PORCELAIN MICHAEL 4

What Happened
Michael Porcelain, a director of Air Industries Group (AIRI), received a grant of 60,791 restricted stock units (RSUs) on 2026-02-12. The award was reported as a derivative acquisition at $0.00 per unit (no cash paid). RSUs give the holder the right to receive common stock at settlement rather than immediate shares.

Key Details

• Transaction date: 2026-02-12; reported on Form 4 filed 2026-02-17 (filed one business day late relative to the usual two-business-day Form 4 deadline).
• Grant: 60,791 RSUs; reported price per unit $0.00 (award).
• Shares owned after transaction: not specified in this Form 4.
• Footnotes from the filing:
  • F1: Each RSU equals one share at settlement. RSUs "vested upon grant" but settlement is delayed until the later of (A) the first anniversary of the award date or (B) a qualifying Change in Control; if no Change in Control by 18 months after the award date, vested RSUs will be settled on that 18‑month anniversary.
  • F2: Notes a partial vesting schedule (5,000 on 12/31/2025; 2,500 on 2/28/2026; 2,500 on 5/31/2026) as disclosed in the filing.
  • F3: "Exercisable in full" is referenced in the filing (reported as a related notation).
• Transaction type: Award/Grant of derivative securities (RSUs), not an open‑market purchase or sale.

Context

• RSU grants are typically compensation/incentive awards and do not equal immediate share ownership until settlement; they are different from a purchase (which can be a bullish signal) or a sale.
• Because the filing was submitted after the standard two-business-day window, it was late by one business day; late filings are usually administrative but can be reviewed by the SEC.