Michael Porcelain - May 23, 2023 Form 4 Insider Report for AIR INDUSTRIES GROUP (AIRI)

Role: Director
Signature: /s/ Michael D. Porcelain
Stock symbol: AIRI
Transactions as of: May 23, 2023
Transactions value $: $12,910
Form type: 4
Date filed: 5/25/2023, 04:23 PM
Previous filing: Jan 10, 2023
Next filing: Jun 6, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AIRI	Common Stock	Other	$12.9K	+3.65K	+15.14%	$3.54	27.7K	May 23, 2023	Direct	F1

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		+2.16K			2.16K	May 23, 2023	Common Stock	2.16K	$3.43	Direct	F2
transaction	AIRI	Stock Options	Disposed to Issuer		-1K	-50%		1K	May 23, 2023	Common Stock	1K	$8.40	Direct	F2
transaction	AIRI	Stock Options	Disposed to Issuer		-100	-50%		100	May 23, 2023	Common Stock	100	$12.50	Direct	F2
transaction	AIRI	Stock Options	Disposed to Issuer		-1K	-50%		1K	May 23, 2023	Common Stock	1K	$13.20	Direct	F2
transaction	AIRI	Stock Options	Disposed to Issuer		-1.3K	-50%		1.3K	May 23, 2023	Common Stock	1.3K	$15.90	Direct	F2
transaction	AIRI	Stock Options	Disposed to Issuer		-1K	-50%		1K	May 23, 2023	Common Stock	1K	$12.80	Direct	F2
transaction	AIRI	Stock Options	Disposed to Issuer		-1K	-50%		1K	May 23, 2023	Common Stock	1K	$23.80	Direct	F2

* 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 fee.
F2	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.