MICHAEL N. TAGLICH - 06 Jul 2022 Form 4 Insider Report for AIR INDUSTRIES GROUP (AIRI)

Role: Director, 10%+ Owner
Signature: /s/ Michael N. Taglich
Issuer symbol: AIRI
Transactions as of: 06 Jul 2022
Transactions value $: $15,814
Form type: 4
Filing time: 06 Jul 2022, 16:47:42 UTC
Previous filing: 17 May 2022
Next filing: 04 Oct 2022
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	$15,813	+22,591	+0.56%	$0.7	4,051,334	06 Jul 2022	Direct	F1
holding	AIRI	Common Stock						239,946	06 Jul 2022	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						10,000	06 Jul 2022	Common Stock	10,000	$0.84	Direct	F3
holding	AIRI	Stock Options						10,000	06 Jul 2022	Common Stock	10,000	$1.32	Direct
holding	AIRI	Stock Options						10,000	06 Jul 2022	Common Stock	10,000	$2.38	Direct
holding	AIRI	Stock Options						10,000	06 Jul 2022	Common Stock	10,000	$1.28	Direct
holding	AIRI	Stock Options						13,000	06 Jul 2022	Common Stock	13,000	$1.59	Direct
holding	AIRI	Stock Options (right to purchase)						3,000	06 Jul 2022	Common Stock	3,000	$1.69	Direct
holding	AIRI	Convertible Notes						$1,523,157	06 Jul 2022	Common Stock	1,015,438	$1.5	Direct	F4, F5
holding	AIRI	Convertible Notes						$1,026,000	06 Jul 2022	Common Stock	1,103,225	$0.93	Direct	F5
holding	AIRI	Convertible Notes						$213,242	06 Jul 2022	Common Stock	142,161	$1.5	See Note	F5, F6
holding	AIRI	Convertible Notes						$117,166	06 Jul 2022	Common Stock	78,111	$1.5	See Note	F5, F7
holding	AIRI	Convertible Notes						$28,000	06 Jul 2022	Common Stock	30,108	$0.93	See Note	F4, F8
holding	AIRI	Warrants						17,500	06 Jul 2022	Common Stock	17,500	$1.4	See Note	F9
holding	AIRI	Warrants						48,000	06 Jul 2022	Common Stock	48,000	$1.5	Direct

* 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 2,500 shares on April 6, 2022, and an additional 2,500 shares on each of June 30, 2022, September 30, 2022 and December 31, 2022.
F4	Represents Issuer's 6% convertible notes received pursuant to amendment to Issuer's 8% convertible notes and includes unpaid interest through December 31, 2020.
F5	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.
F6	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.
F7	Represents 6% convertible notes acquired from Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, originally issued to Taglich Brothers 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.
F9	Represents warrants issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, for acting as placement agent for the sale of Issuer's shares of common stock in October 2018.