PETER J. GUNDERMANN - 08 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: 08 Mar 2024
Net transactions value: -$43,980
Form type: 4
Filing time: 12 Mar 2024, 17:07:24 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	+9,206	+14%	$0.000000	76,377	08 Mar 2024	Direct
transaction	ATRO	$.01 PV Com Stk	Tax liability	$42,374	-2,242	-2.9%	$18.90	74,135	08 Mar 2024	Direct	F1
transaction	ATRO	$.01 PV Com Stk	Options Exercise	$0	+350	+0.47%	$0.000000	74,485	08 Mar 2024	Direct
transaction	ATRO	$.01 PV Com Stk	Tax liability	$1,606	-85	-0.11%	$18.90	74,400	08 Mar 2024	Direct	F1
holding	ATRO	$.01 PV CL B STK						743,493	08 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
transaction	ATRO	Restricted Stock Unit	Options Exercise	$0	-350	-100%	$0.000000^*	0	08 Mar 2024	$.01 PV Com Stk	350		Direct	F2, F3
transaction	ATRO	Restricted Stock Unit	Options Exercise	$0	-9,206	-100%	$0.000000^*	0	08 Mar 2024	$.01 PV Com Stk	9,206		Direct	F2, F4
holding	ATRO	Option						10,100	08 Mar 2024	$.01 PV Com Stk	10,100	$30.83	Direct
holding	ATRO	Option						5,261	08 Mar 2024	$.01 PV CL B STK	5,261	$30.83	Direct
holding	ATRO	Option						13,700	08 Mar 2024	$.01 PV Com Stk	13,700	$27.72	Direct
holding	ATRO	Option						4,418	08 Mar 2024	$.01 PV CL B STK	4,418	$27.72	Direct
holding	ATRO	Option						14,460	08 Mar 2024	$.01 PV Com Stk	14,460	$31.76	Direct
holding	ATRO	Option						2,169	08 Mar 2024	$.01 PV CL B STK	2,169	$31.76	Direct
holding	ATRO	Option						26,300	08 Mar 2024	$.01 PV Com Stk	26,300	$35.61	Direct
holding	ATRO	Option						3,945	08 Mar 2024	$.01 PV CL B STK	3,945	$35.61	Direct
holding	ATRO	Option						34,790	08 Mar 2024	$.01 PV Com Stk	34,790	$31.57	Direct
holding	ATRO	Option						61,200	08 Mar 2024	$.01 PV Com Stk	61,200	$30.04	Direct
holding	ATRO	Option						98,900	08 Mar 2024	$.01 PV Com Stk	98,900	$14.45	Direct
holding	ATRO	Option						115,800	08 Mar 2024	$.01 PV Com Stk	115,800	$11.13	Direct
holding	ATRO	Option						125,000	08 Mar 2024	$.01 PV Com Stk	125,000	$9.74	Direct
holding	ATRO	Option						83,900	08 Mar 2024	$.01 PV Com Stk	83,900	$15.15	Direct
holding	ATRO	Restricted Stock Unit						14,750	08 Mar 2024	$.01 PV Com Stk	14,750		Direct	F2, F5
holding	ATRO	Restricted Stock Unit						13,550	08 Mar 2024	$.01 PV Com Stk	13,550		Direct	F2, F6
holding	ATRO	Restricted Stock Unit						26,450	08 Mar 2024	$.01 PV Com Stk	26,450		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 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.
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 23, 2027, with the vesting percentage determined based on actual performance.