Astronics (ATRO) officer details Class B stock holdings and performance RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Astronics Corp principal accounting officer Nancy L. Hedges reported restructuring-type equity movements and updated her holdings. She now directly holds 32,048.975 shares of common stock and 7,953 shares of Class B stock, reflecting a one-for-five distribution of 6,666 Class B shares to holders as of June 15, 2026.
Hedges also holds multiple restricted stock unit (RSU) awards. RSUs tied to common stock cover 12,150, 17,700 and 5,024 underlying shares. Additional RSUs tied to Class B stock cover 2,430, 3,540 and 1,004 underlying shares. These RSUs vest based on Astronics’ average annual adjusted EBITDA for performance periods running from 2024–2026, 2025–2027 and 2026–2028, with 50% to 150% of target units potentially vesting on settlement dates in 2027, 2028 and 2029.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Hedges Nancy L
Role
Principal Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Restricted Stock Unit | 1,004 | $0.00 | -- |
| Other | Restricted Stock Unit | 3,540 | $0.00 | -- |
| Other | Restricted Stock Unit | 2,430 | $0.00 | -- |
| Other | $.01 PV CL B STK | 6,666 | $0.00 | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | $.01 PV Com Stk | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 1,004 shares (Direct, null);
$.01 PV CL B STK — 7,953 shares (Direct, null);
$.01 PV Com Stk — 32,048.975 shares (Direct, null)
Footnotes (1)
- Shares issued pursuant to a one-for-five distribution of Class B stock to holders of both Common and Class B stock on the record date of June 15, 2026. 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. Each restricted stock unit represents the right to receive, at settlement, one share of class B stock. 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. Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2026- December 31, 2028. The "target" number of restricted stock units is reported. Between 50% and 150% of the target number of units may vest on February 19, 2029, with the vesting percentage determined based on actual performance.
Key Figures
Common stock held: 32,048.975 shares
Class B stock held: 7,953 shares
Class B distribution: 6,666 shares
+4 more
7 metrics
Common stock held
32,048.975 shares
Direct common stock holdings after transactions
Class B stock held
7,953 shares
Direct Class B holdings after one-for-five distribution
Class B distribution
6,666 shares
One-for-five Class B stock distribution on June 15, 2026 record date
Common RSU targets
12,150; 17,700; 5,024 shares
RSUs on common stock, each unit for one share at settlement
Class B RSU targets
2,430; 3,540; 1,004 shares
RSUs on Class B stock, each unit for one share at settlement
Performance vesting range
50%–150%
Portion of RSU target that may vest based on adjusted EBITDA
Restructuring shares
13,640 shares
Shares in J-code restructuring transactions
Key Terms
Restricted Stock Unit, Class B stock, average annual adjusted EBITDA, one-for-five distribution, +1 more
5 terms
Restricted Stock Unit financial
"Each restricted stock unit represents the right to receive, at settlement, one share of common stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Class B stock financial
"Shares issued pursuant to a one-for-five distribution of Class B stock to holders of both Common and Class B stock on the record date of June 15, 2026."
Class B stock is a type of company share that usually carries different voting or economic rights than the more common Class A shares — for example, fewer votes per share or different dividend rules. Investors care because those differences affect control and potential returns: it’s like owning a cheaper seat at an event that gives less say over what happens, so Class B shares can trade at different prices and influence how much sway a shareholder has over company decisions.
average annual adjusted EBITDA financial
"Vesting of these restricted stock units depends on Astronics Corp.'s average annual adjusted EBITDA for the period January 1, 2024- December 31, 2026."
one-for-five distribution financial
"Shares issued pursuant to a one-for-five distribution of Class B stock to holders of both Common and Class B stock on the record date of June 15, 2026."
performance-based vesting financial
"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."
FAQ
What did Astronics (ATRO) officer Nancy Hedges report in this Form 4?
Nancy L. Hedges, Astronics’ principal accounting officer, reported updated holdings of common and Class B shares plus several restricted stock unit awards. The filing reflects a Class B stock distribution and performance-based RSUs rather than open-market share purchases or sales.
What restricted stock unit positions on Astronics common stock are reported for ATRO’s officer?
The filing shows RSU awards tied to Astronics common stock with underlying share targets of 12,150, 17,700 and 5,024. Each restricted stock unit represents the right to receive one common share upon settlement, subject to applicable vesting and performance conditions.
How are Astronics (ATRO) performance-based RSUs structured for Nancy Hedges?
The RSUs vest based on Astronics’ average annual adjusted EBITDA over multi-year periods. For cycles covering 2024–2026, 2025–2027 and 2026–2028, between 50% and 150% of target units may vest on dates in 2027, 2028 and 2029, depending on actual performance.
What is the one-for-five Class B distribution mentioned in the Astronics Form 4?
The footnotes state that 6,666 Class B shares were issued pursuant to a one-for-five distribution of Class B stock. This distribution applied to holders of both common and Class B stock on the June 15, 2026 record date, increasing their Class B holdings.
Do Astronics RSUs for Nancy Hedges convert into common or Class B stock?
The Form 4 notes that some RSUs represent the right to receive one share of common stock at settlement, while other RSUs represent the right to receive one share of Class B stock. The underlying stock type is specified for each RSU award in the disclosure.