Company: AIRTP
Filing Date: 2025-07-03
Form Type: DEF 14A
Source: 0000353184-25-000055
Chunk: 13

Company: AIR T INC
Filing Date: 2025-07-03
Form: DEF 14A
Chunk 13
---
 the role of Lead Independent Director in 2019 to lead executive sessions, act as an intermediary between the other “independent” directors and the Chairman, to act in the Chairman’s place should he be unavailable, and to act as a liaison between the stockholders and the Board of Directors. Raymond Cabillot has acted as Lead Independent Director since 2019.

<div align='center'>10</div>

#### Director Compensation
During the fiscal year ended March 31, 2025, each non-employee director received a director’s fee of $1,500 per month and an attendance fee of $750 for each meeting of the Board of Directors or a committee thereof, including any special committee. Members of the Audit Committee received, in lieu of the meeting fee, a monthly fee of $1,750, while the Chairman of the Audit Committee received a monthly fee of $2,600. The Lead Independent Director receives a stipend of $500 per month.

The following table sets forth the compensation earned by each of the Company’s non-employee directors in the fiscal year ended March 31, 2025. All compensation was paid in cash.

| Name              |     | Total ($) |
| Raymond Cabillot  |     |    51,000 |
| William Foudray   |     |    21,750 |
| Gary Kohler       |     |    21,000 |
| Peter McClung     |     |    45,000 |
| Travis Swenson    |     |    54,450 |
| Jamie Thingelstad |     |    42,000 |

#### Committees of the Board of Directors
The Board of Directors has three standing committees: the Audit Committee, the Compensation Committee, and the Nominating Committee. The Board of Directors presently expects that the membership of each committee will remain the same following the Annual Meeting.

The Audit Committee currently consists of Messrs. Travis Swenson, McClung and Cabillot, with Mr. Travis Swenson serving as chairman. The Audit Committee met five (5) times during the fiscal year. The authority and responsibilities of the Audit Committee are set forth in a charter adopted by the Board of Directors. A copy of the current Charter is available on the Company’s website (www.airt.net) on the “Corporate Governance” page under the “Investors” tab. The principal functions of the Audit Committee, included in the charter, are to select and retain the firm of independent auditors to serve the Company each fiscal year