Company: AIRTP
Filing Date: 2025-06-23
Form Type: PRE 14A
Source: 0000353184-25-000035
Chunk: 32

Company: AIR T INC
Filing Date: 2025-06-23
Form: PRE 14A
Chunk 32
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 for a significant financing but will need to raise further funding as it has done in preceding years.

No stockholder appraisal rights will be applicable in connection with the Amendment.

If the Amendment is approved at the Annual Meeting, our Board of Directors intends to implement the Amendment by filing an amendment to our Restated Certificate of Incorporation with the Secretary of State of the State of Delaware as contemplated by the proposed form of “Certificate of Amendment” attached hereto as Appendix A. We currently have no plans with respect to the use of, or issuance of, shares of Preferred Stock.

The Board believes it is prudent to increase the authorized number of shares of Preferred Stock in order to maintain a sufficient reserve of shares available for immediate issuance to meet business needs and to support the Company’s continued strategic deployment of capital.

Potential Anti-Takeover Effects of the Increase in Authorized Preferred Stock

The implementation of an increase in number of authorized preferred stock could have an anti-takeover effect. The Board of Directors can establish the rights and preferences of the terms of various series of preferred stock and such stock could be used to deter any takeover attempt. Although preferred stock could, under certain circumstances, have a potential anti-takeover effect, the proposed amendment to our Restated Certificate of Incorporation is not in response to any effort of which we are aware to accumulate securities or obtain control of the Company. There are no plans or proposals to adopt other provisions or enter into other arrangements that may have material anti-takeover consequences.

We are currently not engaged in any negotiations or otherwise have no specific plans to use the additional authorized shares for any acquisition, merger or consolidation.

The Board of Directors has approved the proposed amendment and recommends a vote “FOR” the proposal to approve an amendment to our Restated Certificate of Incorporation to increase the number of authorized shares of our Preferred Stock, $1.00 par value per share, from 2,000,000 to 4,000,000 (Item 3 on the enclosed proxy card).

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PROPOSAL 4 –VOTE ON THE ADVISORY (NON-BINDING) PROPOSAL FOR THE FREQUENCY OF SAY-ON-PAY</div>

As required under the rules adopted by the U.S. Congress and pursuant to section 14A of the Securities Exchange Act of 1934, in connection with the say-on-pay vote described in Proposal 2 above, our stockholders also will have an opportunity to cast an advisory, non-binding vote on how frequently future say-on-pay