ATRO Form 4: 1,280-Share ESPP Purchase; Options and RSUs Disclosed
Rhea-AI Filing Summary
James Mulato, President of Astronics Test Systems and a reporting person for Astronics Corporation (ATRO), acquired 1,280 common shares on 09/30/2025 by exercising an Employee Stock Purchase Plan subscription, increasing his beneficial ownership to 32,511.822 shares of common stock and 1,066 shares of Class B stock. The filing lists multiple outstanding stock options with exercise prices from $9.74 to $35.61 and expiration dates through 12/07/2033, and several performance-based restricted stock unit awards whose vesting depends on average annual adjusted EBITDA for specified multi-year periods. The Form 4 was signed on behalf of Mr. Mulato by a power of attorney on 10/02/2025.
Positive
- Acquired 1,280 common shares via Employee Stock Purchase Plan on 09/30/2025
- Reporting person retains significant holdings through multiple stock options and restricted stock units (RSUs), indicating continued alignment with shareholder interests
- RSU vesting is tied to average annual adjusted EBITDA, linking compensation to company performance
Negative
- Filing shows numerous outstanding options and RSUs with expirations through 12/07/2033, which could result in future share dilution if exercised or settled
Insights
Insider exercised ESPP and retains broad equity incentive exposure
The filing confirms an ESPP exercise acquiring 1,280 common shares on 09/30/2025, a routine insider purchase reflecting continued ownership rather than a sale.
The report also lists numerous outstanding options and performance-based RSUs with vesting tied to average annual adjusted EBITDA over multi-year periods, and option expiration dates extending to 12/07/2033. These awards indicate ongoing incentive alignment but also represent potential future dilution if exercised or settled.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | $.01 PV Com Stk | 1,280 | $16.60 | $21K |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Option | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | $.01 PV CL B STK | -- | -- | -- |
Footnotes (1)
- Acquired shares via exercise of subscription agreement under Employee Stock Purchase Plan. Each restricted stock unit represents the right to receive, at settlement, one share of common stock. Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2024- December 31, 2026. The "target" number of restricted stock units is reported. Between 50% and 150% of the target number of units may vest on February 22, 2027, with the vesting percentage determined based on actual performance. Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2023- December 31, 2025. The "target" number of restricted stock units is reported. Between 75% and 115% of the target number of units may vest on February 23, 2026, with the vesting percentage determined based on actual performance. Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2025- December 31, 2027. The "target" number of restricted stock units is reported. Between 50% and 150% of the target number of units may vest on February 27, 2028, with the vesting percentage determined based on actual performance.
