- Common and Class B stockholders to receive Class B Stock
East Aurora, NY | September 10, 2015– Astronics Corporation (NASDAQ: ATRO), a leading supplier of products to the global aerospace, defense, consumer electronics and semiconductor industries, announced a 15% stock distribution of Class B Stock to holders of both Common and Class B Stock. Stockholders will receive three shares of Class B Stock for every twenty shares of Common and Class B Stock held on the record date of October 8, 2015, with an ex-dividend date of October 6, 2015. The Company expects the new shares to be distributed on or about October 22, 2015. Fractional shares will be paid in cash.
Astronics initially distributed shares of Class B Stock to Common and Class B stockholders in 1987, and has made distributions of Class B shares in each of the previous four years. Currently, there are approximately 17.3 million Common and 4.9 million Class B shares outstanding. After the distribution, approximately 17.3 million Common and 8.2 million Class B shares will be outstanding.
Astronics Class B Stock is entitled to ten votes per share while Common Stock is entitled to one vote per share. The economic value of one share of Class B Stock is equivalent to one share of Common Stock. Class B Stock is not a tradable security, but is convertible, at all times and without cost to the shareholder, into one share of Astronics Corporation Common Stock, which is tradable and provides shareholders of Class B Stock access to the market. Subject to certain exceptions, shares of Astronics Class B Stock automatically convert into an equal number of shares of Common Stock upon transfer.
Information regarding the Class B share distribution and instructions to convert Class B stock into Common stock can be found in the Frequently Asked Questions page of the Investor Relations section at www.astronics.com. Registered shareholders and brokers should contact the Company’s transfer agent, Wells Fargo Shareowner Services at (800) 468-9716, regarding the conversion of Class B Stock to Common Stock. Wells Fargo is the agent for the distribution.
- Common and Class B stockholders to receive Class B Stock
East Aurora, NY | September 27, 2013–
Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced a 20% stock distribution of Class B Stock to holders of both Common and Class B Stock. Stockholders will receive one share of Class B Stock for every five shares of Common and Class B Stock held on the record date of October 10, 2013. Fractional shares will be paid in cash. The Company expects the new shares to be distributed on or about October 24, 2013.
Astronics initially distributed shares of Class B Stock to Common and Class B stockholders in 1987. Additional Class B share distributions were made in 1988, 2000, 2001, 2008, 2011 and 2012. Currently, there are approximately 3.1 million Class B and 11.5 million Common shares outstanding. After the distribution, approximately 6.0 million Class B and 11.5 million Common shares will be outstanding.
Astronics Class B Stock is entitled to ten votes per share while Common Stock is entitled to one vote per share. Class B Stock is not a tradable security, but is convertible, at all times and without cost to the shareholder, into one share of Astronics Corporation Common Stock, which is tradable and provides shareholders of Class B Stock access to the market. The economic value of one share of Class B Stock is equivalent to one share of Common Stock. Subject to certain exceptions, shares of Astronics Class B Stock automatically convert into an equal number of shares of Common Stock upon transfer.
Information regarding the Class B share distribution and instructions to convert Class B stock into Common stock can be found in the Frequently Asked Questions section of Astronics’ website at www.astronics.com. Registered shareholders and brokers should contact the Company’s transfer agent, American Stock Transfer & Trust Company (AST) at (800) 937-5449, regarding the conversion of Class B Stock to Common Stock. AST is the agent for the distribution.
In-flight entertainment and related technologies, such as onboard Internet access, are critically important to the passengers I speak with every day. An authoritative resource about the latest developments in the in-flight entertainment industry will lead to better products and happier customers.”