MICHAEL N. TAGLICH - 23 May 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: 23 May 2023
Transactions value $: $15,813
Form type: 4
Filing time: 25 May 2023, 16:25:41 UTC
Previous filing: 10 Jan 2023
Next filing: 06 Jun 2023
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	+4,467	+1.1%	$3.54^*	415,157	23 May 2023	Direct	F1
holding	AIRI	Common Stock						23,995	23 May 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
transaction	AIRI	Stock Options	Award		+2,120			2,120	23 May 2023	Common Stock	2,120	$3.43	Direct	F3
transaction	AIRI	Stock Options	Disposed to Issuer		-1,000	-50%		1,000	23 May 2023	Common Stock	1,000	$8.4	Direct	F3
transaction	AIRI	Stock Options	Disposed to Issuer		-1,000	-50%		1,000	23 May 2023	Common Stock	1,000	$13.2	Direct	F3
transaction	AIRI	Stock Options	Disposed to Issuer		-1,000	-50%		1,000	23 May 2023	Common Stock	1,000	$23.8	Direct	F3
transaction	AIRI	Stock Options	Disposed to Issuer		-1,000	-50%		1,000	23 May 2023	Common Stock	1,000	$12.8	Direct	F3
transaction	AIRI	Stock Options	Disposed to Issuer		-1,300	-50%		1,300	23 May 2023	Common Stock	1,300	$15.9	Direct	F3
holding	AIRI	Convertible Notes						$1,523,157	23 May 2023	Common Stock	101,544	$15	Direct	F4, F5
holding	AIRI	Convertible Notes						$1,026,000	23 May 2023	Common Stock	110,323	$9.3	Direct	F5
holding	AIRI	Convertible Notes						$213,242	23 May 2023	Common Stock	14,217	$15	See Note	F5, F6
holding	AIRI	Convertible Notes						$117,166	23 May 2023	Common Stock	7,812	$15	Direct	F5
holding	AIRI	Convertible Notes						$28,000	23 May 2023	Common Stock	3,011	$9.3	See Note	F5, F7
holding	AIRI	Warrants						1,750	23 May 2023	Common Stock	1,750	$14	See Note	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	The reporting person and the issuer agreed to a stock option exchange whereby the reporting person exchanged all of his outstanding vested and unvested stock options for an immediately vested stock option to purchase a lesser number of shares than the aggregate number of shares subject to his outstanding stock options, with a modified exercise price and exercise period.
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 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.
F8	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.