FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

TAGLICH ROBERT
2. Issuer Name and Ticker or Trading Symbol

AIR INDUSTRIES GROUP [ AIRI ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    __X__ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

C/O TAGLICH BROTHERS, INC., 37 MAIN STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

10/5/2020
(Street)

COLD SPRING HARBOR, NY 11724
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/5/2020  J(1)  13872 A$1.14 2230305 D  
Common Stock         239946 I See Note (2)
Common Stock         44760 I See Note (3)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options $2.38           3/31/2020 (4)12/31/2026 Common Stock 10000  10000 D  
Stock Options $1.28            (5)12/31/2025 Common Stock 10000  10000 D  
Stock Options $1.59            (6)5/31/2023 Common Stock 13000  13000 D  
Stock Options $4.64            (7)6/1/2021 Common Stock 3000  3000 D  
Stock Options (right to purchase) $1.69           1/2/2018 12/31/2022 Common Stock 3000  3000 D  
Convertible Notes (8)$1.5           9/30/2018 12/31/2020 Common Stock 433333 (9) $650000 D  
Convertible Notes $0.93           1/15/2019 12/31/2020 Common Stock 1075268 (9) $1000000 D  
Convertible Notes $1.5           9/30/2018 12/31/2020 Common Stock 254666 (9) $382000 I See Note (10)
Convertible Notes $0.93           1/15/2019 12/31/2020 Common Stock 86021 (9) $80000 I See Note (11)
Warrants $1.4           10/1/2018 9/30/2023 Common Stock 17500  17500 I See Note (12)
Warrants $5           8/19/2016 7/31/2021 Common Stock 8307  8307 D  
Warrants (13)$6.15           11/27/2016 5/26/2021 Common Stock 13500  13500 D  
Warrants (13)$6.15           9/1/2016 7/31/2021 Common Stock 15925  15925 D  
Warrants $3           11/23/2016 11/30/2021 Common Stock 8889  8889 D  

Explanation of Responses:
(1) Shares received in lieu of cash payment of director's fees.
(2) Represent shares owned by Taglich Brothers, Inc., of which the Reporting Person is Managing Director.
(3) Represents shares acquired for which Mr. Taglich is the custodian for his children under NY UGMA.
(4) Vests as to 2,500 shares on March 31, 2020, and an additional 2,500 shares on each of June 30, 2020, September 30, 2020 and December 31, 2020.
(5) Fully vested as of 12/31/2019.
(6) Fully vested as of 12/31/2018.
(7) Fully vested as of 01/01/2016.
(8) Represents Issuer's 6% convertible notes received pursuant to amendment to Issuer's 8% convertible notes.
(9) Does not include shares issued upon conversion for accrued interest on the Notes.
(10) Represents 6% convertible notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, 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.
(11) Represents 7% convertible notes issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, 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.
(12) Represents warrants issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director, for acting as placement agent for the sale of Issuer's shares of common stock in October 2018.
(13) Assignment of a portion of Placement Agent Warrants originally issued to Taglich Brothers, Inc., of which the Reporting Person is Managing Director.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
TAGLICH ROBERT
C/O TAGLICH BROTHERS, INC.
37 MAIN STREET
COLD SPRING HARBOR, NY 11724
XX


Signatures
/s/ Robert F. Taglich10/6/2020
**Signature of Reporting PersonDate

Air Industries (AMEX:AIRI)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Air Industries Charts.
Air Industries (AMEX:AIRI)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Air Industries Charts.