SEC Form 4 · accession 0000921895-16-005076
AIR T INC · AIRT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Period of report
Jul 1, 2016
Accepted (ET)
Jul 5, 2016 · 4:10 pm 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 Stock, par value $0.25F1,F2 | Jul 1, 2016 | S | 329,738 | $24.01 | D | 0 | I | By The Lion Fund II, L.P. |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1This Form 4 is filed jointly by The Lion Fund II, L.P. ("Lion Fund II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of Lion Fund II, BCC and Mr. Biglari is a member of a Section 13(d) group that previously owned more than 10% of the Issuer's outstanding shares of Common Stock. Each of Lion Fund II, BCC and Mr. Biglari disclaimed beneficial ownership of the shares of Common Stock previously reported herein except to the extent of its or his pecuniary interest therein.
- F2Shares previously owned directly by Lion Fund II. BCC is the general partner of Lion Fund II. Mr. Biglari is the Chairman and Chief Executive Officer of BCC and has investment discretion over the securities owned by Lion Fund II. By virtue of these relationships, BCC and Mr. Biglari may have been deemed to beneficially own the shares of Common Stock of the Issuer previously owned directly by Lion Fund II.
- F3On July 1, 2016, Lion Fund II, BCC and Mr. Biglari entered into a securities purchase agreement with the Issuer pursuant to which the Issuer purchased the 329,738 shares of Common Stock of the Issuer owned directly by Lion Fund II.