Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 138

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 138
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-K for the year ended March 31, 2025 for filing with the Securities and Exchange Commission.

June 27, 2025

AUDIT COMMITTEE

Travis Swenson, Chair

Peter McClung

Ray Cabillot

Jamie Thingelstad

Code of Ethics

The Company has adopted a code of ethics applicable to its executive officers and other employees. A copy of the code of ethics is available on the Company’s internet website at http://www.airt.net. The Company intends to post waivers of and amendments to its code of ethics applicable to its principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions on its Internet website.

Item 11.    Executive Compensation.

The information contained under the heading “Executive Compensation,” “Base Salary,” “Incentive and Bonus Compensation,” “Retirement and Other Benefits,” “Executive Compensation Tables,” “Employment Agreement and Retirement Savings Plan” 

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and “Director Compensation” in our Proxy Statement to be filed within 120 days of our fiscal year end, is incorporated herein by reference..

Item 12.    Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

The information contained under the heading “Certain Beneficial Owners of Common Stock,” “Director and Executive Officer Stock Ownership,” in our Proxy Statement to be filed within 120 days of our fiscal year end, is incorporated herein by reference.

Equity Compensation Plan Information

The following table provides information as of March 31, 2025, regarding shares outstanding and available for issuance under Air T, Inc.’s existing equity compensation plans.

Plan CategoryNumber of securitiesto be issued uponexercise ofoutstanding options,warrants and rightsWeighted-averageexercise price ofoutstanding options,warrants and rightsNumber of securitiesremaining availablefor future issuanceunder equitycompensation plans(excluding securitieslisted in first column)Equity compensation plans approved by security holders:Air T 2012 Stock Option Plan— N/A—Air T 2020 Omnibus Stock Option Plan226,000 N/A71,950 Equity compensation plans not approved by security holders:— — — Total226,000 N/A71,950 

Item 13.    Certain Relationships and Related Transactions and Director Independence.

The information contained under the heading “Director Independence” and “Certain Transactions” in our Proxy Statement to be filed within 120 days of our fiscal year end, is incorporated herein by reference.

Item 14.