Business Context and Reporting Period
This Form 8-K Current Report was filed by Astronics Corporation on March 21, 2008. The report discloses a corporate governance event regarding the compensation of directors under the Company's 2005 Director Option Plan.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the grant of stock options to directors and does not contain financial performance data.
Material Changes
On March 20, 2008, the Director Stock Option Committee granted stock option awards to five directors. The specific terms are as follows:
- Recipients: Raymond W. Boushie, Robert T. Brady, John B. Drenning, Robert J. McKenna, and Kevin T. Keane.
- Award Size: 2,500 shares per director (12,500 shares total).
- Exercise Price: $19.11 per share.
- Vesting Date: September 20, 2008.
- Expiration Date: March 20, 2018.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items beyond the standard disclosure of the option grant.
Investor Verification Checklist
- Verify the total number of shares outstanding and the dilution impact of the 12,500 new options.
- Confirm the fair value of the options granted using the exercise price of $19.11 against the market price on March 20, 2008.
- Review the 2005 Director Option Plan to ensure the grants comply with plan limits and vesting schedules.
- Check subsequent filings for the actual vesting of these options on September 20, 2008.