Altitude deviation
Last week we had one of our aircraft committed an altitude deviation in which the pilots promptly filed a NASA report. They were cleared to maintain 7000 then cleared to to 5000 with a turn ,aadditionally they were given 2ndturn and the pilot flying saw 3000 in the asel window and queried the F/O and he confirmed now we are cleared to 3000 .Nevertheless the PIC slowed his descent rate to 100 fpm,as he had not heard the "3000".ATC came back telling thm to maintain 5000 unfortuntely he was at 4600 and in his words" I snapped back to 5000 in like 3 seconds" The airspace was quiet and ATC did not issue a Brasher not did the next freq which was the tower.We had this meeting within the department and one of the other pilots was convinced that there could be an administrative action or nothing.
Any thoughts out there on this.