ASTRONICS CORP — Director's Dealing 2020

Dec 2, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASTRONICS CORP (ATRO)
CIK: 0000008063
Period of Report: 2020-12-02

Reporting Person: BURNEY DAVID C (VP-FINANCE, CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-02	$.01 PV COMMON STOCK	M	5000	$7.68	Acquired	47645	Direct
2020-12-02	$.01 PV COMMON STOCK	M	5000	$12.02	Disposed	42645	Direct
2020-12-02	$.01 PV CLASS B STOCK	M	8852	$7.68	Acquired	191669	Direct
2020-12-02	$.01 PV CLASS B STOCK	M	3850	$12.02	Disposed	187819	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-02	OPTION	$7.68	M	5000	Disposed	2020-12-02	$.01 PV COM STK (5000)	Direct
2020-12-02	OPTION	$7.68	M	8852	Disposed	2020-12-02	$.01 PV CL B STK (8852)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
OPTION	$13.59	2021-12-01	$.01 PV COM STK (3600)	3600	Direct
OPTION	$13.59	2021-12-01	$.01 PV CL B STK (5467)	5467	Direct
OPTION	$9.20	2022-11-29	$.01 PV COM STK (6400)	6400	Direct
OPTION	$9.20	2022-11-29	$.01 PV CL B STK (7616)	7616	Direct
OPTION	$28.45	2023-12-11	$.01 PV COM STK (2600)	2600	Direct
Option	$28.45	2023-12-11	$.01 PV CL B STK (2145)	2145	Direct
OPTION	$30.83	2024-12-11	$.01 PV COM STK (3150)	3150	Direct
Option	$30.83	2024-12-11	$.01 PV CL B STK (1641)	1641	Direct
Option	$27.72	2025-12-03	$.01 PV COM STK (4100)	4100	Direct
Option	$27.72	2025-12-03	$.01 PV CL B STK (1322)	1322	Direct
Option	$31.76	2026-12-14	$.01 PV COM STK (4370)	4370	Direct
Option	$31.76	2026-12-14	$.01 PV CL B STK (656)	656	Direct
Option	$35.61	2027-12-12	$.01 PV COM STK (6350)	6350	Direct
Option	$35.61	2027-12-12	$.01 PV CL B STK (953)	953	Direct
Restricted Stock Unit	$		$.01 PV COM STK (1095)	1095	Direct
Restricted Stock Unit	$		$.01 PV CL B STK (164)	164	Direct
Option	$31.57	2028-12-13	$.01 PV COM STK (8410)	8410	Direct
Restricted Stock Unit	$		$.01 PV COM STK (1106)	1106	Direct
Option	$30.04	2029-12-09	$.01 PV COM STK (13600)	13600	Direct
Restricted Stock Unit	$		$.01 PV COM STK (6625)	6625	Direct

Footnotes

F1: Each restricted stock unit represents the right to receive, at settlement, one share of common stock.

F2: Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period of January 1, 2018- December 31, 2020. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on December 31, 2020, with the vesting percentage determined based on actual performance.

F3: Each restricted stock unit represents the right to receive, at settlement, one share of Class B stock.

F4: Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period of January 1, 2019-
December 31, 2021. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on December 31, 2021, with the vesting percentage determined based on actual performance.

F5: Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January1, 2020- December
31, 2022. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on December
31, 2022, with the vesting percentage determined based on actual performance.