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Ownership Document |
Schema Version: X0508 |
Document Type: 4 |
Period of Report: 12/28/23 |
Issuer: |
| Issuer CIK: 353184 |
| Issuer Name: AIR T INC |
| Issuer Trading Symbol: AIRT |
Reporting Owner: |
| Reporting Owner ID: |
| | Owner CIK: 1478067 |
| | Owner Name: Swenson Nicholas John |
| Reporting Owner Address: |
| | Owner Street 1: 5000 WEST 36TH STREET |
| | Owner Street 2: SUITE 200 |
| | Owner City: MINNEAPOLIS |
| | Owner State: MN |
| | Owner ZIP Code: 55416 |
| | Owner State Description: |
| Reporting Owner Relationship: |
| | Is Director? Yes |
| | Is Officer? Yes |
| | Is Ten Percent Owner? Yes |
| | Officer Title: CEO |
Aff 10b5 One? No |
Non-Derivative Table: |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Stock |
| | Transaction Date: |
| | | Value: 12/28/23 |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: G |
| | | Equity Swap Involved? No |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 611 |
| | | Transaction Price Per Share: |
| Value: 0 |
| | | Transaction Acquired-Disposed Code: |
| Value: D |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 52,690 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: I |
| | | Nature of Ownership: |
| Value: By Groveland Capital, LLC |
| Footnote ID: F1 |
| Non-Derivative Holding: |
| | Security Title: |
| | | Value: Common Stock |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 62,920 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Non-Derivative Holding: |
| | Security Title: |
| | | Value: Common Stock |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 972,584 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: I |
| | | Nature of Ownership: |
| Value: By AO Partners I, LP |
| Footnote ID: F2 |
| Non-Derivative Holding: |
| | Security Title: |
| | | Value: Common Stock |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 94,938 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: I |
| | | Nature of Ownership: |
| Value: By Glenhurst Co. |
| Footnote ID: F3 |
| Non-Derivative Holding: |
| | Security Title: |
| | | Value: Common Stock |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 169,806 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: I |
| | | Nature of Ownership: |
| Value: By Groveland DST, LLC |
| Footnote ID: F4 |
Footnotes: |
| Footnote - F1: 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. |
| Footnote - F2: 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. |
| Footnote - F3: The reported securities are owned directly by Glenhurst Co., a Minnesota corporation, wholly owned by Nicholas J. Swenson. |
| Footnote - F4: 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. |
Owner Signature: |
| Signature Name: /s/ Nicholas J Swenson |
| Signature Date: 12/28/23 |