Statement of Changes in Beneficial Ownership (4)

Date : 08/14/2019 @ 4:37PM
Source : Edgar (US Regulatory)
Stock : Air Industries Group (AIRI)
Quote : 1.2248  0.0648 (5.59%) @ 5:26PM

Statement of Changes in Beneficial Ownership (4)

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
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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 MICHAEL N
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., 790 NEW YORK AVENUE, SUITE 209
3. Date of Earliest Transaction (MM/DD/YYYY)

6/10/2019
(Street)

HUNTINGTON, NY 11743
(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   6/10/2019     J (1)    150000   D $0   3740243   D    
Common Stock                  233023   I   See Note   (2)

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 Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. 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 Date 7. 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options   $1.28   2/13/2019     A      10000       3/31/2019   (3) 12/31/2025   Common Stock   10000   $0   10000   D    
Stock Options   $1.59   5/14/2018     A      13000       5/14/2018   (4) 5/31/2023   Common Stock   13000   $0   13000   D    
Stock Options   $10.26   11/24/2014     A      1750       11/24/2014   11/23/2019   Common Stock   1750   $0   1750   D    
Stock Options   $10.05   4/16/2015     A      3000         (5) 4/5/2020   Common Stock   3000   $0   3000   D    
Stock Options   $4.64   6/2/2016     A      3000         (6) 6/1/2021   Common Stock   3000   $0   3000   D    
Stock Options (right to purchase)   $1.69   1/2/2018     A      3000       1/2/2018   12/31/2022   Common Stock   3000   $0   3000   D    
Convertible Notes   $1.5   9/30/2018     J   (7)    $1300000       9/30/2018   12/31/2020   Common Stock   866666   (8) $1300000   $1300000   D    
Convertible Notes   $0.93   1/15/2019     P      $1000000       1/15/2019   12/31/2020   Common Stock   1075268   (8) $1000000   $1000000   D    
Convertible Notes   $1.5   9/30/2018     J   (9)    $382000       9/30/2018   12/31/2020   Common Stock   254666   (8) $382000   $382000   I   See Note   (9)
Convertible Notes   $0.93   1/15/2019     J   (10)    $80000       1/15/2019   12/31/2020   Common Stock   86021   (8) $80000   $80000   I   See Note   (10)
Warrants   $1.4   10/1/2018     J   (11)    17500       10/1/2018   9/30/2023   Common Stock   17500   $0   17500   I   See Note   (11)
Warrants   $8.72   1/1/2014     A      10000       4/1/2014   12/31/2019   Common Stock   10000   $0   10000   I   See Note   (12)
Warrants   $5   8/19/2016     P      61817       8/19/2016   7/31/2021   Common Stock   61817   $0   61817   D    
Warrants   $6.15   10/13/2016     J   (13)    16500       11/27/2016   5/26/2021   Common Stock   16500   $0   16500   D    
Warrants   $6.15   10/13/2016     J      19300       9/1/2016   7/31/2021   Common Stock   19300   $0   19300   D    
Warrants   $3   11/23/2016     P      88889       11/23/2016   11/30/2021   Common Stock   88889   $0   88889   D    
Warrants   $3   12/22/2016     P      22814       12/22/2016   11/30/2021   Common Stock   22814   $0   111703   D    
Warrants   $3   3/15/2017     J      19000       11/22/2016   11/30/2021   Common Stock   19000   $0   130703   D    
Warrants   $1.5   11/29/2017     P      48000       1/29/2017   11/30/2022   Common Stock   48000   $0   48000   D    
Warrants   $3   3/15/2017     J   (13)    13000       12/22/2016   11/30/2021   Common Stock   13000   $0   143703   D    
Warrants   $4.45   3/15/2017     J   (13)    7880       2/17/2017   1/31/2022   Common Stock   7880   $0   7880   D    
Warrants   $3.3   3/15/2017     J   (13)    4850       3/8/2017   1/31/2022   Common Stock   4850   $0   4850   D    
Warrants   $3.78   3/15/2017     J   (13)    4775       3/15/2017   1/31/2022   Common Stock   4775   $0   4775   D    
Warrants   $4   3/21/2017     J   (13)    964       3/21/2017   1/31/2022   Common Stock   964   $0   964   D    
Warrants   $1.5   (14) 5/12/2017     P      98591   (15)      5/12/2017   5/12/2022   Common Stock   98591   (15) $0   98591   (15) D    
Warrants   $3.78   3/15/2017     J   (16)    3354       3/15/2017   1/31/2022   Common Stock   3354   $0   3354   I   See Note   (16)
Warrants   $4   3/21/2017     J   (16)    615       3/21/2017   1/31/2022   Common Stock   615   $0   615   I   See Note   (16)

Explanation of Responses:
(1)  Represents shares issued for extension of maturity date of Subordinated Notes.
(2)  Represents shares owned by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.
(3)  Vests as to 2,500 shares on March 31, 2019, and an additional 2,500 shares on each of June 30, 2019, September 31, 2019 and December 31, 2019.
(4)  Fully vested as of 12/31/2018.
(5)  Fully vested as of 11/01/2016.
(6)  Fully vested as of 01/01/2017.
(7)  Represents Issuer's 6% convertible notes received pursuant to amendment to Issuer's 8% convertible notes.
(8)  Does not include shares issued upon conversion for accrued interest on the Notes.
(9)  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.
(10)  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.
(11)  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.
(12)  Represents warrants received by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, pursuant to Capital Markets Advisory Agreement.
(13)  Assignment of a portion of Placement Agent Warrants originally issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.
(14)  Exercise price was reduced from $2.49 to $1.50 per share, the public offering price of the Issuer's common stock in the Issuer's public offering which closed on July 12, 2017, pursuant to the terms of the warrant.
(15)  Includes warrants previously owned by a partnership of which Reporting Person was a General Partner, received upon liquidation at the end of 2018
(16)  Represents warrants received by Taglich Brothers, Inc., of which the Reporting Person is Chairman and President, which acted as placement agent for the sale of Issuer's 8% convertible notes, in lieu of cash payment of commissions.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
TAGLICH MICHAEL N
C/O TAGLICH BROTHERS, INC.
790 NEW YORK AVENUE, SUITE 209
HUNTINGTON, NY 11743
X X


Signatures
/s/ Michael N. Taglich 8/14/2019
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

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