Peter J Gundermann Form 4 ASTRONICS / PETER J GUNDERMANN ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GUNDERMANN PETER J

(Last) (First) (Middle)

130 COMMERCE WAY

(Street)

EAST AURORA NY 14052

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ASTRONICS CORP [ ATRO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
PRESIDENT/CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/03/2019

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
$.01 PV COMMON STOCK	12/03/2019		M		37,480	A	$2.84	44,901	D
$.01 PV COMMON STOCK	12/03/2019		F		37,480	D	$28.58	7,421	D
$.01 PV CLASS B STOCK	12/03/2019		M		66,355	A	$2.84	685,671	D
$.01 PV CLASS B STOCK	12/03/2019		F		6,976	D	$28.58	678,695	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
OPTION	$2.84	12/03/2019		M			37,480	12/03/2010	12/03/2019	$.01 PV COM STK	37,480	$2.84	0	D
OPTION	$2.84	12/03/2019		M			66,355	12/03/2010	12/03/2019	$.01 PV CL B STK	66,355	$2.84	0	D
OPTION	$7.68							12/02/2011	12/02/2020	$.01 PV COM STK	14,700		14,700	D
OPTION	$7.68							12/02/2011	12/02/2020	$.01 PV CL B STK	26,025		26,025	D
OPTION	$13.59							12/01/2012	12/01/2021	$.01 PV COM STK	10,700		10,700	D
OPTION	$13.59							12/01/2012	12/01/2021	$.01 PV CL B STK	16,249		16,249	D
OPTION	$9.2							11/29/2013	11/29/2022	$.01 PV COM STK	18,700		18,700	D
OPTION	$9.2							11/29/2013	11/29/2022	$.01 PV CL B STK	22,254		22,254	D
OPTION	$28.45							12/11/2014	12/11/2023	$.01 PV COM STK	8,300		8,300	D
OPTION	$28.45							12/11/2014	12/11/2023	$.01 PV CL B STK	6,848		6,848	D
OPTION	$30.83							12/11/2015	12/11/2024	$.01 PV COM STK	10,100		10,100	D
OPTION	$30.83							12/11/2015	12/11/2024	$.01 PV CL B STK	5,261		5,261	D
OPTION	$27.72							12/03/2016	12/03/2025	$.01 PV COM STK	13,700		13,700	D
Option	$27.72							12/03/2016	12/03/2025	$.01 PV CL B STK	4,418		4,418	D
Option	$31.76							12/14/2017	12/14/2026	$.01 PV COM STK	14,460		14,460	D
Option	$31.76							12/14/2017	12/14/2026	$.01 PV CL B STK	2,169		2,169	D
Option	$35.61							12/12/2018	12/12/2027	$.01 PV COM STK	26,300		26,300	D
Option	$35.61							12/12/2018	12/12/2027	$.01 PV CL B STK	3,945		3,945	D
Restricted Stock Unit	(1)							(2)	(2)	$.01 PV COM STK	1,805		1,805	D
Restricted Stock Unit	(3)							(2)	(2)	$.01 PV CL B STK	270		270	D
Option	$31.57							12/13/2019	12/13/2028	$.01 PV COM STK	34,790		34,790	D
Restricted Stock Unit	(1)							(4)	(4)	$.01 PV COM STK	1,832		1,832	D

Explanation of Responses:

1. Each restricted stock unit represents the right to receive, at settlement, one share of common stock.

2. Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period of January 1, 2018- December 31, 2020. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on December 31, 2020, with the vesting percentage determined based on actual performance.

3. Each restricted stock unit represents the right to receive, at settlement, one share of Class B stock.

4. Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2019-December 31, 2021. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on December 31, 2021, with the vesting percentage determined based on actual performance.

Remarks:

	/S/JULIE DAVIS, AS POWER OF ATTORNEY FOR PETER J. GUNDERMANN	12/05/2019
	** Signature of Reporting Person	Date
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