Company: AIRTP
Filing Date: 2025-06-23
Form Type: PRE 14A
Source: 0000353184-25-000035
Chunk: 28

Company: AIR T INC
Filing Date: 2025-06-23
Form: PRE 14A
Chunk 28
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(a) See note (b) to footnote (2) above for an explanation of the equity award adjustments made in accordance with Item 402(v) of Regulation S-K. The amounts deducted or added in calculating the total average equity award adjustments for the other NEO(s) (excluding Mr. Swenson) are as follows:

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| Year 
 2025 |     | Average Year End Fair Value of Equity Awards Granted in the Year and Outstanding and Unvested at Year End 
 ($)                                                                                                       |     | 20,221 |     | Year over Year Average Change in Fair Value of Outstanding and Unvested Equity Awards 
 ($)                                                                                   |     | (68,111) |     | Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year 
 ($)                                                                                   |     | 0 |     | Average Change in Fair Value to the Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year 
 ($)                                                                                                              |     | 0 |     | Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) |     |   (561) |     | Average Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation 
 ($)                                                                                                                                     |     | 0 |     | Total Average 
 Equity Award  
 Adjustments   
 ($)           |     | (48,450) |
|:-----|:----|:----------------------------------------------------------------------------------------------------------|:----|-------:|:----|:--------------------------------------------------------------------------------------|:----|---------:|:----|:--------------------------------------------------------------------------------------|:----|--:|:----|:-----------------------------------------------------------------------------------------------------------------|:----|--:|:----|:------------------------------------------------------------------------------------------------------------------------|:----|--------:|:----|:----------------------------------------------------------------------------------------------------------------------------------------|:----|--:|:----|:--------------|:----|---------:|
| 2024 |     |                                                                                                           |     |      0 |     |                                                                                       |     |  -37,007 |     |                                                                                       |     | 0 |     |                                                                                                                  |     | 0 |     |                                                                                                                         |     |  -7,012 |     |                                                                                                                                         |     | 0 |     |               |     |  -44,018 |
| 2023 |     |                                                                                                           |     |      0 |     |                                                                                       |     |       47 |