Sec Form 4 Filing - Nicholson Kenneth J. @ Fortress Transportation & Infrastructure Investors LLC - 2021-03-16

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Nicholson Kenneth J. 2. Issuer Name and Ticker or Trading Symbol Fortress Transportation & Infrastructure Investors LLC [ FTAI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 1345 AVENUE OF THE AMERICAS 3. Date of Earliest Transaction (MM/DD/YY) 03/16/2021 (Street) NEW YORK, NY10105 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Option (right to buy) $ 12.72 03/16/2021 A 225 ( 1 )( 2 ) 07/06/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 225 $ 0 225 D Stock Option (right to buy) $ 12.71 03/16/2021 A 75 ( 1 )( 2 ) 07/07/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 75 $ 0 75 D Stock Option (right to buy) $ 12.94 03/16/2021 A 71 ( 1 )( 2 ) 07/08/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 71 $ 0 71 D Stock Option (right to buy) $ 12.94 03/16/2021 A 71 ( 1 )( 2 ) 07/13/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 71 $ 0 71 D Stock Option (right to buy) $ 13.27 03/16/2021 A 69 ( 1 )( 2 ) 07/14/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 69 $ 0 69 D Stock Option (right to buy) $ 14.75 03/16/2021 A 950 ( 1 )( 2 ) 07/29/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 950 $ 0 950 D Stock Option (right to buy) $ 14.49 03/16/2021 A 68 ( 1 )( 2 ) 07/30/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 68 $ 0 68 D Stock Option (right to buy) $ 14.86 03/16/2021 A 198 ( 1 )( 2 ) 07/31/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 198 $ 0 198 D Stock Option (right to buy) $ 15.1 03/16/2021 A 63 ( 1 )( 2 ) 08/04/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 63 $ 0 63 D Stock Option (right to buy) $ 14.89 03/16/2021 A 195 ( 1 )( 2 ) 08/05/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 195 $ 0 195 D Stock Option (right to buy) $ 15 03/16/2021 A 259 ( 1 )( 2 ) 08/06/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 259 $ 0 259 D Stock Option (right to buy) $ 15.72 03/16/2021 A 248 ( 1 )( 2 ) 08/07/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 248 $ 0 248 D Stock Option (right to buy) $ 16.83 03/1 6/2021 A 696 ( 1 )( 2 ) 08/10/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 696 $ 0 696 D Stock Option (right to buy) $ 16.9 03/16/2021 A 870 ( 1 )( 2 ) 08/11/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 870 $ 0 870 D Stock Option (right to buy) $ 16.93 03/16/2021 A 816 ( 1 )( 2 ) 08/12/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 816 $ 0 816 D Stock Option (right to buy) $ 16.95 03/16/2021 A 358 ( 1 )( 2 ) 08/13/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 358 $ 0 358 D Stock Option (right to buy) $ 17.06 03/16/2021 A 178 ( 1 )( 2 ) 08/14/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 178 $ 0 178 D Stock Option (right to buy) $ 16.98 03/16/2021 A 298 ( 1 )( 2 ) 08/17/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 298 $ 0 298 D Stock Option (right to buy) $ 17.27 03/16/2021 A 176 ( 1 )( 2 ) 08/18/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 176 $ 0 176 D Stock Option (right to buy) $ 16.77 03/16/2021 A 364 ( 1 )( 2 ) 08/19/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 364 $ 0 364 D Stock Option (right to buy) $ 16.63 03/16/2021 A 369 ( 1 )( 2 ) 08/20/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 369 $ 0 369 D Stock Option (right to buy) $ 16.72 03/16/2021 A 183 ( 1 )( 2 ) 08/21/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 183 $ 0 183 D Stock Option (right to buy) $ 16.59 03/16/2021 A 117 ( 1 )( 2 ) 08/25/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 117 $ 0 117 D < span class="form4-data"> Stock Option (right to buy) $ 16.92 03/16/2021 A 230 ( 1 )( 2 ) 08/26/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 230 $ 0 230 D Stock Option (right to buy) $ 16.62 03/16/2021 A 941 ( 1 )( 2 ) 08/27/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 941 $ 0 941 D Stock Option (right to buy) $ 16.1 03/16/2021 A 548 ( 1 )( 2 ) 08/28/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 548 $ 0 548 D Stock Option (right to buy) $ 16.04 03/16/2021 A 181 ( 1 )( 2 ) 08/31/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 181 $ 0 181 D Stock Option (right to buy) $ 16.03 03/16/2021 A 4,182 ( 1 )( 2 ) 09/01/2030( 3 ) Common Stock, par value $0.01 per share ( 4 ) 4,182 $ 0 4,182 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Nicholson Kenneth J. 1345 AVENUE OF THE AMERICAS NEW YORK, NY10105 X Signatures /s/ Cameron MacDougall, as Attorney-in-fact 03/17/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Tandem awards correspond on a one-to-one basis with options granted to FIG LLC, the Company's manager (or an affiliate of the Company's manager), such that exercise by an employee of the tandem award would result in the corresponding option held by the manager being cancelled. Upon the grant of options to the manager (or an affiliate), such options are fully vested and become exercisable over a 30-month period (the "Total Exercisability Period") in monthly installments beginning on the first of each month following the month in which the options were granted. (Continued in Footnote 2) ( 2 )When tandem awards are granted with respect to manager options, the manager options become exercisable in monthly installments over a portion of the Total Exercisability Period equal to the product of (i) the ratio of manager options not subject to corresponding tandem options to the total number of manager options (including manager options underlying such tandem awards subject to corresponding tandem options) multiplied by (ii) 30 (such period, the "Manager Exercisability Period"). Following the Manager Exercisability Period, the tandem awards vest in monthly installments on the first of each month over the remainder of the Total Exercisability Period and become exercisable only at the end of the Total Exercisability Period. ( 3 )Represents the expiration date of the related manager option. In general, the expiration date of the tandem award occurs prior to the expiration date of the underlying option. ( 4 )Tandem awards will be settled in an amount of cash equal to the excess of the fair market value of a share of our common stock on the date of exercise over the fair market value on the date of grant, unless advance approval is given by the Board of Directors or an officer of the Company, as applicable, to settle the tandem awards in shares.

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