OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response..................................0.5

FORM 4

 

                                            U.S. SECURITIES AND EXCHANGE COMMISSION
                                             Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 of Section 30(f) of the Investment Company Act of 1940

1.  Name and address of Reporting Person*

GUNDERMANN PETER J.

 

2.  Issuer Name and Ticker or Trading Symbol

ASTRONICS CORPORATION (ATRO)

6.  Relationship of Reporting Person to Issuer
     (Check all applicable)
  [ X ]  Director               [   ] 10% Owner
  [    ] Officer (give           [   ] Other (specify
           title below)                 below)

 

(Last)                   (First)                (Middle)

130 Commerce Way

3.  I.R.S. Identification
     Number of Reporting
     Person, if an Entity
     (Voluntary)

4. Statement for Month/Day/Year

March 20, 2003

(Street)

East Aurora, NY  14052

5.  If Amendment, Date of Original (Month/Day/Year)

 7.  Individual or Joint/Group Filing
     (Check applicable box)
[X ]  Form filed by One Reporting Person
[    ] Form filed by More than One Reporting
       person

(City)                   (State)                  (Zip)

 

Table 1 - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.  Title of Security
     (Instr. 3)		 2.  Transaction Date


Month/Day/
Year)
 		 2A. Deemed Execution Date, if any


(Month/Day/ Year)		 3. Transaction Code (Instr. 8)

4. Securities Acquired (A) or
    Disposed of (D)
    (Instr. 3, 4 and 5)

 5. Amount of Securities Beneficially Owned Following Reported Transactions
(Instr. 3 and 4)		 6.Ownership Form: Direct (D) or Indirect (I)



(Instr. 4)		 7. Nature of Indirect Beneficial Ownership



(Instr. 4)




Code




V




Amount


(A)
or
(D)




Price
$01 Par Value Common Stock

93048

D
$01 Par Value Class B Stock          

 

  

43415

D

  
                     
$01 Par Value Common Stock

6114

I

 *By Spouse
$01 Par Value Class B Stock          

 

  

3064

I

 *By Spouse

Reminder:  Report on a separate line for each class of securities beneficially owned directly or indirectly.                                                                          
*If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v).

Potential Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
 

Form 4 (continued)            Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
                                                                    (e.g., puts, calls, warrants, options, convertible securities)

1.  Title of Derivative Security (Instr. 3) 2.Conver-sion or
Exercise
Price of
Deri-
vative
Security
 		 3.Trans-action
Date

(Month/
Day/
Year)
 		 3A.
Deemed
Execution
Date, if any
(Month/
Day/
Year) 		4.Trans-action
Code
(Instr.8)		 5. Number
of Derivative Securities Ac-
quired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 6.Date Exercisable
and Expiration
Date
(Month/Day/Year)		 7.Title and Amount
of Underlying
Securities
(Instr. 3 and 4)		 8. Price
of
Deriv-
ative
Secur-
ity
(Instr. 5)

 

 9.Number
of deriv-
Secur-
ities
Bene-
ficially
Owned Follow-
ing
Reported
Trans-
action(s)
(Instr. 4)		 10.Owner-ship
Form of Deriv-
ative
Security
Direct
(D) or
Indirect (I)
(Instr. 4)		 11. Nature
of Indirect
Beneficial
Ownership
(Instr. 4)


Code



V

(A)

(D)		 Date Exer-
cisable		 Expira-
tion
Date


Title

 Amount or
Number of Shares

Option

$2.394

 03/18/03

J(1)

V

7404

12/20/97

12/20/06

$01 PV Com Stk

7404

7404

D
Option

$2.394

 03/18/03

J(1)

V

2776

12/20/97

12/20/06

$.01 PV CL B Stk

2776

2776

D
Option

$4.761

 03/18/03

J(1)

V

12926

01/18/00

01/18/09

$01 PV Com Stk

12926

12926

D
Option

$4.761

 03/18/03

J(1)

V

4846

01/18/00

01/18/09

$.01 PV CL B Stk

4846

4846

D
Option

$5.672

 03/18/03

J(1)

V

12118

01/18/01

01/18/10

$01 PV Com Stk

12118

12118

D
Option

$5.672

 03/18/03

J(1)

V

4544

01/18/01

01/18/10

$.01 PV CL B Stk

4544

4544

D
Option

$11.319

 03/18/03  

J(1)

V

11174

  

04/26/02

04/26/11

$01 PV Com Stk

11174

  

11174

D

  
Option

$11.319

 03/18/03  

J(1)

V

2794

  

04/26/02

04/26/11

$.01 PV CL B Stk

2794

  

2794

D

  
Option

$9.433

 03/18/03  

J(1)

V

12521

  

01/25/03

01/25/12

 $01 PV Com Stk

12521

  

12521

D

  
Option

$4.917

 03/18/03  

J(1)

V

36352

  

12/24/03

12/24/13

 $01 PV Com Stk

36352

  

36352

D

  

 

Explanation of Responses:

1) Substitution options as a result of the MOD-PAC spin-off.

 

**  Intentional misstatements or omissions of facts constitute Federal Criminal Violations
     See 18 U.S.C. 1001 and 15 U.S.C/ 78ff(a).

/s/ C. Anthony Rider, as Power of Attorney for
PETER J. GUNDERMANN

  


March 20, 2003

      **Signature of Reporting Person

Date
 

C. Anthony Rider, as Power of Attorney for
PETER J. GUNDERMANN

    
Note:  File three copies of this Form, one of which must be manually signed.  If space provided is insufficient,
see Instruction 6 for procedure.		      
Potential Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.