DAVID C. BURNEY - 10 Mar 2023 Form 4 Insider Report for ASTRONICS CORP (ATRO)

Role
VP-FINANCE, CFO
Signature
/S/Julie Davis, as power of attorney for David C. Burney
Issuer symbol
ATRO
Transactions as of
10 Mar 2023
Net transactions value
-$30,350
Form type
4
Filing time
14 Mar 2023, 16:20:10 UTC
Previous filing
27 Feb 2023
Next filing
02 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 +4,969 +11% $0.000000 49,979 10 Mar 2023 Direct
transaction ATRO $.01 PV COMMON STOCK Tax liability $29,736 -2,055 -4.1% $14.47 47,924 10 Mar 2023 Direct F1
transaction ATRO $.01 PV COMMON STOCK Options Exercise $0 +219 +0.46% $0.000000 48,143 10 Mar 2023 Direct
transaction ATRO $.01 PV COMMON STOCK Tax liability $1,317 -91 -0.19% $14.47 48,052 10 Mar 2023 Direct F1
transaction ATRO $.01 PV COMMON STOCK Other $702 +55 +0.11% $12.81 48,107 13 Mar 2023 Direct F2
holding ATRO $.01 PV CLASS B STOCK 191,833 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 -4,969 -100% $0.000000* 0 10 Mar 2023 $.01 PV COM STK 6,625 Direct F3, F4
transaction ATRO Restricted Stock Unit Options Exercise $0 -219 -50% $0.000000 220 10 Mar 2023 $.01 PV COM STK 436 Direct F3, F6
holding ATRO OPTION 2,600 10 Mar 2023 $.01 PV COM STK 2,600 $28.45 Direct
holding ATRO Option 2,145 10 Mar 2023 $.01 PV CL B STK 2,145 $28.45 Direct
holding ATRO OPTION 3,150 10 Mar 2023 $.01 PV COM STK 3,150 $30.83 Direct
holding ATRO Option 1,641 10 Mar 2023 $.01 PV CL B STK 1,641 $30.83 Direct
holding ATRO Option 4,100 10 Mar 2023 $.01 PV COM STK 4,100 $27.72 Direct
holding ATRO Option 1,322 10 Mar 2023 $.01 PV CL B STK 1,322 $27.72 Direct
holding ATRO Option 4,370 10 Mar 2023 $.01 PV COM STK 4,370 $31.76 Direct
holding ATRO Option 656 10 Mar 2023 $.01 PV CL B STK 656 $31.76 Direct
holding ATRO Option 6,350 10 Mar 2023 $.01 PV COM STK 6,350 $35.61 Direct
holding ATRO Option 953 10 Mar 2023 $.01 PV CL B STK 953 $35.61 Direct
holding ATRO Option 8,410 10 Mar 2023 $.01 PV COM STK 8,410 $31.57 Direct
holding ATRO Option 13,600 10 Mar 2023 $.01 PV COM STK 13,600 $30.04 Direct
holding ATRO Option 20,250 10 Mar 2023 $.01 PV COM STK 20,250 $14.45 Direct
holding ATRO Restricted Stock Unit 8,000 10 Mar 2023 $.01 PV COM STK 8,000 Direct F3, F5
holding ATRO Option 24,500 10 Mar 2023 $.01 PV COM STK 24,500 $11.13 Direct
holding ATRO Restricted Stock Unit 9,600 10 Mar 2023 $.01 PV COM STK 9,600 Direct F3, F7
holding ATRO Option 26,700 10 Mar 2023 $.01 PV COM STK 26,700 $9.74 Direct
holding ATRO Restricted Stock Unit 8,800 10 Mar 2023 $.01 PV COM STK 8,800 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 Corp. 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, 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.
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 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 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.
F8 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.