ASTRONICS CORPORATION (NASDAQ:ATRO) Files An 8-K Other EventsItem 8.01 Other Events
Mark Peabody, Executive Vice President of Astronics Corporation (the “Company”) and President of the Company's subsidiary, Astronics Advanced Electronic Systems Corp., has determined to monetize a portion of his equity position in the Company’s common stock in a systematic, non-discretionary manner with minimal market impact and in accordance with applicable law and regulations.
Accordingly, to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, Mr.Peabody adopted a written plan on November 14, 2017 relating to future sales of the Company’s common stock. Mr.Peabody's plan will begin on January 19, 2018 and will continue until December 28, 2018, unless sooner terminated. Under Mr.Peabody's plan, he will place an order to sell up up 1,000 shares of the Company’s common stock on the open market and at prevailing market prices, subject to a price floor, beginning January 19, 2018 and on Friday of every other following week through December 28, 2018. In the event that the prevailing market price on a designated order date exceeds a certain price, the number of shares sold will be increased to 2,000 for such date. The maximum number of shares to be sold to the plan is 16,522 shares of the Company's common stock.
About ASTRONICS CORPORATION (NASDAQ:ATRO)
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems. The Company operates through two segments: Aerospace and Test Systems. The Company’s Aerospace segment designs and manufactures products for the global aerospace industry. Its product lines include lighting and safety systems, electrical power generation, distribution and motions systems, aircraft structures, avionics products, systems certification and other products. The Company’s Test Systems segment designs, develops, manufactures and maintains automated test systems that support the semiconductor, aerospace, communications and weapons test systems, as well as training and simulation devices for both commercial and military applications.