Business Context and Reporting Period
This Form 8-K Current Report was filed by Astronics Corporation on May 30, 2014. The filing addresses Item 8.01 (Other Events) regarding the adoption of a Rule 10b5-1 trading plan by an executive officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to disclosure of an executive trading plan and contains no financial performance data.
Material Changes
There are no material changes to financial operations or results reported in this filing. The only material event is the establishment of a systematic stock sale plan by the Chief Financial Officer.
Guidance, Outlook, and Management Commentary
David C. Burney, Executive Vice President and Chief Financial Officer, adopted a written plan on May 30, 2014, to monetize a portion of his equity position. The plan is designed to be systematic, non-discretionary, and have minimal market impact. The plan is effective from June 6, 2014, through January 31, 2015, unless terminated sooner. Sales will occur at prevailing market prices subject to a price floor.
Trading Plan Schedule:
| Effective Date of Order | Number of Common Shares | Expiration Date of Order |
|---|---|---|
| 07/08/2014 | 4,000 | 12/31/2014 |
| 08/05/2014 | 4,000 | 12/31/2014 |
| 09/09/2014 | 4,000 | 12/31/2014 |
| 10/07/2014 | 4,000 | 12/31/2014 |
| 11/11/2014 | 4,000 | 12/31/2014 |
| 12/09/2014 | 4,000 | 12/31/2014 |
Total shares scheduled for sale under this plan: 24,000.
Investor Verification Checklist
- Verify the total number of shares (24,000) scheduled for sale by the CFO.
- Confirm the execution window (June 6, 2014, to January 31, 2015).
- Note that the plan includes a price floor, though the specific price is not disclosed in this text.
- Check subsequent filings for actual execution of these trades or early termination of the plan.