SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* TAGLICH MICHAEL N (Last) (First) (Middle) C/O TAGLICH BROTHERS, INC. 37 MAIN STREET (Street) COLD SPRING HARBOR NY 11724 (City) (State) (Zip)	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)
	3. Date of Earliest Transaction (Month/Day/Year) 10/05/2020
	4. If Amendment, Date of Original Filed (Month/Day/Year)	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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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	10/05/2020		J(1)		13,872	A	$1.14	3,903,714	D
Common Stock								239,946	I	See Note(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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 (right to purchase)	$2.38							03/31/2020(3)	12/31/2026	Common Stock	10,000		10,000	D
Stock Options	$1.28							(4)	12/31/2025	Common Stock	10,000		10,000	D
Stock Options	$1.59							05/14/2018(5)	05/31/2023	Common Stock	13,000		13,000	D
Stock Options	$4.64							(6)	06/01/2021	Common Stock	3,000		3,000	D
Stock Options (right to purchase)	$1.69							01/02/2018	12/31/2022	Common Stock	3,000		3,000	D
Convertible Notes(7)	$1.5							09/30/2018	12/31/2020	Common Stock	866,666(8)		$1,300,000	D
Convertible Notes	$0.93							01/15/2019	12/31/2020	Common Stock	1,075,268(8)		$1,000,000	D
Convertible Notes	$1.5							09/30/2018	12/31/2020	Common Stock	254,666(8)		$382,000	I	See Note(9)
Convertible Notes	$0.93							01/15/2019	12/31/2020	Common Stock	86,021(8)		$80,000	I	See Note(10)
Warrants	$1.4							10/01/2018	09/30/2023	Common Stock	17,500		17,500	I	See Note(11)
Warrants	$5							08/19/2016	07/31/2021	Common Stock	61,817		61,817	D
Warrants(12)	$6.15							11/27/2016	05/26/2021	Common Stock	16,500		16,500	D
Warrants	$6.15							09/01/2016	07/31/2021	Common Stock	19,300		19,300	D
Warrants	$3							11/23/2016	11/30/2021	Common Stock	88,889		88,889	D
Warrants	$3							12/22/2016	11/30/2021	Common Stock	22,814		111,703	D
Warrants	$3							11/22/2016	11/30/2021	Common Stock	19,000		130,703	D
Warrants	$1.5							01/29/2017	11/30/2022	Common Stock	48,000		48,000	D
Warrants(12)	$3							12/22/2016	11/30/2021	Common Stock	13,000		143,703	D
Warrants(12)	$4.45							02/17/2017	01/31/2022	Common Stock	7,880		7,880	D
Warrants(12)	$3.3							03/08/2017	01/31/2022	Common Stock	4,850		4,850	D
Warrants(12)	$3.78							03/15/2017	01/31/2022	Common Stock	4,775		4,775	D
Warrants(12)	$4							03/21/2017	01/31/2022	Common Stock	964		964	D
Warrants(14)	$1.5(13)							05/12/2017	05/12/2022	Common Stock	98,591(14)		98,591(14)	D
Warrants	$3.78							03/15/2017	01/31/2022	Common Stock	3,354		3,354	I	See Note(15)
Warrants	$4							03/21/2017	01/31/2022	Common Stock	615		615	I	See Note(15)

Explanation of Responses:

1. Shares received in lieu of cash payment of director's fees.

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, 2020, and an additional 2,500 shares on each of June 30, 2020, September 30, 2020 and December 31, 2020.

4. Fully vested as of 12/31/2019.

5. Fully vested as of 12/31/2018.

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. Assignment of a portion of Placement Agent Warrants originally issued to Taglich Brothers, Inc., of which the Reporting Person is Chairman and President.

13. 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.

14. Includes warrants previously owned by a partnership of which Reporting Person was a General Partner, received upon liquidation at the end of 2018.

15. 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.

	/s/ Michael N. Taglich	10/06/2020
	** Signature of Reporting Person	Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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