---
schema_version: "secwatch.filing_event.v1"
accession: "0000353184-24-000059"
form_type: "8-K"
ticker: "AIRT"
cik: "0000353184"
company_name: "AIR T INC"
filed_at: "2024-05-31T23:59:59+00:00"
generated_at: "2026-06-01T07:17:03.807013+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Air T subsidiary CAS redeems 16% of CEO's interest for $4.57M plus earnout

## Summary
- CAS will redeem 16% of Joe Kuhn’s 21% membership interest for $4.57M via secured subordinated note.
- Note bears interest at 10-year Treasury + 375 bps; 12-month interest-only then 3-year amortization with deferral if loan default risk.
- Earnout: annual payment of 9.14% of CAS Adjusted EBITDA above $7M through FY2029, subordinated to senior debt.
- Remaining 5% interest subject to put/call from April 2026 at 5% of CAS Equity Value (9x avg EBITDA minus debt).
- Transaction effective April 1, 2024; related-party with CAS's CEO.

## SEC filing metadata
- accession: 0000353184-24-000059
- form_type: 8-K
- ticker: AIRT
- cik: 0000353184
- company_name: AIR T INC
- filed_at: 2024-05-31T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/353184/000035318424000059/0000353184-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/353184/000035318424000059/airt-20240531.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000353184-24-000059
- JSON: https://secwatch.observer/filing/0000353184-24-000059.json
- Plain text: https://secwatch.observer/filing/0000353184-24-000059.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.