Air T (NASDAQ: AIRT) director resigns to serve as CFO of acquired airline Rex

Rhea-AI Filing Summary

Air T, Inc. reported that board member Travis Swenson resigned as a director and as Chair of the Audit Committee effective March 9, 2026. He stepped down to become Chief Financial Officer of the company’s recently acquired regional airline, Regional Express Holdings Limited (Rex), with his role there beginning immediately.

The company stated that his resignation was not due to any disagreement regarding operations, policies, or practices. Lead Independent Director Raymond Cabillot, already serving on the Audit Committee, has been appointed Audit Committee Chair effective immediately, helping maintain continuity in the company’s board oversight.

Insights

Corporate governance analyst

Board reshuffle moves a director into an operating CFO role while preserving audit oversight continuity.

Air T, Inc. disclosed that director Travis Swenson left the board and his role as Audit Committee Chair to serve as CFO of its recently acquired airline, Rex. This shifts his focus from board-level oversight to day-to-day financial leadership within a key operating subsidiary.

The company emphasized there was no disagreement over operations, policies, or practices, which reduces concern about hidden governance conflicts. Lead Independent Director Raymond Cabillot stepping in as Audit Committee Chair maintains an experienced hand overseeing financial reporting and controls at the parent level.

Future company filings may clarify how Swenson’s move influences integration of Rex and consolidated financial reporting, as the new CFO role at the subsidiary could affect how performance and risks are managed and presented across the broader organization.

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______________________________________________________________________________

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549  

______________________________________________________________________________

FORM 8-K 

______________________________________________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange     Act of 1934

Date of report (Date of earliest event reported): March 9, 2026

______________________________________________________________________________

AIR T, INC.

(Exact Name of Registrant as Specified in Charter)  

______________________________________________________________________________

Delaware

001-35476

52-1206400

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

11020 David Taylor Drive, Suite 305,

Charlotte, North Carolina 28262

(Address of Principal Executive Offices, and Zip Code)

________________(980) 595-2840__________________

Registrant’s Telephone Number, Including Area Code

Not applicable___

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐			Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock			AIRT			NASDAQ Capital Market
Alpha Income Preferred Securities (also referred to as 8% Cumulative Capital Securities) (“AIP”)			AIRTP			NASDAQ Global Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

			Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
☐			Emerging growth company
☐			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.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 9, 2026, Travis Swenson (the “Director”) notified the Board of Directors of Air T, Inc. (the “Company”) of his resignation as a director of the Company, effective March 9, 2026. In connection with his resignation, the Director also resigned as Chair of the Audit Committee of the Board. Mr. Swenson has resigned from the Board in order to accept the role of Chief Financial Officer of the Company’s recently acquired regional airline, Regional Express Holdings Limited (“Rex”). Mr. Swenson’s role with Rex commences immediately.

Mr. Swenson’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Lead Independent Director Raymond Cabillot, a current member of the Company’s Audit Committee, will take over as Audit Committee Chair effective immediately.

Item 9.01 Financial Statements and Exhibits

99.1 Resignation letter of Travis Swenson, dated March 9, 2026

SIGNATURES

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.

Date: March 10, 2026

AIR T, INC.

By: /s/ Tracy Kennedy

Tracy Kennedy, Chief Financial Officer

FAQ

What board change did Air T, Inc. (AIRT) report in this 8-K?

Air T reported that director Travis Swenson resigned from its board and as Audit Committee Chair effective March 9, 2026. Lead Independent Director Raymond Cabillot, already on the Audit Committee, was appointed the new Audit Committee Chair effective immediately, maintaining continuity of financial oversight.

Why did Travis Swenson resign from Air T, Inc. (AIRT)’s board?

He resigned to accept the role of Chief Financial Officer at Regional Express Holdings Limited (Rex), Air T’s recently acquired regional airline. His new CFO role at Rex commences immediately, shifting his involvement from board-level oversight into operational financial leadership at the subsidiary.

Did Travis Swenson leave Air T, Inc. (AIRT) over any disagreement with the company?

No. The company stated that Mr. Swenson’s resignation was not the result of any disagreement concerning Air T’s operations, policies, or practices. This disclosure is meant to reassure investors that his departure reflects a role change, not underlying governance or strategic conflicts.

Who is the new Audit Committee Chair at Air T, Inc. (AIRT)?

Lead Independent Director Raymond Cabillot has become the new Audit Committee Chair effective immediately. He was already serving as a member of the Audit Committee, so his appointment promotes continuity in board oversight of financial reporting, controls, and audit matters at the parent company level.

What new role will former Air T, Inc. (AIRT) director Travis Swenson hold at Rex?

He will serve as Chief Financial Officer of Regional Express Holdings Limited (Rex), the regional airline recently acquired by Air T. His CFO role at Rex begins immediately, placing him in charge of that subsidiary’s financial management and reporting instead of parent-level board duties.

How does this leadership change affect Air T, Inc. (AIRT)’s relationship with Rex?

The change places a former Air T director directly in the CFO position at Rex, potentially strengthening alignment between the parent and its recently acquired airline. At the same time, Air T’s board retains continuity through Lead Independent Director Raymond Cabillot assuming the Audit Committee Chair role.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 648 B

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.6 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 15.5 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 27.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 16.2 KB