Form 4: Astronics Corp Executive Mark Peabody Reports Stock Transactions
SEC Form 4
VP of Astronics Advanced Electronic, Mark Peabody, reports acquisition and disposal of Astronics Corp stock and derivative securities due to option exercises and tax withholdings.
Summary
- Mark Peabody, VP of Astronics Advanced Electronic, filed a Form 4 detailing changes in beneficial ownership of Astronics Corp stock.
- On March 8, 2024, Peabody acquired 7,369 shares of common stock through option exercise and 294 shares of common stock through restricted stock unit vesting.
- Also on March 8, 2024, 2,532 shares were disposed of to cover withholding taxes related to restricted stock unit vesting, and 72 shares were disposed of to cover withholding taxes related to restricted stock unit vesting.
- Following these transactions, Peabody directly owns 44,437.936 shares of Astronics Corp common stock.
- Peabody also holds options to acquire thousands of shares of common stock and Class B stock at various exercise prices and expiration dates, as well as restricted stock units that will vest based on Astronics Corp's performance.
Sentiment
Score: 5
Explanation: This is a routine filing of stock transactions by an insider. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information about ownership changes.
Future Outlook
Vesting of future restricted stock units depends on Astronics Corp's average annual adjusted EBITDA for the periods ending December 31, 2024, December 31, 2025 and December 31, 2026.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's prospects.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership, but the overall impact is likely minimal.
- Employees holding similar stock options or restricted stock units may be interested in the vesting conditions tied to EBITDA performance.
Key Dates
| Date | Description |
|---|---|
| 12/11/2015 | Date of option grant with an exercise price of $30.83 and expiration on 12/11/2024 |
| 12/03/2016 | Date of option grant with an exercise price of $27.72 and expiration on 12/03/2025 |
| 12/14/2017 | Date of option grant with an exercise price of $31.76 and expiration on 12/14/2026 |
| 12/12/2018 | Date of option grant with an exercise price of $35.61 and expiration on 12/12/2027 |
| 12/13/2019 | Date of option grant with an exercise price of $31.57 and expiration on 12/13/2028 |
| 12/09/2020 | Date of option grant with an exercise price of $30.04 and expiration on 12/09/2029 |
| 01/01/2021 | Start date for EBITDA performance period related to restricted stock units vesting on December 31, 2023 |
| 01/22/2022 | Date of option grant with an exercise price of $14.45 and expiration on 01/22/2031 |
| 01/01/2022 | Start date for EBITDA performance period related to restricted stock units vesting on February 24, 2025 |
| 12/09/2022 | Date of option grant with an exercise price of $11.13 and expiration on 12/09/2031 |
| 01/01/2023 | Start date for EBITDA performance period related to restricted stock units vesting on February 23, 2026 |
| 12/16/2023 | Date of option grant with an exercise price of $9.74 and expiration on 12/16/2032 |
| 12/31/2023 | Date of vesting for restricted stock units based on EBITDA performance from January 1, 2021 to December 31, 2023 |
| 01/01/2024 | Start date for EBITDA performance period related to restricted stock units vesting on February 22, 2027 |
| 03/08/2024 | Date of reported transactions: acquisition and disposal of shares and vesting of restricted stock units |
| 03/12/2024 | Date of signature for the Form 4 filing |
| 12/07/2024 | Date of option grant with an exercise price of $15.15 and expiration on 12/07/2033 |
| 12/11/2024 | Expiration date of options granted on 12/11/2015 |
| 02/24/2025 | Potential vesting date for restricted stock units based on EBITDA performance from January 1, 2022 to December 31, 2024 |
| 12/03/2025 | Expiration date of options granted on 12/03/2016 |
| 02/23/2026 | Potential vesting date for restricted stock units based on EBITDA performance from January 1, 2023 to December 31, 2025 |
| 12/14/2026 | Expiration date of options granted on 12/14/2017 |
| 02/22/2027 | Potential vesting date for restricted stock units based on EBITDA performance from January 1, 2024 to December 31, 2026 |
| 12/12/2027 | Expiration date of options granted on 12/12/2018 |
| 12/13/2028 | Expiration date of options granted on 12/13/2019 |
| 12/09/2029 | Expiration date of options granted on 12/09/2020 |
| 01/22/2031 | Expiration date of options granted on 01/22/2022 |
| 12/09/2031 | Expiration date of options granted on 12/09/2022 |
| 12/16/2032 | Expiration date of options granted on 12/16/2023 |
| 12/07/2033 | Expiration date of options granted on 12/07/2024 |
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