A | 13,000 | A | May 14, 2018 | May 31, 2023 | Common Stock | 13,000 | 13,000 | 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 OptionsF4 | $10.05 | Apr 6, 2015 | A | 3,000 | A | — | Apr 5, 2020 | Common Stock | 3,000 | 3,000 | D |
| Stock OptionsF5 | $4.64 | Jun 2, 2016 | A | 3,000 | A | — | Jun 1, 2021 | Common Stock | 3,000 | 3,000 | D |
| Stock Options (right to purchase) | $1.69 | Jan 2, 2018 | A | 3,000 | A | Jan 2, 2018 | Dec 31, 2022 | Common Stock | 3,000 | 3,000 | D |
| Convertible NotesF7 | $1.50 | Sep 30, 2018 | J | — | A | Sep 30, 2018 | Dec 31, 2020 | Common Stock | 866,666 | — | D |
| Convertible NotesF7 | $0.93 | Jan 15, 2019 | P | — | A | Jan 15, 2019 | Dec 31, 2020 | Common Stock | 107,526 | — | D |
| Convertible NotesF8,F7 | $1.50 | Sep 30, 2018 | J | — | A | Sep 30, 2018 | Dec 31, 2020 | Common Stock | 254,666 | — | I |
| Convertible NotesF9,F7 | $0.93 | Jan 15, 2019 | J | — | A | Jan 15, 2019 | Dec 31, 2020 | Common Stock | 86,021 | — | I |
| WarrantsF10 | $1.40 | Oct 1, 2018 | J | 17,500 | A | Oct 1, 2018 | Sep 30, 2023 | Common Stock | 17,500 | 17,500 | I |
| WarrantsF11 | $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 |
| WarrantsF12 | $6.15 | Oct 13, 2016 | J | 16,500 | A | Nov 27, 2016 | May 26, 2021 | Common Stock | 16,500 | 16,500 | I |
| 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 |
| Warrants | $1.50 | Nov 29, 2017 | P | 48,000 | A | Jan 29, 2017 | Nov 30, 2022 | Common Stock | 48,000 | 48,000 | D |
| Warrants | $3.00 | Mar 15, 2017 | J | 13,000 | A | Dec 22, 2016 | Nov 30, 2021 | Common Stock | 13,000 | 143,703 | D |
| Warrants | $4.45 | Mar 15, 2017 | J | 7,880 | A | Feb 17, 2017 | Jan 31, 2022 | Common Stock | 7,880 | 7,880 | D |
| Warrants | $3.30 | Mar 15, 2017 | J | 4,850 | A | Mar 8, 2017 | Jan 31, 2022 | Common Stock | 4,850 | 4,850 | D |
| Warrants | $3.78 | Mar 15, 2017 | J | 4,775 | A | Mar 15, 2017 | Jan 31, 2022 | Common Stock | 4,775 | 4,775 | D |
| Warrants | $4.00 | Mar 21, 2017 | J | 964 | A | Mar 21, 2017 | Jan 31, 2022 | Common Stock | 964 | 964 | D |
| WarrantsF14 | $1.50 | May 12, 2017 | P | 93,279 | A | May 12, 2017 | May 12, 2022 | Common Stock | 93,279 | 93,279 | D |
| WarrantsF15 | $3.78 | Mar 15, 2017 | J | 3,354 | A | Mar 15, 2017 | Jan 31, 2022 | Common Stock | 3,354 | 3,354 | I |
| WarrantsF15 | $3.78 | Mar 15, 2017 | J | 3,354 | A | Mar 15, 2017 | Jan 31, 2022 | Common Stock | 3,354 | 3,354 | I |
| WarrantsF15 | $4.00 | Mar 21, 2017 | J | 615 | A | Mar 21, 2017 | Jan 31, 2022 | Common Stock | 615 | 615 | I |
Explanation of responses
- F1Owned by Tag/Kent Partners, of which Reporting Person is a General Partner.
- F10Represents warrants issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, for acting as placement agent for the sale of Issuer's shares of common stock in October 2018.
- F11Represents warrants received by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, pursuant to Capital Markets Advisory Agreement.
- F12Represents warrants issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, for acting as placement agent for the sale of Issuer's 8% convertible notes.
- F13Assignment of a portion of Placement Agent Warrants originally issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.
- F14Exercise price was reduced from $2.49 to $1.50 per share, the public offering price of the Issuer's common stock in the Issuer's public offering which closed on July 12, 2017, pursuant to the terms of the warrant.
- F15Represents warrants received by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, which acted as placement agent for the sale of Issuer's 8% convertible notes, in lieu of cash payment of commissions.
- F2Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.
- F3Fully vested as of 12/31/2018.
- F4Fully vested as of 11/01/2016.
- F5Fully vested as of 01/01/2017.
- F6Represents Issuer's 6% convertible notes received pursuant to amendment to Issuer's 8% convertible notes.
- F7Does not include shares issued upon conversion for accrued interest on the Notes.
- F8Represents 6% convertible notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, pursuant to amendment to Issuer's 8% convertible notes originally issued in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 8% convertible notes.
- F9Represents 7% convertible notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, issued in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 7% convertible notes in January 2019.