Form 4: Astronics Executive Exercises Stock Options

Mark Peabody, Executive VP & Pres-Aerospace at Astronics Corp., exercised stock options to acquire 5,951 shares of common and Class B stock.

Summary

• Mark Peabody, Executive VP & Pres-Aerospace of Astronics Corp. (ATRO), exercised stock options on November 19, 2025.
• Acquired 4,500 shares of $.01 PV Com Stk at an exercise price of $27.72 per share.
• Acquired 1,451 shares of $.01 PV CL B STK at an exercise price of $27.72 per share.
• Following these transactions, Mr. Peabody directly beneficially owns 55,324.73 shares of $.01 PV Com Stk and 185,445 shares of $.01 PV CL B STK.
• The exercised options, originally granted on December 3, 2016, and expiring on December 3, 2025, are now fully exercised and no longer held as derivative securities.
• Mr. Peabody continues to hold various other stock options with exercise prices ranging from $9.74 to $35.61 and expiration dates extending to December 2033.
• He also holds Restricted Stock Units (RSUs) with performance-based vesting tied to Astronics Corp.'s average annual adjusted EBITDA for future periods.

Sentiment

Score: 7

Explanation: The exercise of stock options by a key executive to acquire additional shares suggests management confidence in the company's future prospects and valuation. This increases insider ownership, which can be viewed favorably by investors.

Positives

• Increased direct ownership by a key executive, signaling confidence in the company's future prospects.
• The exercise of options indicates the stock price was above the exercise price of $27.72, suggesting value creation for the option holder.

Risks

• Vesting of 15,900 Restricted Stock Units (RSUs) is contingent on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2024, to December 31, 2026, with vesting ranging from 50% to 150% of the target number.
• Vesting of 10,850 Restricted Stock Units (RSUs) is contingent on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2023, to December 31, 2025, with vesting ranging from 75% to 115% of the target number.
• Vesting of 15,150 Restricted Stock Units (RSUs) is contingent on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2025, to December 31, 2027, with vesting ranging from 50% to 150% of the target number.

Future Outlook

The company's future performance, specifically its average annual adjusted EBITDA, will determine the vesting percentage of a significant portion of executive Restricted Stock Units, indicating a focus on profitability and operational efficiency for executive incentives through 2027.

Industry Context

This filing is a standard insider transaction report and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Increased alignment of executive interests with shareholder value through higher direct stock ownership. The performance-based RSU vesting ties executive compensation directly to the company's financial performance (EBITDA).

Next Steps

• Future vesting of Restricted Stock Units based on Astronics Corp.'s average annual adjusted EBITDA performance for the periods ending December 31, 2025, December 31, 2026, and December 31, 2027.

Key Dates

Keywords

Astronics Corp, ATRO, Mark Peabody, insider transaction, Form 4, stock options, common stock, Class B stock, executive compensation, beneficial ownership, restricted stock units, EBITDA