PETER J. GUNDERMANN - 01 Mar 2024 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: 01 Mar 2024
Net transactions value: $0
Form type: 4
Filing time: 05 Mar 2024, 16:26:42 UTC
Previous filing: 26 Feb 2024
Next filing: 12 Mar 2024
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	Award	$0	+276	+0.53%	$0.000000	52,395	01 Mar 2024	Direct	F1
transaction	ATRO	$.01 PV Com Stk	Tax liability	$0	-82	-0.16%	$0.000000	52,313	01 Mar 2024	Direct	F2
transaction	ATRO	$.01 PV Com Stk	Award	$0	+19,817	+38%	$0.000000	72,130	01 Mar 2024	Direct	F3
transaction	ATRO	$.01 PV Com Stk	Tax liability	$0	-4,959	-6.9%	$0.000000	67,171	01 Mar 2024	Direct	F2
holding	ATRO	$.01 PV CL B STK						743,493	01 Mar 2024	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
holding	ATRO	Option						10,100	01 Mar 2024	$.01 PV Com Stk	10,100	$30.83	Direct
holding	ATRO	Option						5,261	01 Mar 2024	$.01 PV CL B STK	5,261	$30.83	Direct
holding	ATRO	Option						13,700	01 Mar 2024	$.01 PV Com Stk	13,700	$27.72	Direct
holding	ATRO	Option						4,418	01 Mar 2024	$.01 PV CL B STK	4,418	$27.72	Direct
holding	ATRO	Option						14,460	01 Mar 2024	$.01 PV Com Stk	14,460	$31.76	Direct
holding	ATRO	Option						2,169	01 Mar 2024	$.01 PV CL B STK	2,169	$31.76	Direct
holding	ATRO	Option						26,300	01 Mar 2024	$.01 PV Com Stk	26,300	$35.61	Direct
holding	ATRO	Option						3,945	01 Mar 2024	$.01 PV CL B STK	3,945	$35.61	Direct
holding	ATRO	Option						34,790	01 Mar 2024	$.01 PV Com Stk	34,790	$31.57	Direct
holding	ATRO	Option						61,200	01 Mar 2024	$.01 PV Com Stk	61,200	$30.04	Direct
holding	ATRO	Option						98,900	01 Mar 2024	$.01 PV Com Stk	98,900	$14.45	Direct
holding	ATRO	Option						115,800	01 Mar 2024	$.01 PV Com Stk	115,800	$11.13	Direct
holding	ATRO	Option						125,000	01 Mar 2024	$.01 PV Com Stk	125,000	$9.74	Direct
holding	ATRO	Option						83,900	01 Mar 2024	$.01 PV Com Stk	83,900	$15.15	Direct
holding	ATRO	Restricted Stock Unit						350	01 Mar 2024	$.01 PV Com Stk	350		Direct	F4, F5
holding	ATRO	Restricted Stock Unit						12,275	01 Mar 2024	$.01 PV Com Stk	12,275		Direct	F4, F6
holding	ATRO	Restricted Stock Unit						14,750	01 Mar 2024	$.01 PV Com Stk	14,750		Direct	F4, F7
holding	ATRO	Restricted Stock Unit						13,550	01 Mar 2024	$.01 PV Com Stk	13,550		Direct	F4, F8
holding	ATRO	Restricted Stock Unit						26,450	01 Mar 2024	$.01 PV Com Stk	26,450		Direct	F4, F9

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to Astronics Corp. decision to pay out amounts earned by the reporting person under the 2023 bonus plan in shares of the Issuers common stock, par value $0.01 per share, instead of cash, the reporting person was granted the above referenced stock bonus award as a bonus for Q4 2023.
F2	Shares of common stock withheld by Astronics Corp. to satisfy applicable withholding tax upon the grant of the stock bonus award.
F3	Pursuant to Astronics Corp. decision to pay out amounts earned by the reporting person under the 2023 bonus plan in shares of the Issuers common stock, par value $0.01 per share, instead of cash, the reporting person was granted the above referenced stock bonus award as an annual bonus for 2023.
F4	Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
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 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.
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.
F9	Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2024- December 31, 2026. The "target" number of restricted stock units is reported. Between 50% and 150% of the target number of units may vest on February 23, 2027, with the vesting percentage determined based on actual performance.