ASTRONICS CORPORATION (NASDAQ:ATRO) Files An 8-K Other EventsItem 8.01 Other Events
Peter J. Gundermann, President, Chief Executive Officer and Director of Astronics Corporation (the “Company”), 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.Gundermann adopted a written plan on December 15, 2017 relating to future sales of the Company’s common stock. Under Mr.Gundermann's plan he will place orders to sell up to an aggregate maximum of 71,322 shares of the Company's common stock by way of weekly sales orders beginning February 2, 2018 and ending October 12, 2018. Sales under the plan will be on the open market and at prevailing market prices. The number of shares to be sold each week will vary based on the market price, provided that no sales will occur if the market price is less than $35.00 per share.
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.