SEC Form 4 · accession 0000353184-16-000061

AIR T INC · AIRT

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

Reporting owner

Nicholas John Swenson

Officer — CEO · Director · 10% Owner

Period of report

Nov 17, 2016

Accepted (ET)

Dec 13, 2016 · 4:42 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000353184

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2	Nov 17, 2016	P	60	$18.25	A	43,080	I	By Groveland Capital LLC
Common Stock^F1,F2	Nov 17, 2016	P	150	$18.45	A	43,230	I	By Groveland Capital LLC
Common Stock^F1,F2	Nov 18, 2016	P	74	$18.50	A	43,304	I	By Groveland Capital LLC
Common Stock^F3,F2	Dec 9, 2016	P	7,655	$20.4575	A	50,959	I	By Groveland Capital LLC
Common Stock^F4,F2	Dec 12, 2016	P	632	$20.9186	A	51,591	I	By Groveland Capital LLC
Common Stock^F5,F2	Dec 12, 2016	P	8,719	$21.7181	A	60,310	I	By Groveland Capital LLC
Common Stock^F6	holding	—	—		—	587,130	I	By AO Partners I, LP
Common Stock	holding	—	—		—	40,307	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Options	$8.62	holding	—	—	—	Aug 30, 2013	Aug 30, 2022	Common Stock	2,500	2,500	D

Explanation of responses

F1Small acquisition eligible for deferred reporting pursuant to Rule 16a-6.
F2The reported securities are owned directly by Groveland Capital LLC, and indirectly by Nicholas J. Swenson as the sole managing member and president of Groveland Capital LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F3The price in Column 4 is a weighted average price. The prices actually paid ranged from $20.05 to $20.55. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.
F4The price in Column 4 is a weighted average price. The prices actually paid ranged from $20.525 to $20.95. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.
F5The price in Column 4 is a weighted average price. The prices actually paid ranged from $21.00 to $22.00. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.
F6The reported securities are owned directly by AO Partners I. L.P., and indirectly by AO Partners, LLC, as General Partner of AO Partners I. L.P., and Nicholas J. Swenson as Managing Member of AO Partners, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.