4/A: Astronics Corp Executive Nancy L. Hedges Amends Form 4 Filing to Correct Transaction Details

Nancy L. Hedges, Principal Accounting Officer of Astronics Corp, amended a previous Form 4 filing to correct the reporting of a transaction involving common stock and to rectify the total amount of securities owned following the transaction.

Summary

• Nancy L. Hedges, Principal Accounting Officer of Astronics Corp, filed an amended Form 4 with the SEC.
• The amendment corrects an administrative error in the original filing from March 20, 2025.
• The error misreported a transaction of $.01 PV Com Stk as an acquisition instead of a disposition.
• The amendment also corrects the total amount of securities owned following the reported transaction.
• On March 18, 2025, 5,500 shares of $.01 PV Com Stk were acquired at a price of $24.91.
• Also on March 18, 2025, 2,770 shares were disposed of to satisfy withholding tax upon vesting of restricted stock units.
• Following these transactions, Hedges directly owns 26,668.975 shares of $.01 PV Com Stk and 607 shares of $.01 PV CL B STK.
• Hedges also holds options and restricted stock units relating to Astronics Corp stock, with vesting dependent on factors like Astronics Corp's average annual adjusted EBITDA.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing correcting a previous error. It doesn't contain information that would significantly impact investor sentiment, but the correction itself is a positive sign of transparency.

Future Outlook

The vesting of certain restricted stock units is contingent upon Astronics Corp's future financial performance, specifically its average annual adjusted EBITDA over defined periods.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to the market.

Comparison to Industry Standards

• Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
• Vesting schedules tied to EBITDA performance are a common mechanism to incentivize executives to achieve specific financial targets.
• The specific EBITDA targets and vesting percentages would need to be compared to those of peer companies to assess the competitiveness of Astronics Corp's compensation practices.

Stakeholder Impact

• Shareholders benefit from the increased transparency provided by the corrected filing.
• The vesting of restricted stock units based on EBITDA performance aligns management's interests with shareholder value creation.

Key Dates

Keywords

Form 4, Astronics Corp, Nancy L. Hedges, Beneficial Ownership, SEC Filing, ATRO, Amendment, Disposition, Restricted Stock Units, Options