SEC Form 4 · accession 0000353184-18-000048
AIR T INC · AIRT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brett Reynolds
Officer — CFO
Period of report
Nov 30, 2018
Accepted (ET)
Dec 4, 2018 · 11:46 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000353184
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock WarrantsF1 | $31.00 | Nov 30, 2018 | A | 25,000 | A | Jun 30, 2019 | Nov 30, 2028 | Stock Warrants | 25,000 | 25,000 | D |
Explanation of responses
- F1Up to 20% of the warrant shares may be purchased at any time after June 30, 2019. Up to 40% of the warrant shares (less any shares previously purchased) may be purchased at any time after June 30, 2020. Up to 60% of the warrant shares (less any shares previously purchased) may be purchased at any time after June 30, 2021. Up to 80% of the warrant shares (less any shares previously purchased) may be purchased at any time after June 30, 2022. Up to 100% of the warrant shares (less any shares previously purchased) may be purchased at any time after June 30, 2023. Vested warrants remain vested and exercisable in accordance with the terms of agreement following a termination of employment with the Company for any reason. Upon termination of employment with the Company for any reason, unvested warrants will vest pro-rata for the days of employment in that year.