Nicholas J. Swenson - 13 Jul 2021 Form 4 Insider Report for AIR T INC (AIRT)

Role: CEO, Director, 10%+ Owner
Signature: /s/ Mark R. Jundt, attorney-in-fact
Issuer symbol: AIRT
Transactions as of: 13 Jul 2021
Net transactions value: +$69,901
Form type: 4
Filing time: 15 Jul 2021, 17:02:17 UTC
Previous filing: 12 Jul 2021
Next filing: 20 Jul 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AIRT	Common Stock	Purchase	$42,765	+1,723	+0.18%	$24.82	944,476	13 Jul 2021	By AO Partners I, LP	F1, F2, F3
transaction	AIRT	Common Stock	Purchase	$19,968	+800	+0.08%	$24.96	945,276	14 Jul 2021	By AO Partners I, LP	F1, F3, F4
transaction	AIRT	Common Stock	Purchase	$7,169	+287	+0.03%	$24.98	945,563	15 Jul 2021	By AO Partners I, LP	F1, F3, F5
holding	AIRT	Common Stock						59,170	13 Jul 2021	Direct
holding	AIRT	Common Stock						94,938	13 Jul 2021	By Glenhurst Co.	F6
holding	AIRT	Common Stock						53,301	13 Jul 2021	By Groveland Capital, LLC	F7
holding	AIRT	Common Stock						169,806	13 Jul 2021	By Groveland DST, LLC	F8

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	AIRT	Common Stock						3,750	13 Jul 2021	Common Stock	3,750	$8.62	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The purchases reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 31, 2020.
F2	The price reported in Column 4 is a weighted average price. The prices actually received ranged from $24.45 to $24.98. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.
F3	The reported securities are owned directly by AO Partners I. L.P., and indirectly by AO Partners, LLC, as General Partner of AO Partners I. L.P., and Nicholas J. Swenson as Managing Member of AO Partners, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F4	The price reported in Column 4 is a weighted average price. The prices actually received ranged from $24.70 to $25.10. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.
F5	The price reported in Column 4 is a weighted average price. The prices actually received ranged from $24.90 to $25.025. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.
F6	The reported securities are owned directly by Glenhurst Co., a Minnesota corporation, wholly owned by Nicholas J. Swenson.
F7	The reported securities are owned directly by Groveland Capital, LLC and indirectly by Nicholas J. Swenson as the sole managing member and president of Groveland Capital, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F8	The reported securities are owned directly by Groveland DST, LLC and indirectly by Nicholas J. Swenson as the sole managing member and president of Groveland DST, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.