Peter J. Gundermann - Mar 10, 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
Stock symbol
ATRO
Transactions as of
Mar 10, 2023
Transactions value $
-$30,112
Form type
4
Date filed
3/14/2023, 04:18 PM
Previous filing
Feb 27, 2023
Next filing
Oct 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ATRO $.01 PV COMMON STOCK Options Exercise $0 +7.63K +16.72% $0.00 53.3K Mar 10, 2023 Direct
transaction ATRO $.01 PV COMMON STOCK Tax liability -$28.9K -2K -3.75% $14.47 51.3K Mar 10, 2023 Direct F1
transaction ATRO $.01 PV COMMON STOCK Options Exercise $0 +351 +0.68% $0.00 51.6K Mar 10, 2023 Direct
transaction ATRO $.01 PV COMMON STOCK Tax liability -$1.23K -85 -0.16% $14.47 51.5K Mar 10, 2023 Direct F1
holding ATRO $.01 PV CLASS B STOCK 743K Mar 10, 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 -7.63K -100% $0.00* 0 Mar 10, 2023 $.01 PV COM ST7631K 10.2K Direct F2, F3
transaction ATRO Restricted Stock Unit Options Exercise $0 -351 -50.07% $0.00 350 Mar 10, 2023 $.01 PV COM STK 701 Direct F2, F4
holding ATRO OPTION 8.3K Mar 10, 2023 $.01 PV COM STK 8.3K $28.45 Direct
holding ATRO OPTION 6.85K Mar 10, 2023 $.01 PV CL B STK 6.85K $28.45 Direct
holding ATRO OPTION 10.1K Mar 10, 2023 $.01 PV COM STK 10.1K $30.83 Direct
holding ATRO OPTION 5.26K Mar 10, 2023 $.01 PV CL B STK 5.26K $30.83 Direct
holding ATRO OPTION 13.7K Mar 10, 2023 $.01 PV COM STK 13.7K $27.72 Direct
holding ATRO Option 4.42K Mar 10, 2023 $.01 PV CL B STK 4.42K $27.72 Direct
holding ATRO Option 14.5K Mar 10, 2023 $.01 PV COM STK 14.5K $31.76 Direct
holding ATRO Option 2.17K Mar 10, 2023 $.01 PV CL B STK 2.17K $31.76 Direct
holding ATRO Option 26.3K Mar 10, 2023 $.01 PV COM STK 26.3K $35.61 Direct
holding ATRO Option 3.95K Mar 10, 2023 $.01 PV CL B STK 3.95K $35.61 Direct
holding ATRO Option 34.8K Mar 10, 2023 $.01 PV COM STK 34.8K $31.57 Direct
holding ATRO Option 61.2K Mar 10, 2023 $.01 PV COM STK 61.2K $30.04 Direct
holding ATRO Option 98.9K Mar 10, 2023 $.01 PV COM STK 98.9K $14.45 Direct
holding ATRO Restricted Stock Unit 12.3K Mar 10, 2023 $.01 PV COM STK 12.3K Direct F2, F5
holding ATRO Option 116K Mar 10, 2023 $.01 PV COM STK 116K $11.13 Direct
holding ATRO Restricted Stock Unit 14.8K Mar 10, 2023 $.01 PV COM STK 14.8K Direct F2, F6
holding ATRO Option 125K Mar 10, 2023 $.01 PV COM STK 125K $9.74 Direct
holding ATRO Restricted Stock Unit 13.6K Mar 10, 2023 $.01 PV COM STK 13.6K 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.