<SEC-DOCUMENT>0000353184-19-000052.txt : 20191126
<SEC-HEADER>0000353184-19-000052.hdr.sgml : 20191126
<ACCEPTANCE-DATETIME>20191126162507
ACCESSION NUMBER:		0000353184-19-000052
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20191123
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20191126
DATE AS OF CHANGE:		20191126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AIR T INC
		CENTRAL INDEX KEY:			0000353184
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR COURIER SERVICES [4513]
		IRS NUMBER:				521206400
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35476
		FILM NUMBER:		191251288

	BUSINESS ADDRESS:	
		STREET 1:		5930 BALSOM RIDGE ROAD
		CITY:			DENVER
		STATE:			NC
		ZIP:			28037
		BUSINESS PHONE:		7043772109

	MAIL ADDRESS:	
		STREET 1:		P O BOX 488
		CITY:			DENVER
		STATE:			NC
		ZIP:			28037

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AIR TRANSPORTATION HOLDING CO INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ATLANTA EXPRESS AIRLINE CORP
		DATE OF NAME CHANGE:	19840321
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-kxstumpfresignat.htm
<DESCRIPTION>8-K STUMPF RESIGNATION - NOVEMBER 25, 2019
<TEXT>
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<title>Document</title></head><body><div id="i_0_1"></div><div style="height:13.5pt;width:100%;"><div><font><br></font></div></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:85.000000%;"><tr><td style="width:1.0%;"></td><td style="width:98.000000%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td></tr></table></div><div style="text-align:center;margin-top:4.4pt;-sec-extract:summary;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:18pt;font-weight:700;line-height:120%;">UNITED STATES</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:18pt;font-weight:700;line-height:120%;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:700;line-height:120%;">WASHINGTON, DC 20549</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:85.000000%;"><tr><td style="width:1.0%;"></td><td style="width:98.000000%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td></tr></table></div><div style="text-align:center;margin-top:13.2pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:18pt;font-weight:700;line-height:120%;">FORM 8-K</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:85.000000%;"><tr><td style="width:1.0%;"></td><td style="width:98.000000%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td></tr></table></div><div style="text-align:center;margin-top:13.2pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:700;line-height:120%;">CURRENT REPORT</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:700;line-height:120%;">Pursuant to Section&#160;13 or 15(d) of the</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:700;line-height:120%;">Securities Exchange Act of 1934</font></div><div style="text-align:center;margin-top:13.2pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:700;line-height:120%;">Date of report (Date of earliest event reported)&#58; </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">November 23, 2019</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:85.000000%;"><tr><td style="width:1.0%;"></td><td style="width:98.000000%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;border-bottom:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td></tr></table></div><div style="text-align:center;margin-top:13.2pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:22pt;font-weight:700;line-height:120%;">Air T, Inc.</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:700;line-height:120%;">(Exact Name of Registrant as Specified in Charter)</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table 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style="font-size:8pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:middle;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);text-decoration: underline;">Delaware</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">&#160;</font></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font 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growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">Emerging growth company &#9744; </font></div><div style="margin-top:6pt;"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</font></div></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div style="text-align:center;"></div><div style="position:relative;width:100%;height:13.5pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:justify;"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:13.5pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:700;line-height:120%;">Section 5 &#8211; Corporate Governance and Management</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:700;line-height:120%;">Item 5.02&#160;Departure of Directors or Certain Officers&#59; Election of Directors&#59; Appointment of Certain Officers&#59; Compensatory Arrangements of Certain Officers.</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:400;line-height:120%;">(b)  On November 23, 2019, Andrew Stumpf resigned from the Board of Directors of Air T, Inc. (the &#8220;Company&#8221;) for personal reasons.  Mr. Stumpf stated he had no disagreements with the Board, management or the Company&#8217;s operations, policies or procedures.  Mr. Stumpf had served on the Board of Directors since November 2014.  On November 25, 2019, the Company&#8217;s Board appointed Ray Cabillot to serve on the Audit Committee, Travis Swenson to serve on the Compensation Committee, and Peter McClung to serve on the Nominating Committee to fill vacancies resulting from Mr. Stumpf&#8217;s resignation. The Board further voted to reduce the number of Directors from eight individuals to seven individuals. </font></div><div><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:700;line-height:120%;">Section 9 &#8211; Financial Statements and Exhibits</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:700;line-height:120%;">Item 9.01.&#160; Financial Statements and Exhibits.</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:400;line-height:120%;">(d)&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-style:italic;font-weight:400;line-height:120%;">Exhibits.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:400;line-height:120%;">&#160; The following document is are hereby filed as an exhibit to this Current Report on Form 8-K&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;">Exhibit No.</font></div><div style="padding-left:36pt;"><font><br></font></div><div style="padding-left:36pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:400;line-height:120%;">99.1&#160;&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman';font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;"><a href="stumpfpressrelease.htm" style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman';font-size:11pt;font-weight:400;line-height:120%;text-decoration: underline;-sec-extract:exhibit;">Press Release dated November 26, 2019</a></font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:11pt;font-weight:400;line-height:120%;">.