Mulato James 4

What Happened

• James Mulato, President of Astronics Test Systems, received an award of 7,675 restricted stock units (RSUs) on February 19, 2026. The Form 4 reports the acquisition as a derivative award at $0.00 per unit (code A). Each RSU represents the right to receive one share of common stock upon settlement.
• This was a non-cash equity award (not an open-market purchase or sale). The Form 4 shows acquisition of the RSUs but not an immediate transfer of share ownership or cash value.

Key Details

• Transaction date and filing: Award dated 2026-02-19; Form 4 filed 2026-02-23 (filed within required business-timeframe).
• Reported amount: 7,675 RSUs acquired at $0.00 (derivative grant). The Form 4 lists the units, not a dollar value for settled shares.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: Each RSU equals one share at settlement.
  • F2–F5: Vesting is performance-based tied to Astronics’ average annual adjusted EBITDA over various multi-year periods; vesting percentages can vary (examples in the filing include ranges such as 50%–150% or 75%–115%) with settlement dates ranging from Feb 23, 2026 through Feb 19, 2029 depending on the award.
• Transaction type: A = Award/Grant of derivative securities (RSUs).

Context

• These RSUs are contingent on future performance metrics (adjusted EBITDA) and have variable vesting outcomes; they do not represent immediately tradable shares.
• Non-cash equity grants are common as part of executive/manager compensation and do not by themselves signal immediate insider buying or selling.