Michael C. Kuehn - 24 Feb 2022 Form 4 Insider Report for ASTRONICS CORP (ATRO)

Role: Executive Vice President
Signature: /s/Julie Davis, as Power of Attorney for Michael Kuehn
Issuer symbol: ATRO
Transactions as of: 24 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 28 Feb 2022, 15:40:14 UTC
Previous filing: 13 Dec 2021
Next filing: 15 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	ATRO	$.01 PV Com Stk						772	24 Feb 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ATRO	Restricted Stock Unit	Award	$0	+12,550		$0.000000	12,550	24 Feb 2022	$.01 PV Com Stk	12,550		Direct	F1, F6
holding	ATRO	Option						8,050	24 Feb 2022	$.01PV Com Stk	8,050	$35.61	Direct
holding	ATRO	Option						1,208	24 Feb 2022	$.01 PV Cl B Stk	1,208	$35.61	Direct
holding	ATRO	Option						12,360	24 Feb 2022	$.01PV Com Stk	12,360	$31.57	Direct
holding	ATRO	Restricted Stock Unit						2,465	24 Feb 2022	$.01 PV Com Stk	2,465		Direct	F1, F2
holding	ATRO	Option						18,150	24 Feb 2022	$.01PV Com Stk	18,150	$30.04	Direct
holding	ATRO	Restricted Stock Unit						8,650	24 Feb 2022	$.01PV Com Stk	8,650		Direct	F1, F3
holding	ATRO	Option						27,000	24 Feb 2022	$.01PV Com Stk	27,000	$14.45	Direct
holding	ATRO	Restricted Stock Unit						680	24 Feb 2022	$.01PV Com Stk	680		Direct	F1, F4
holding	ATRO	Restricted Stock Unit						10,450	24 Feb 2022	$.01 PV Com Stk	10,450		Direct	F1, F5
holding	ATRO	Option						32,700	24 Feb 2022	$.01 PV COM STK	32,700	$11.13	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
F2	Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period of January 1, 2019-December 31, 2021. The "target" number of restricted stock units is reported. Between 75% and 115%of the target number of units may vest on December 31, 2021, with the vesting percentage determined based on actual performance.
F3	Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January1, 2020- December 31, 2022. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on December 31, 2022, with the vesting percentage determined based on actual performance.
F4	These restricted stock units vest ratably on each anniversary of the grant date over three years.
F5	Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January1, 2021- December 31, 2023. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on December 31, 2023, with the vesting percentage determined based on actual performance.
F6	Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January1, 2022- December 31, 2024. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on February 24, 2025, with the vesting percentage determined based on actual performance.