MICHAEL N. TAGLICH - 04 Oct 2023 Form 4 Insider Report for AIR INDUSTRIES GROUP (AIRI)

Role: Director, 10%+ Owner
Signature: /s/ Michael N. Taglich
Issuer symbol: AIRI
Transactions as of: 04 Oct 2023
Transactions value $: $12,598
Form type: 4
Filing time: 04 Oct 2023, 16:24:26 UTC
Previous filing: 22 Nov 2023
Next filing: 04 Jan 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AIRI	Common Stock	Other	$12,597	+4,359	+1%	$2.89	424,516	04 Oct 2023	Direct	F1
holding	AIRI	Common Stock						23,995	04 Oct 2023	See Note	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	AIRI	Stock Options						1,000	04 Oct 2023	Common Stock	1,000	$3.5	Direct	F3
holding	AIRI	Stock Options						2,120	04 Oct 2023	Common Stock	2,120	$3.43	Direct	F4
holding	AIRI	Stock Option						1,000	04 Oct 2023	Common Stock	1,000	$8.4	Direct	F4
holding	AIRI	Stock Option						1,000	04 Oct 2023	Common Stock	1,000	$13.2	Direct	F4
holding	AIRI	Stock Option						1,000	04 Oct 2023	Common Stock	1,000	$23.8	Direct	F4
holding	AIRI	Stock Option						1,000	04 Oct 2023	Common Stock	1,000	$12.8	Direct	F4
holding	AIRI	Convertible Notes						$1,523,157	04 Oct 2023	Common Stock	101,544	$15	Direct	F5, F6
holding	AIRI	Convertible Notes						$1,026,000	04 Oct 2023	Common Stock	110,323	$9.3	Direct	F6
holding	AIRI	Convertible Notes						$213,242	04 Oct 2023	Common Stock	14,217	$15	See Note	F6, F7
holding	AIRI	Convertible Notes						$117,166	04 Oct 2023	Common Stock	7,812	$15	Direct	F6
holding	AIRI	Convertible Notes						$28,000	04 Oct 2023	Common Stock	3,011	$9.3	See Note	F6, F8

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares received in lieu of cash payment of director's fees.
F2	Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.
F3	Vests as to 250 shares on each of June 2, 2023, June 30, 2023, September 30, 2023 and December 31, 2023.
F4	Exercisable in full.
F5	Represents Issuer's 6% convertible notes received pursuant to amendment to Issuer's 8% convertible notes and includes unpaid interest through December 31, 2020.
F6	Includes accrued interest on the Notes through December 31, 2020 and the shares that would be issued upon conversion for the interest accrued through December 31, 2020. Does not include shares to be issued upon conversion for interest accrued after December 31, 2020.
F7	Represents 6% convertible notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, pursuant to amendment to Issuer's 8% convertible notes originally issued in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 8% convertible notes.
F8	Represents 7% convertible notes issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, issued in lieu of cash payment of commissions earned for acting as placement agent for the sale of Issuer's 7% convertible notes in January 2019.