Michael C. Kuehn - 10 Mar 2023 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: 10 Mar 2023
Net transactions value: -$32,303
Form type: 4
Filing time: 14 Mar 2023, 16:25:08 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 Com Stk	Options Exercise	$0	+6,488	+167%	$0.000000	10,374	10 Mar 2023	Direct
transaction	ATRO	$.01 PV Com Stk	Tax liability	$32,485	-2,245	-22%	$14.47	8,129	10 Mar 2023	Direct	F1
transaction	ATRO	$.01 PV Com Stk	Options Exercise	$0	+227	+2.8%	$0.000000	8,356	10 Mar 2023	Direct
transaction	ATRO	$.01 PV Com Stk	Tax liability	$622	-43	-0.51%	$14.47	8,313	10 Mar 2023	Direct	F1
transaction	ATRO	$.01 PV Com Stk	Other	$804	+63	+0.76%	$12.81	8,375	13 Mar 2023	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	-6,488	-100%	$0.000000^*	0	10 Mar 2023	$.01PV Com Stk	8,650		Direct	F3, F4
transaction	ATRO	Restricted Stock Unit	Options Exercise	$0	-227	-50%	$0.000000	226	10 Mar 2023	$.01PV Com Stk	453		Direct	F3, F5
holding	ATRO	Option						8,050	10 Mar 2023	$.01PV Com Stk	8,050	$35.61	Direct
holding	ATRO	Option						1,208	10 Mar 2023	$.01 PV Cl B Stk	1,208	$35.61	Direct
holding	ATRO	Option						12,360	10 Mar 2023	$.01PV Com Stk	12,360	$31.57	Direct
holding	ATRO	Option						18,150	10 Mar 2023	$.01PV Com Stk	18,150	$30.04	Direct
holding	ATRO	Option						27,000	10 Mar 2023	$.01PV Com Stk	27,000	$14.45	Direct
holding	ATRO	Restricted Stock Unit						10,450	10 Mar 2023	$.01 PV Com Stk	10,450		Direct	F3, F6
holding	ATRO	Option						32,700	10 Mar 2023	$.01 PV COM STK	32,700	$11.13	Direct
holding	ATRO	Restricted Stock Unit						12,550	10 Mar 2023	$.01 PV Com Stk	12,550		Direct	F3, F7
holding	ATRO	Option						35,600	10 Mar 2023	$.01 PV COM STK	35,600	$9.74	Direct
holding	ATRO	Restricted Stock Unit						11,500	10 Mar 2023	$.01 PV COM STK	11,500		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, 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	These restricted stock units vest ratably on each anniversary of the grant date over three years.
F6	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.
F7	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.
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.