Form 4: Astronics Corp Executive James Mulato Reports Stock Transactions
SEC Form 4
James Mulato, President of Astronics Test Systems, reports acquisition and disposal of Astronics Corp stock and derivative securities.
Summary
- On March 18, 2025, James Mulato acquired 9,413 shares of Astronics Corp common stock at $24.91 per share.
- Mulato also disposed of 2,293 shares to satisfy withholding tax requirements.
- Following these transactions, Mulato directly owns 47,872.822 shares of common stock.
- Mulato indirectly owns 100 shares of common stock and 32 shares of Class B stock through his spouse.
- Mulato also holds options for thousands of shares of common stock and Class B stock at various exercise prices and expiration dates.
- He also holds restricted stock units (RSUs) that will vest based on Astronics Corp's adjusted EBITDA performance over different periods.
Sentiment
Score: 5
Explanation: This is a neutral document detailing stock transactions. It doesn't inherently indicate positive or negative sentiment.
Risks
- The vesting of restricted stock units is dependent on Astronics Corp.'s future financial performance, specifically its average annual adjusted EBITDA.
- Failure to meet the EBITDA targets could result in a lower percentage of RSUs vesting.
Future Outlook
The vesting of restricted stock units in the future is dependent on the company's adjusted EBITDA performance over the next few years.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency into the trading activities of company executives.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The vesting schedules and performance metrics tied to RSUs are typical in the industry, with EBITDA being a common metric for assessing company performance.
- Companies like Teledyne Technologies Incorporated and HEICO Corporation also use similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders, as they reflect insider trading activity.
- The vesting of RSUs based on EBITDA performance aligns management's interests with those of shareholders, potentially driving improved company performance.
Key Dates
| Date | Description |
|---|---|
| 12/03/2016 | Date of grant for options expiring on 12/03/2025 with an exercise price of $27.72 |
| 12/14/2017 | Date of grant for options expiring on 12/14/2026 with an exercise price of $31.76 |
| 12/12/2018 | Date of grant for options expiring on 12/12/2027 with an exercise price of $35.61 |
| 12/13/2019 | Date of grant for options expiring on 12/13/2028 with an exercise price of $31.57 |
| 12/09/2020 | Date of grant for options expiring on 12/09/2029 with an exercise price of $30.04 |
| 01/22/2022 | Date of grant for options expiring on 01/22/2031 with an exercise price of $14.45 |
| 12/09/2022 | Date of grant for options expiring on 12/09/2031 with an exercise price of $11.13 |
| 01/01/2023 | Start date for the period used to determine vesting of 11,500 restricted stock units. |
| 12/16/2023 | Date of grant for options expiring on 12/16/2032 with an exercise price of $9.74 |
| 01/01/2024 | Start date for the period used to determine vesting of 18,550 restricted stock units. |
| 12/07/2024 | Date of grant for options expiring on 12/07/2033 with an exercise price of $15.15 |
| 01/01/2025 | Start date for the period used to determine vesting of 17,700 restricted stock units. |
| 02/24/2025 | Date that 75% of the target number of restricted stock units vested based on performance from January 1, 2022 December 31, 2024. |
| 03/18/2025 | Date of stock acquisition and disposal, and vesting of restricted stock units. |
| 02/23/2026 | Potential vesting date for restricted stock units granted based on performance from January 1, 2023 December 31, 2025. |
| 02/22/2027 | Potential vesting date for restricted stock units granted based on performance from January 1, 2024 December 31, 2026. |
| 02/27/2028 | Potential vesting date for restricted stock units granted based on performance from January 1, 2025 December 31, 2027. |
| 12/03/2025 | Expiration date for options granted on 12/03/2016 with an exercise price of $27.72 |
| 12/14/2026 | Expiration date for options granted on 12/14/2017 with an exercise price of $31.76 |
| 12/12/2027 | Expiration date for options granted on 12/12/2018 with an exercise price of $35.61 |
| 12/13/2028 | Expiration date for options granted on 12/13/2019 with an exercise price of $31.57 |
| 12/09/2029 | Expiration date for options granted on 12/09/2020 with an exercise price of $30.04 |
| 01/22/2031 | Expiration date for options granted on 01/22/2022 with an exercise price of $14.45 |
| 12/09/2031 | Expiration date for options granted on 12/09/2022 with an exercise price of $11.13 |
| 12/16/2032 | Expiration date for options granted on 12/16/2023 with an exercise price of $9.74 |
| 12/07/2033 | Expiration date for options granted on 12/07/2024 with an exercise price of $15.15 |
Keywords
Astronics Corp, James Mulato, stock, options, restricted stock units, EBITDA, Form 4, insider trading
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