JAMES S. KRAMER - 08 Mar 2024 Form 4 Insider Report for ASTRONICS CORP (ATRO)

Role: VP Luminescent Systems, Inc.
Signature: /s/Julie Davis, as Power of Attorney for James S. Kramer
Issuer symbol: ATRO
Transactions as of: 08 Mar 2024
Net transactions value: -$38,877
Form type: 4
Filing time: 12 Mar 2024, 17:05:59 UTC
Previous filing: 05 Mar 2024
Next filing: 14 May 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	Options Exercise	$0	+5,531	+18%	$0.000000	36,978	08 Mar 2024	Direct
transaction	ATRO	$.01 PV Com Stk	Tax liability	$37,687	-1,994	-5.4%	$18.90	34,984	08 Mar 2024	Direct	F1
transaction	ATRO	$.01 PV Com Stk	Options Exercise	$0	+174	+0.5%	$0.000000	35,158	08 Mar 2024	Direct
transaction	ATRO	$.01 PV Com Stk	Tax liability	$1,191	-63	-0.18%	$18.90	35,095	08 Mar 2024	Direct	F1
holding	ATRO	$.01 PV CL B STK						123,342	08 Mar 2024	Direct
holding	ATRO	$.01 PV Com Stk						35,555	08 Mar 2024	Estate executor James Kramer
holding	ATRO	$.01 PV CL B STK						279,758	08 Mar 2024	Estate executor James Kramer

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	-174	-100%	$0.000000^*	0	08 Mar 2024	$.01 PV Com Stk	174		Direct	F2, F3
transaction	ATRO	Restricted Stock Unit	Options Exercise	$0	-5,531	-100%	$0.000000^*	0	08 Mar 2024	$.01 PV Com Stk	5,531		Direct	F2, F4
holding	ATRO	Option						2,720	08 Mar 2024	$.01 PV Com Stk	2,720	$30.83	Direct
holding	ATRO	Option						1,417	08 Mar 2024	$.01 PV CL B STK	1,417	$30.83	Direct
holding	ATRO	Option						3,500	08 Mar 2024	$.01 PV Com Stk	3,500	$27.72	Direct
holding	ATRO	Option						1,129	08 Mar 2024	$.01 PV CL B STK	1,129	$27.72	Direct
holding	ATRO	Option						3,670	08 Mar 2024	$.01 PV Com Stk	3,670	$31.76	Direct
holding	ATRO	Option						551	08 Mar 2024	$.01 PV CL B STK	551	$31.76	Direct
holding	ATRO	Option						5,340	08 Mar 2024	$.01 PV Com Stk	5,340	$35.61	Direct
holding	ATRO	Option						801	08 Mar 2024	$.01 PV CL B STK	801	$35.61	Direct
holding	ATRO	Option						7,060	08 Mar 2024	$.01 PV Com Stk	7,060	$31.57	Direct
holding	ATRO	Option						13,600	08 Mar 2024	$.01 PV Com Stk	13,600	$30.04	Direct
holding	ATRO	Option						20,250	08 Mar 2024	$.01 PV Com Stk	20,250	$14.45	Direct
holding	ATRO	Option						24,500	08 Mar 2024	$.01 PV Com Stk	24,500	$11.13	Direct
holding	ATRO	Option						26,700	08 Mar 2024	$.01 PV Com Stk	26,700	$9.74	Direct
holding	ATRO	Option						8,300	08 Mar 2024	$.01 PV Com Stk	8,300	$15.15	Direct
holding	ATRO	Restricted Stock Unit						8,850	08 Mar 2024	$.01 PV Com Stk	8,850		Direct	F2, F5
holding	ATRO	Restricted Stock Unit						8,150	08 Mar 2024	$.01 PV Com Stk	8,150		Direct	F2, F6
holding	ATRO	Restricted Stock Unit						15,900	08 Mar 2024	$.01 PV Com Stk	15,900		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	These restricted stock units vest ratably on each anniversary of the grant date over three years. The amounts shown reflect the final 1/3 of the original award which vested on February 26, 2024.
F4	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 amount shown reflects 75% of the target number of restricted stock units which vested on December 31, 2023.
F5	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.
F6	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.
F7	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 22, 2027, with the vesting percentage determined based on actual performance.