SEC Form 4 · accession 0000353184-19-000009
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
Feb 5, 2019
Accepted (ET)
Feb 7, 2019 · 5:22 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 StockF1 | Feb 5, 2019 | P | 74 | $28.9926 | A | 34,993 | I | By Groveland Capital, LLC |
| Common StockF1 | Feb 6, 2019 | P | 79 | $29.00 | A | 35,072 | I | By Groveland Capital, LLC |
| Common StockF2 | holding | — | — | — | 113,204 | I | By Groveland DST, LLC | |
| Common StockF3 | holding | — | — | — | 587,130 | I | By AO Partners I, LP | |
| Common StockF4 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | $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.
- F2he 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.
- F3The 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.
- F4The reported securities are owned directly by Glenhurst Co., a Minnesota corporation, wholly owned by Nicholas J. Swenson.