Nicholas J. Swenson reports share sale and option grants at Air T
Rhea-AI Filing Summary
Nicholas J. Swenson, reporting as a director, CEO and 10% owner, disclosed transactions in common stock of AIR T INC (AIRT) on 08/11/2025. He reported a direct disposition of 62,920 common shares and recorded significant indirect beneficial ownership through affiliated entities: AO Partners I, L.P. (972,584 shares), Glenhurst Co. (94,938), Groveland Capital, LLC (52,690) and Groveland DST, LLC (169,806), totaling 1,290,018 indirect shares. The filing also shows two stock option grants acquired on 08/11/2025: one with a $30 exercise price and one with a $50 exercise price, each covering 4,000 shares (totaling 8,000 options), exercisable on 08/06/2026 and expiring 08/06/2045, with a reported option price of $0. The filing includes standard disclaimers that Swenson disclaims beneficial ownership except to the extent of his pecuniary interest in the entity-owned shares.
Positive
- Acquisition of stock options: Two option grants totaling 8,000 shares were reported, aligning long-term incentive through exercisable options.
- Substantial indirect ownership: Affiliated entities collectively hold 1,290,018 shares, maintaining significant economic exposure.
Negative
- Direct disposition reported: A sale of 62,920 common shares was filed, indicating a reduction in direct holdings.
- Potential dilution from options: Grants cover 8,000 shares that could increase share count if exercised.
Insights
TL;DR: Director sold 62,920 shares and received two option grants totaling 8,000 shares; retains large indirect stake via affiliated entities.
The Form 4 shows a direct disposition of 62,920 common shares and simultaneous receipt of two option grants (4,000 shares each) with strikes at $30 and $50, exercisable 08/06/2026 and expiring 08/06/2045. Indirect beneficial ownership across four affiliated vehicles totals 1,290,018 shares, indicating sustained economic exposure despite the direct sale. The options appear recorded with a $0 price, consistent with compensatory grants. Impact on outstanding float and immediate market pressure appears limited based on the disclosed amounts, but the report is material for tracking insider alignment.
TL;DR: CEO and 10% owner reports entity-held positions and a modest direct sale alongside option awards; ownership structure is through multiple entities.
The disclosure highlights governance-relevant facts: Swenson is identified as Director, CEO and a 10% owner, yet much of the reported holdings are held indirectly through AO Partners I, L.P., Glenhurst Co., Groveland Capital, LLC and Groveland DST, LLC. The filing includes explicit disclaimers limiting claimed beneficial ownership to pecuniary interest. The combination of an immediate disposition and contemporaneous option grants is a common pattern in executive reporting; governance stakeholders will note the layered ownership and the continued sizable indirect stake.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option | 4,000 | $0.00 | $0.00 |
| Grant/Award | Stock Option | 4,000 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (4)
- F1. The reported securities are owned directly by AO Partners I, L.P., and indirectly by AO Partners, LLC, as General Partner of AO Partners I, L.P., and Nicholas J. Swenson as Managing Member of AO Partners, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- F2. The reported securities are owned directly by Glenhurst Co., a Minnesota corporation. Nick Swenson is the President and sole director of Glenhurst Co. Nick Swenson directs the voting of all shares owned by Glenhurst Co. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- F3. The reported securities are owned directly by Groveland Capital, LLC and indirectly by Nicholas J. Swenson as the sole managing member and president of Groveland Capital, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- F4. The reported securities are owned directly by Groveland DST, LLC and indirectly by Nicholas J. Swenson as the sole managing member and president of Groveland DST, LLC. Nicholas J. Swenson disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
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