ATRO Form 4: Mulato Reports Sales, Divorce Transfer of Shares
Rhea-AI Filing Summary
James Mulato, an officer of Astronics Corp. (ATRO), reported reductions in his ownership through sales and transfers in two transactions dated 09/05/2025 and 09/09/2025. On 09/05/2025 he sold 1,000 common shares at $38.21 and 129 Class B shares at $37.73. On 09/09/2025 he transferred 11,055 common shares (reported as price $0) to his former spouse in a divorce settlement and disposed of shares held in a 401(k) pursuant to a qualified domestic relations order. Following these transactions he beneficially owned 42,286.822 common shares and 1,066 Class B shares (direct ownership). The Form 4 was executed by Julie Davis as Power of Attorney on behalf of Mr. Mulato.
Positive
- Form 4 filed and signed by Power of Attorney, indicating compliance with Section 16 disclosure rules
- Dispositions are documented as QDRO and divorce-related transfers, providing clear reasons for the ownership changes
Negative
- Reduction of beneficial ownership by 12,184 shares (1,000 common sold, 129 Class B sold, 11,055 common transferred), representing insider liquidity
- Transfer of 11,055 shares to former spouse removes those shares from the reporting person’s beneficial ownership
Insights
TL;DR: Officer disposed of ~12,184 shares through sale and transfer; remaining holdings remain substantial.
The reported actions are primarily personal in nature: a sale of 1,129 shares (1,000 common and 129 Class B) for cash and a transfer of 11,055 common shares to a former spouse as part of a divorce settlement. The filing also notes disposition of shares from a 401(k) under a qualified domestic relations order. These transactions reduce Mr. Mulato's direct stake but leave material option and RSU positions unchanged as reported in Table II. From an investor perspective, this filing documents insider liquidity events and ownership reallocation rather than corporate operational developments.
TL;DR: Disclosure is complete and cites legal mechanisms (QDRO, divorce transfer); governance and reporting procedures were followed.
The Form 4 clearly attributes dispositions to a qualified domestic relations order and a divorce settlement, and it uses appropriate transaction codes (S and G). The report shows the officer retains extensive equity-based compensation (options and RSUs) with performance-vesting conditions described for certain RSUs. The signature by a Power of Attorney is disclosed, which is acceptable when properly authorized. These facts indicate compliance with Section 16 reporting requirements without evidence of undisclosed related-party issues beyond the divorce transfer described.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | $.01 PV Com Stk | 11,055 | $0.00 | -- |
| Sale | $.01 PV Com Stk | 1,000 | $38.21 | $38K |
| Sale | $.01 PV CL B STK | 129 | $37.73 | $5K |
| 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 | -- | -- | -- |
Footnotes (1)
- Represents shares held in a 401(k) account of Mr. Mulato and disposed of pursuant to a qualified domestic relations order. Shares transferred to former spouse of Mr. Mulato in connection with a divorce settlement. The reporting person no longer has a reportable beneficial interest in 100 shares of common stock and 32 shares of Class B stock owned by the former spouse of the reporting person and previously included in the prior ownership reports of the reporting person. 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.
