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Filing Details

Accession Number:: 0001193805-18-000744
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2018-05-22 17:02:14
Reporting Period:: 2018-05-21

Accepted Time:: 2018-05-22 17:02:14
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1009891	Air Industries Group	AIRI	Aircraft Parts & Auxiliary Equipment, Nec (3728)	204458244

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1024533	N Michael Taglich	C/O Taglich Brothers, Inc. 790 New York Avenue, Suite 209 Huntington NY 11743		Yes	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2018-05-21	178,571	$1.68	3,350,431	No	4	P	Direct
Common Stock	Acquisiton	2017-10-03	137,186	$1.50	149,932	No	4	C	Indirect	See Note

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	C	Indirect	See Note

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Options	Acquisiton	2018-05-14	13,000	$0.00	13,000	$1.59
Common Stock	Stock Options	Acquisiton	2013-09-30	750	$0.00	750	$7.86
Common Stock	Stock Options	Acquisiton	2013-12-31	750	$0.00	750	$8.98
Common Stock	Stock Options	Acquisiton	2014-03-31	750	$0.00	750	$9.38
Common Stock	Stock Options	Acquisiton	2014-05-16	750	$0.00	750	$11.73
Common Stock	Stock Options	Acquisiton	2014-08-21	750	$0.00	750	$9.24
Common Stock	Stock Options	Acquisiton	2014-11-24	1,750	$0.00	1,750	$10.26
Common Stock	Stock Options	Acquisiton	2015-04-06	3,000	$0.00	3,000	$10.05
Common Stock	Stock Options	Acquisiton	2016-06-02	3,000	$0.00	3,000	$4.64
Common Stock	Stock Options (right to purchase)	Acquisiton	2018-01-02	3,000	$0.00	3,000	$1.69
Common Stock	Convertible Notes	Acquisiton	2017-02-28	0	$21,480.00	9,547	$2.25
Common Stock	Convertible Notes	Acquisiton	2017-02-28	0	$6,805.00	2,587	$2.63
Common Stock	Convertible Notes	Acquisiton	2016-11-23	0	$112,000.00	49,778	$2.25
Common Stock	Convertible Notes	Acquisiton	2016-12-22	0	$94,000.00	35,742	$2.63
Common Stock	Convertible Notes	Acquisiton	2017-02-28	0	$4,538.00	1,880	$0.00
Common Stock	Convertible Notes	Acquisiton	2017-02-07	0	$20,000.00	5,391	$3.71
Common Stock	Convertible Notes	Acquisiton	2017-02-17	0	$60,000.00	18,462	$3.25
Common Stock	Convertible Notes	Acquisiton	2017-03-08	0	$44,400.00	13,455	$3.30
Common Stock	Convertible Notes	Acquisiton	2017-03-15	0	$43,600.00	11,535	$3.78
Common Stock	Convertible Notes	Acquisiton	2017-03-22	0	$8,000.00	2,000	$4.00
Common Stock	Warrants	Acquisiton	2014-01-01	10,000	$0.00	10,000	$8.72
Common Stock	Warrants	Acquisiton	2016-08-19	61,817	$0.00	61,817	$5.00
Common Stock	Warrants	Acquisiton	2016-10-13	16,500	$0.00	16,500	$6.15
Common Stock	Warrants	Acquisiton	2016-10-13	19,300	$0.00	19,300	$6.15
Common Stock	Warrants	Acquisiton	2016-11-23	88,889	$0.00	88,889	$3.00
Common Stock	Warrants	Acquisiton	2016-12-22	22,814	$0.00	22,814	$3.00
Common Stock	Warrants	Acquisiton	2017-03-15	19,000	$0.00	19,000	$3.00
Common Stock	Warrants	Acquisiton	2017-11-29	48,000	$0.00	48,000	$1.50

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
13,000	2018-05-14	2023-05-31	No	4	A	Direct
750	2013-09-30	2018-09-30	No	4	A	Direct
750	2013-12-31	2018-12-31	No	4	A	Direct
750	2014-03-31	2019-03-31	No	4	A	Direct
750	2014-05-16	2019-05-15	No	4	A	Direct
750	2014-08-21	2019-08-20	No	4	A	Direct
1,750	2014-11-24	2019-11-23	No	4	A	Direct
3,000		2020-04-05	No	4	A	Direct
3,000		2021-06-01	No	4	A	Direct
3,000	2018-01-02	2022-12-31	No	4	A	Direct
0	2016-11-23	2018-11-30	No	4	J	Direct
0	2016-12-22	2018-11-30	No	4	J	Direct
0	2016-11-23	2018-11-30	No	4	J	Indirect
0	2016-12-22	2018-11-30	No	4	J	Indirect
0	2016-11-23	2018-11-30	No	4	J	Indirect
0	2017-02-07	2019-01-31	No	4	J	Indirect
0	2017-02-17	2019-01-31	No	4	J	Indirect
0	2017-03-08	2019-01-31	No	4	J	Indirect
0	2017-03-15	2019-01-31	No	4	J	Indirect
0	2017-03-22	2019-01-31	No	4	J	Indirect
10,000	2014-04-01	2019-12-31	No	4	A	Indirect
61,817	2016-08-19	2021-07-31	No	4	P	Indirect
16,500	2016-11-27	2021-05-26	No	4	J	Indirect
19,300	2016-09-01	2021-07-31	No	4	J	Direct
88,889	2016-11-23	2021-11-30	No	4	P	Direct
111,703	2016-12-22	2021-11-30	No	4	P	Direct
130,703	2016-11-22	2021-11-30	No	4	J	Direct
48,000	2017-01-29	2022-11-30	No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	17,990	Indirect	See Note

Footnotes

Owned by Tag/Kent Partners, of which Reporting Person is a General Partner, and includes 137,186 shares acquired upon conversion of notes issued in May 2017.
Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.
Vests as to 5,500 shares on May 14, 2018 and in increments of 2,500 additional shares on each of June 30, September 30, 2018 and December 31, 2018.
Fully vested as of 11/01/2016.
Fully vested as of 01/01/2017.
Represents convertible notes received in lieu of cash payment of accrued interest on February 28, 2017.
Represents Issuer's 8% Subordinated Convertible Notes due November 20, 2018 ("2018 Notes") issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2018 Notes in November 2016.
Represents 2018 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2018 Notes in December 2016.
Conversion price is $2.25 per share as to $2,430 principal amount of 2018 Notes and $2.63 per share as $2,132 principal amount of 2018 Notes issued in lieu of cash payment of accrued interest on the 2018 Notes issued in November and December 2016, respectively.
Represents 2018 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of accrued interest on the 2018 Notes.
Represents Issuer's 8% Subordinated Convertible Notes due January 31, 2019 (the "2019 Notes") issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on February 7, 2017.
Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on February 17, 2017.
Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 8, 2017.
Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 15, 2017.
Represents Issuer's 2019 Notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 2019 Notes on March 21, 2017.
Represents warrants received by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, pursuant to Capital Markets Advisory Agreement.
Assignment of a portion of Placement Agent Warrants. originally issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.