ASTRONICS CORP — Director's Dealing 2023

Mar 14, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASTRONICS CORP (ATRO)
CIK: 0000008063
Period of Report: 2023-03-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-10	$.01 PV COMMON STOCK	M	4969	$0.00	Acquired	49979.349	Direct
2023-03-10	$.01 PV COMMON STOCK	F	2055	$14.47	Disposed	47924.349	Direct
2023-03-10	$.01 PV COMMON STOCK	M	219	$0.00	Acquired	48143.349	Direct
2023-03-10	$.01 PV COMMON STOCK	F	91	$14.47	Disposed	48052.349	Direct
2023-03-13	$.01 PV COMMON STOCK	J	54.814	$12.81	Acquired	48107.163	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-10	Restricted Stock Unit	$	M	4969	Disposed		$.01 PV COM STK (6625)	Direct
2023-03-10	Restricted Stock Unit	$	M	219	Disposed		$.01 PV COM STK (436)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
$.01 PV CLASS B STOCK	191833	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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
Option	$31.57	2028-12-13	$.01 PV COM STK (8410)	8410	Direct
Option	$30.04	2029-12-09	$.01 PV COM STK (13600)	13600	Direct
Option	$14.45	2031-01-22	$.01 PV COM STK (20250)	20250	Direct
Restricted Stock Unit	$		$.01 PV COM STK (8000)	8000	Direct
Option	$11.13	2031-12-09	$.01 PV COM STK (24500)	24500	Direct
Restricted Stock Unit	$		$.01 PV COM STK (9600)	9600	Direct
Option	$9.74	2032-12-16	$.01 PV COM STK (26700)	26700	Direct
Restricted Stock Unit	$		$.01 PV COM STK (8800)	8800	Direct

Footnotes

F1: Shares withheld by Astronics Corp. to satisfy applicable withholding tax upon vesting of restricted stock units.

F2: Reflects issuer's contribution to the reporting person's account in the issuer stock fund included in the issuer's 401(k) plan. The shares are held in the 401(k) account.

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

F4: Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2020- December
31, 2022. The "target" number of restricted stock units is reported in Table II. Based on actual performance, 75% of the target number of units vested on December
31, 2022.

F5: 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.

F6: These restricted stock units vest ratably on each anniversary of the grant date over three years.

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.