Form 4: Astronics Corp Executive Nancy L. Hedges Reports Acquisition of Common Stock
SEC Form 4
Nancy L. Hedges, Principal Accounting Officer of Astronics Corp, reports acquiring common stock through the Employee Stock Purchase Plan and holding derivative securities.
Summary
- On September 30, 2024, Nancy L. Hedges, Principal Accounting Officer of Astronics Corp, acquired 1,574 shares of common stock at $13.50 per share through the Employee Stock Purchase Plan.
- Following the transaction, Hedges directly owns 23,938.975 shares of common stock and 607 shares of Class B stock.
- Hedges also holds options to purchase 1,120 shares of common stock and 583 shares of Class B stock, both exercisable at $30.83, expiring on December 11, 2024.
- Additionally, Hedges holds options to purchase 1,400 shares of common stock and 452 shares of Class B stock, both exercisable at $27.72, expiring on December 3, 2025.
- Hedges also holds options to purchase 1,520 shares of common stock and 228 shares of Class B stock, both exercisable at $31.76, expiring on December 14, 2026.
- Hedges holds 5,024 restricted stock units that vest based on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2024 December 31, 2026, with vesting occurring on February 22, 2027.
- 5,050 restricted stock units are scheduled to vest on February 23, 2026, and 5,500 restricted stock units are scheduled to vest on February 24, 2025.
Sentiment
Score: 6
Explanation: Neutral sentiment as it's a routine filing of insider transactions. The acquisition of shares through the employee stock purchase plan is a mildly positive signal.
Positives
- The acquisition of shares through the Employee Stock Purchase Plan indicates Hedges' investment in the company's future.
Future Outlook
The vesting of restricted stock units is tied to the company's future performance, specifically its average annual adjusted EBITDA between January 1, 2024, and December 31, 2026.
Industry Context
Insider transactions are closely watched by investors as they can provide insights into management's confidence in the company's prospects.
Stakeholder Impact
- The reported transactions provide transparency to shareholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| 12/11/2015 | Date of grant for options expiring on 12/11/2024 |
| 12/03/2016 | Date of grant for options expiring on 12/03/2025 |
| 12/14/2017 | Date of grant for options expiring on 12/14/2026 |
| 01/01/2024 | Start date for EBITDA performance period for restricted stock units |
| 09/30/2024 | Date of transaction: Acquisition of common stock |
| 12/11/2024 | Expiration date for some stock options |
| 12/03/2025 | Expiration date for some stock options |
| 02/23/2026 | Scheduled vesting date for 5,050 restricted stock units |
| 12/14/2026 | Expiration date for some stock options |
| 12/31/2026 | End date for EBITDA performance period for restricted stock units |
| 02/22/2027 | Vesting date for restricted stock units based on EBITDA performance |
| 10/02/2024 | Date of filing |
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