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: GUNDERMANN PETER J (Director, PRESIDENT/CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-10	$.01 PV COMMON STOCK	M	7631	$0.00	Acquired	53269.641	Direct
2023-03-10	$.01 PV COMMON STOCK	F	1996	$14.47	Disposed	51273.641	Direct
2023-03-10	$.01 PV COMMON STOCK	M	351	$0.00	Acquired	51624.641	Direct
2023-03-10	$.01 PV COMMON STOCK	F	85	$14.47	Disposed	51539.641	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-10	Restricted Stock Unit	$	M	7631	Disposed		$.01 PV COM ST7631K (10175)	Direct
2023-03-10	Restricted Stock Unit	$	M	351	Disposed		$.01 PV COM STK (701)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
$.01 PV CLASS B STOCK	743493	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
OPTION	$28.45	2023-12-11	$.01 PV COM STK (8300)	8300	Direct
OPTION	$28.45	2023-12-11	$.01 PV CL B STK (6848)	6848	Direct
OPTION	$30.83	2024-12-11	$.01 PV COM STK (10100)	10100	Direct
OPTION	$30.83	2024-12-11	$.01 PV CL B STK (5261)	5261	Direct
OPTION	$27.72	2025-12-03	$.01 PV COM STK (13700)	13700	Direct
Option	$27.72	2025-12-03	$.01 PV CL B STK (4418)	4418	Direct
Option	$31.76	2026-12-14	$.01 PV COM STK (14460)	14460	Direct
Option	$31.76	2026-12-14	$.01 PV CL B STK (2169)	2169	Direct
Option	$35.61	2027-12-12	$.01 PV COM STK (26300)	26300	Direct
Option	$35.61	2027-12-12	$.01 PV CL B STK (3945)	3945	Direct
Option	$31.57	2028-12-13	$.01 PV COM STK (34790)	34790	Direct
Option	$30.04	2029-12-09	$.01 PV COM STK (61200)	61200	Direct
Option	$14.45	2031-01-22	$.01 PV COM STK (98900)	98900	Direct
Restricted Stock Unit	$		$.01 PV COM STK (12275)	12275	Direct
Option	$11.13	2031-12-09	$.01 PV COM STK (115800)	115800	Direct
Restricted Stock Unit	$		$.01 PV COM STK (14750)	14750	Direct
Option	$9.74	2032-12-16	$.01 PV COM STK (125000)	125000	Direct
Restricted Stock Unit	$		$.01 PV COM STK (13550)	13550	Direct

Footnotes

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: 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.

F4: These restricted stock units vest ratably on each anniversary of the grant date over three years.

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: 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.

F7: 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.