</font></div><div style="padding-left:36pt;"><font><br></font></div><div style="padding-left:36pt;"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">SIGNATURES</font></div><div style="text-align:justify;"><font><br></font></div><div style="text-indent:36pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">Date&#58; November 26, 2019</font></div><div style="text-align:justify;"><font><br></font></div><div style="padding-left:252pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">AIR T, INC.</font></div><div style="padding-left:252pt;text-align:justify;"><font><br></font></div><div style="padding-left:252pt;text-align:justify;"><font><br></font></div><div style="padding-left:252pt;text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">By&#58;&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;text-decoration: underline;">&#47;s&#47; Brian Ochocki&#160;&#160;&#160;&#160;</font></div><div style="padding-left:271.15pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:12pt;font-weight:400;line-height:120%;">Brian Ochocki, Chief Financial Officer</font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="text-align:justify;"><font><br></font></div><div style="position:relative;width:100%;height:13.5pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:center;"><font><br></font></div></div></div></body></html>
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<DESCRIPTION>EXHIBIT 99.1 STUMPF PRESS RELEASE NOVEMBER 26, 2019
<TEXT>
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<title>Document</title></head><body><div id="i_0_1"></div><div style="height:36pt;width:100%;"><div><font><br></font></div><div style="padding-left:36pt;"><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:12pt;font-weight:700;line-height:133%;">AIR T, INC. ANNOUNCES RESIGNATION OF ANDREW STUMPF, BOARD MEMBER</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:700;line-height:133%;">MINNEAPOLIS, MN, November 25, 2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;"> -- AIR T, INC. (NASDAQ&#58;AIRT), a company organized as a portfolio of powerful businesses that operate independently yet interrelatedly, today announced the resignation of Andrew Stumpf, a member of its Board of Directors. </font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">On November 23, 2019, Andrew Stumpf, Air T Board Member, informed the Company that he is resigning effective immediately for personal reasons. Said Mr. Stumpf, &#8220;I have very much appreciated the opportunity to serve this great company as a member of its Board of Directors these past five years. I feel confident I am leaving it in great hands. I wish the entire Air T team tremendous success, and I look forward to furthering Air T&#8217;s mission and objectives in other interrelated ways.&#8221; Nick Swenson, Air T Chairman and CEO, said&#58; &#8220;We are disappointed to see Andrew leave. He was an outstanding Director these past five years. We truly appreciate his service. The stock has appreciated at a rate far higher than the market generally during his tenure and he was a crucial contributor for many of our most critical issues. We look forward to continuing our work with Andrew in other capacities.&#8221; &#160;</font></div><div style="padding-left:36pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">&#160;</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">With Mr. Stumpf&#8217;s resignation, the Board has voted unanimously to reduce the number of Directors from eight individuals to seven.</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:700;line-height:133%;">ABOUT AIR T, INC.</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">Established in 1980, AIR T, INC. is a powerful portfolio of businesses and financial assets, each of which operate independently yet interrelatedly. The Company&#8217;s three core segments are&#58; overnight air cargo, aviation ground support equipment manufacturing, and commercial aircraft asset management and logistics. Our ownership interests are designed to expand, strengthen and diversify AIR T, INC.&#8217;s cash earnings power. Our goal is to build on AIR T, INC.&#8217;s core businesses, and when appropriate, to expand into adjacent and other industries that we believe fit into the AIR T, INC. portfolio. For more information, visit www.airt.net.</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:700;line-height:133%;">Forward-Looking Statements</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">Statements in this press release, which contain more than historical information, may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties. Actual results may differ materially from those expressed in the forward-looking statements because of important potential risks and uncertainties, including, but not limited to, the risk that contracts with major customers will be terminated or not extended, future economic conditions and their impact on the Company&#8217;s customers, the Company&#8217;s ability to recover on its investments, the timing and amounts of future orders under the Company&#8217;s Global Ground Support subsidiary&#8217;s contract with the United States Air Force, and risks and uncertainties related to business acquisitions, including the ability to successfully achieve the anticipated benefits of the acquisitions, inflation rates, competition, changes in technology or government regulation, information technology disruptions, and the impact of future terrorist activities in the United States and abroad. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. The Company is under no obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.</font></div><div><font><br></font></div><div style="text-align:center;"><font><br></font></div><div style="text-align:center;"><font><br></font></div><div style="text-align:center;"><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">###</font></div><div><font><br></font></div><div></div><div style="position:relative;width:100%;height:36pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:right;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">1</font></div></div></div><hr style="page-break-after:always"><div style="height:36pt;width:100%;"><div><font><br></font></div><div style="padding-left:36pt;"><font><br></font></div></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">Contact</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">AIR T, INC.</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">Brian Ochocki</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">Chief Financial Officer</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;text-decoration: underline;">bochocki&#64;airt.net</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">612.263.9961</font></div><div style="position:relative;width:100%;height:36pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div style="text-align:right;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial';font-size:11pt;font-weight:400;line-height:133%;">2</font></div></div></div></body></html>
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