SEC Form 4 · accession 0000353184-18-000047
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
Sep 28, 2018
Accepted (ET)
Oct 2, 2018 · 10:01 am EDT
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 StockF1 | Sep 28, 2018 | P | 30,000 | $33.55 | A | 32,304 | I | By Groveland Capital, LLC |
| Common StockF2,F3 | holding | — | — | — | 113,204 | I | By Groveland DST, LLC | |
| Common StockF4 | holding | — | — | — | 587,130 | I | By AO Partners I, LP | |
| Common StockF5 | holding | — | — | — | 57,960 | I | By Glenhurst Co. | |
| 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
- F1The 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. Included in the reported securities are shares that were previously owned by Groveland Hedged Credit Fund LLC and subsequently transferred to Groveland Capital, LLC via transactions exempt from reporting under Rule 16a-13.
- F2The Form 4 filed on September 10, 2018 incorrectly reported that Nicholas J. Swenson purchased 375 shares of Air T, Inc. on September 6, 2018 and 200 shares of Air T, Inc. on September 7, 2018. These shares have been properly removed from the amount of shares beneficially owned by Groveland DST, LLC.
- F3The reported securities are owned directly by Groveland DST, LLC and indirectly by Nicholas J. Swenson as the sole managing member and president of Groveland DST, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. These shares were previously owned by Groveland Hedged Credit Fund LLC and subsequently transferred to Groveland DST, LLC via transactions exempt from reporting under Rule 16a-13.
- F4The 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.
- F5The reported securities are owned directly by Glenhurst Co., a Minnesota corporation, wholly owned by Nicholas J. Swenson.