Michael Kuehn - Feb 23, 2023 Form 4 Insider Report for ASTRONICS CORP (ATRO)

Role: Executive Vice President
Signature: /s/Julie Davis, as Power of Attorney for Michael Kuehn
Stock symbol: ATRO
Transactions as of: Feb 23, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/27/2023, 04:26 PM
Previous filing: Dec 20, 2022
Next filing: Mar 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	ATRO	$.01 PV Com Stk						3.89K	Feb 23, 2023	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	+11.5K		$0.00	11.5K	Feb 23, 2023	$.01 PV COM STK	11.5K		Direct	F1, F6
holding	ATRO	Option						8.05K	Feb 23, 2023	$.01PV Com Stk	8.05K	$35.61	Direct
holding	ATRO	Option						1.21K	Feb 23, 2023	$.01 PV Cl B Stk	1.21K	$35.61	Direct
holding	ATRO	Option						12.4K	Feb 23, 2023	$.01PV Com Stk	12.4K	$31.57	Direct
holding	ATRO	Option						18.2K	Feb 23, 2023	$.01PV Com Stk	18.2K	$30.04	Direct
holding	ATRO	Restricted Stock Unit						8.65K	Feb 23, 2023	$.01PV Com Stk	8.65K		Direct	F1, F2
holding	ATRO	Option						27K	Feb 23, 2023	$.01PV Com Stk	27K	$14.45	Direct
holding	ATRO	Restricted Stock Unit						453	Feb 23, 2023	$.01PV Com Stk	453		Direct	F1, F3
holding	ATRO	Restricted Stock Unit						10.5K	Feb 23, 2023	$.01 PV Com Stk	10.5K		Direct	F1, F4
holding	ATRO	Option						32.7K	Feb 23, 2023	$.01 PV COM STK	32.7K	$11.13	Direct
holding	ATRO	Restricted Stock Unit						12.6K	Feb 23, 2023	$.01 PV Com Stk	12.6K		Direct	F1, F5
holding	ATRO	Option						35.6K	Feb 23, 2023	$.01 PV COM STK	35.6K	$9.74	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 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.
F3	These restricted stock units vest ratably on each anniversary of the grant date over three years.
F4	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.
F5	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.
F6	Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2023- December 31, 2025. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on February 23, 2026, with the vesting percentage determined based on actual performance.