ASTRONICS CORP — Director's Dealing 2008

Oct 20, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASTRONICS CORP (ATRO)
CIK: 0000008063
Period of Report: 2008-10-17

Reporting Person: GUNDERMANN PETER J (Director, PRESIDENT/CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-10-17	$.01 PV CLASS B STOCK	J	40090	$0.00	Acquired	90540	Direct
2008-10-17	$.01 PV CLASS B STOCK	J	2294	$0.00	Acquired	5358	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-10-17	OPTION	$4.917	J	0	Acquired	2010-01-18	$.01 PV COM STK (11183)	Direct
2008-10-17	OPTION	$4.917	J	3844	Acquired	2010-01-18	$.01 PV CL B STK (8037)	Direct
2008-10-17	OPTION	$9.813	J	0	Acquired	2011-04-26	$.01 PV COM STK (10313)	Direct
2008-10-17	OPTION	$9.813	J	3223	Acquired	2011-04-26	$.01 PV CL B STK (5801)	Direct
2008-10-17	OPTION	$8.178	J	0	Acquired	2012-01-25	$.01 PV COM STK (11555)	Direct
2008-10-17	OPTION	$8.178	J	2889	Acquired	2012-01-25	$.01 PV CL B STK (2889)	Direct
2008-10-17	OPTION	$4.263	J	0	Acquired	2013-01-24	$.01 PV COM STK (33547)	Direct
2008-10-17	OPTION	$4.263	J	8386	Acquired	2013-01-24	$.01 PV CL B STK (8386)	Direct
2008-10-17	OPTION	$4.392	J	0	Acquired	2014-02-19	$.01 PV COM STK (40800)	Direct
2008-10-17	OPTION	$4.392	J	10200	Acquired	2014-02-19	$.01 PV CL B STK (10200)	Direct
2008-10-17	OPTION	$4.072	J	0	Acquired	2014-12-14	$.01 PV COM STK (44000)	Direct
2008-10-17	OPTION	$4.072	J	11000	Acquired	2014-12-14	$.01 PV CL B STK (11000)	Direct
2008-10-17	OPTION	$5.20	J	0	Acquired	2015-02-18	$.01 PV COM STK (20000)	Direct
2008-10-17	OPTION	$5.20	J	5000	Acquired	2015-02-18	$.01 PV CL B STK (5000)	Direct
2008-10-17	OPTION	$7.864	J	0	Acquired	2015-12-13	$.01 PV COM STK (25000)	Direct
2008-10-17	OPTION	$7.864	J	6250	Acquired	2015-12-13	$.01 PV CL B STK (6250)	Direct
2008-10-17	OPTION	$13.888	J	0	Acquired	2016-12-12	$.01 PV COM STK (14460)	Direct
2008-10-17	OPTION	$13.888	J	3615	Acquired	2016-12-12	$.01 PV CL B STK (3615)	Direct
2008-10-17	OPTION	$31.848	J	0	Acquired	2017-12-19	$.01 PV COM STK (6680)	Direct
2008-10-17	OPTION	$31.848	J	1670	Acquired	2017-12-19	$.01 PV CL B STK (1670)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
$.01 PV COMMON STOCK	109911	Direct
$.01 PV COMMON STOCK	6114	Indirect

Footnotes

F1: Adjusted pursuant to Class B stock distribution declared by the Board of Directors payable on 10/17/2008 of one share of Class B stock for every four shares of Common Stock and Class B Stock.

F2: Shares issued pursuant to a one-for-four distribution of Class B Stock to holders of both Common and Class B Stock on the record date of October 6, 2008.

F3: MR. GUNDERMANN DISCLAIMS ANY BENEFICIAL INTEREST IN THE SHARES OWNED BY HIS WIFE.

F4: Granted pursuant to the Company's 2001 Key Employee Stock Option Plan.