Michael C. Kuehn - 11 Mar 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: 11 Mar 2022
Net transactions value: -$9,476
Form type: 4
Filing time: 15 Mar 2022, 16:56:33 UTC
Previous filing: 28 Feb 2022
Next filing: 20 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ATRO	$.01 PV Com Stk	Options Exercise	$0	+1,849	+240%	$0.000000	2,621	11 Mar 2022	Direct
transaction	ATRO	$.01 PV Com Stk	Tax liability	$8,435	-640	-24%	$13.18	1,981	11 Mar 2022	Direct	F1
transaction	ATRO	$.01 PV Com Stk	Options Exercise	$0	+227	+11%	$0.000000	2,208	11 Mar 2022	Direct
transaction	ATRO	$.01 PV Com Stk	Tax liability	$1,041	-79	-3.6%	$13.18	2,129	11 Mar 2022	Direct	F1
transaction	ATRO	$.01 PV Com Stk	Other	$0	+925		$0.000000	925	04 Mar 2022	Direct	F2

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	Options Exercise	$0	-2,465	-100%	$0.000000^*	0	11 Mar 2022	$.01 PV Com Stk	0		Direct	F3, F4
transaction	ATRO	Restricted Stock Unit	Options Exercise	$0	-227	-33%	$0.000000	453	11 Mar 2022	$.01PV Com Stk	453		Direct	F3, F6
holding	ATRO	Option						8,050	11 Mar 2022	$.01PV Com Stk	8,050	$35.61	Direct
holding	ATRO	Option						1,208	11 Mar 2022	$.01 PV Cl B Stk	1,208	$35.61	Direct
holding	ATRO	Option						12,360	11 Mar 2022	$.01PV Com Stk	12,360	$31.57	Direct
holding	ATRO	Option						18,150	11 Mar 2022	$.01PV Com Stk	18,150	$30.04	Direct
holding	ATRO	Restricted Stock Unit						8,650	11 Mar 2022	$.01PV Com Stk	8,650		Direct	F3, F5
holding	ATRO	Option						27,000	11 Mar 2022	$.01PV Com Stk	27,000	$14.45	Direct
holding	ATRO	Restricted Stock Unit						10,450	11 Mar 2022	$.01 PV Com Stk	10,450		Direct	F3, F7
holding	ATRO	Option						32,700	11 Mar 2022	$.01 PV COM STK	32,700	$11.13	Direct
holding	ATRO	Restricted Stock Unit						12,550	11 Mar 2022	$.01 PV Com Stk	12,550		Direct	F3, F8

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

Explanation of Responses:

Id	Content
F1	Shares withheld by Astronics Corporation to satisfy applicable withholding tax upon vesting of restricted stock units.
F2	Reflects issuer's contribution to the reporting person's account in the issuer stock fund included in the issuer's 401(k) plan. The shares are held in the 401(k) account.
F3	Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
F4	Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2019-December 31, 2021. The "target" number of restricted stock units is reported in Table II. Based on actual performance, 75% of the target number of units vested on December 31, 2021.
F5	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.
F6	These restricted stock units vest ratably on each anniversary of the grant date over three years.
F7	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.
F8	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.