PETER J. GUNDERMANN - 10 Mar 2023 Form 4 Insider Report for ASTRONICS CORP (ATRO)

Role
PRESIDENT/CEO, Director
Signature
/S/JULIE DAVIS, AS POWER OF ATTORNEY FOR PETER J. GUNDERMANN
Issuer symbol
ATRO
Transactions as of
10 Mar 2023
Net transactions value
-$30,112
Form type
4
Filing time
14 Mar 2023, 16:18:11 UTC
Previous filing
27 Feb 2023
Next filing
16 Oct 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ATRO $.01 PV COMMON STOCK Options Exercise $0 +7,631 +17% $0.000000 53,270 10 Mar 2023 Direct
transaction ATRO $.01 PV COMMON STOCK Tax liability $28,882 -1,996 -3.7% $14.47 51,274 10 Mar 2023 Direct F1
transaction ATRO $.01 PV COMMON STOCK Options Exercise $0 +351 +0.68% $0.000000 51,625 10 Mar 2023 Direct
transaction ATRO $.01 PV COMMON STOCK Tax liability $1,230 -85 -0.16% $14.47 51,540 10 Mar 2023 Direct F1
holding ATRO $.01 PV CLASS B STOCK 743,493 10 Mar 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 Options Exercise $0 -7,631 -100% $0.000000* 0 10 Mar 2023 $.01 PV COM ST7631K 10,175 Direct F2, F3
transaction ATRO Restricted Stock Unit Options Exercise $0 -351 -50% $0.000000 350 10 Mar 2023 $.01 PV COM STK 701 Direct F2, F4
holding ATRO OPTION 8,300 10 Mar 2023 $.01 PV COM STK 8,300 $28.45 Direct
holding ATRO OPTION 6,848 10 Mar 2023 $.01 PV CL B STK 6,848 $28.45 Direct
holding ATRO OPTION 10,100 10 Mar 2023 $.01 PV COM STK 10,100 $30.83 Direct
holding ATRO OPTION 5,261 10 Mar 2023 $.01 PV CL B STK 5,261 $30.83 Direct
holding ATRO OPTION 13,700 10 Mar 2023 $.01 PV COM STK 13,700 $27.72 Direct
holding ATRO Option 4,418 10 Mar 2023 $.01 PV CL B STK 4,418 $27.72 Direct
holding ATRO Option 14,460 10 Mar 2023 $.01 PV COM STK 14,460 $31.76 Direct
holding ATRO Option 2,169 10 Mar 2023 $.01 PV CL B STK 2,169 $31.76 Direct
holding ATRO Option 26,300 10 Mar 2023 $.01 PV COM STK 26,300 $35.61 Direct
holding ATRO Option 3,945 10 Mar 2023 $.01 PV CL B STK 3,945 $35.61 Direct
holding ATRO Option 34,790 10 Mar 2023 $.01 PV COM STK 34,790 $31.57 Direct
holding ATRO Option 61,200 10 Mar 2023 $.01 PV COM STK 61,200 $30.04 Direct
holding ATRO Option 98,900 10 Mar 2023 $.01 PV COM STK 98,900 $14.45 Direct
holding ATRO Restricted Stock Unit 12,275 10 Mar 2023 $.01 PV COM STK 12,275 Direct F2, F5
holding ATRO Option 115,800 10 Mar 2023 $.01 PV COM STK 115,800 $11.13 Direct
holding ATRO Restricted Stock Unit 14,750 10 Mar 2023 $.01 PV COM STK 14,750 Direct F2, F6
holding ATRO Option 125,000 10 Mar 2023 $.01 PV COM STK 125,000 $9.74 Direct
holding ATRO Restricted Stock Unit 13,550 10 Mar 2023 $.01 PV COM STK 13,550 Direct F2, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld by Astronics Corp. to satisfy applicable withholding tax upon vesting of restricted stock units.
F2 Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
F3 Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2020- December 31, 2022. 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, 2022.
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 January 1, 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 January 1, 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.
F7 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.