Brand Michael 4

What Happened

• Michael Brand, a director of Air Industries Group (AIRI), received a grant of 12,159 restricted stock units (RSUs) on February 12, 2026. The award is reported as a derivative grant at $0.00 per share (no cash paid). The filing shows these are RSUs (right to receive shares at settlement), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-02-12; Form 4 filed: 2026-02-17 (filed late relative to the 2-business-day rule).
• Grant size and price: 12,159 RSUs @ $0.00 (derivative award).
• Shares owned after transaction: Not reported in this Form 4.
• Footnotes:
  • F1: Each RSU equals one share at settlement; RSUs vested upon grant but settlement is deferred to the later of the first anniversary of the award or a qualifying Change in Control (with an 18‑month fallback).
  • F2: Specific vesting/settlement schedule noted as 5,000 shares on Dec 31, 2025, 2,500 on Feb 28, 2026 and 2,500 on May 31, 2026.
  • F3: Described as “exerciseable in full.”
• Transaction code: A = Award/Grant.

Context

• These are restricted stock units (a derivative award) that give the holder the right to receive shares later; they are not an immediate cash transaction or sale. Because settlement is deferred per the award terms, the underlying shares may not be issued to the director until the stated settlement dates or certain corporate events. The Form 4 was filed several days after the transaction date, which is later than the usual 2-business-day reporting window.