Business Context and Reporting Period
This Form 8-K Current Report was filed by Astronics Corporation on December 12, 2006. The filing discloses a corporate governance event regarding the granting of stock option awards to named executive officers under the Company's 2001 Stock 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 executive compensation arrangements rather than financial performance.
Material Changes
On December 12, 2006, the Compensation Committee granted stock options to two executive officers:
- Peter J. Gundermann (President and CEO): 14,460 shares
- David C. Burney (Vice President and CFO): 4,610 shares
These options have an exercise price of $17.36 per share and vest at a rate of 20% per year.
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 specific compensation event described.
Investor Verification Checklist
- Verify the total number of shares authorized under the 2001 Stock Option Plan to assess remaining availability.
- Confirm the current market price of Astronics stock relative to the $17.36 exercise price to evaluate the intrinsic value of the grants.
- Review the vesting schedule details to understand the retention timeline for the named executives.