Company: AIRTP
Filing Date: 2025-08-12
Form Type: 10-K/A
Source: 0000353184-25-000069
Chunk: 116

Company: AIR T INC
Filing Date: 2025-08-12
Form: 10-K/A
Chunk 116
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 Stock Option Plan

Air T, Inc.’s 2012 Stock Option Plan terminated in 2022. The last of the activity under this plan occurred during the year ended March 31, 2024. As of March 31, 2024 no unrecognized compensation expense related to the Air T's 2012 stock options and no stock-based compensation expense with respect to this plan was recognized for the year ended March 31, 2024. Nounexpired options remained outstanding under this plan as of March 31, 2024.

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There was no activity related to this plan during the fiscal year ended March 31, 2025. The final outstanding options after termination of this plan in 2022 were exercised or forfeited during the fiscal year ended March 31, 2024 as summarized in the table below (in thousands, except for shares):

|                                              |     | Shares |        |     | Weighted       
 Average        
 Exercise Price 
 Per Share      |      |     | Weighted     
 Average      
 Remaining    
 Life (Years) |     |     |     | Aggregate 
 Intrinsic 
 Value     |         |
|:---------------------------------------------|:----|:-------|-------:|:----|:---------------|-----:|:----|:-------------|:----|----:|:----|:----------|--------:|
| Outstanding at Outstanding at March 31, 2023 |     |        |  7,500 |     | $              | 7.04 |     |              |     | 0.4 |     | $         | 135,075 |
| Granted                                      |     |        |      — |     |                |    — |     |              |     |     |     |           |         |
| Exercised                                    |     |        | -3,750 |     |                | 7.04 |     |              |     |     |     |           |         |
| Forfeited                                    |     |        | -3,750 |     |                | 7.04 |     |              |     |     |     |           |         |
| Repurchased                                  |     |        |      — |     |                |    — |     |              |     |     |     |           |         |
| Outstanding at Outstanding at March 31, 2024 |     |        |      — |     |                |    — |     |              |     |