[Form 4] AAON, INC. Insider Trading Activity

Rhea-AI Filing Summary

AAON, Inc. director and 10% owner Norman H. Asbjornson reported a gift of 71,916 shares of AAON common stock on 11/14/2025 at a price of $0, reflecting a non-cash transfer. After this transaction, he beneficially owned 97,504 shares directly, 10,810 shares through a 401(k) plan, 1,289,290 shares through a private foundation, and 11,683,842 shares as trustee of trusts. He also holds several stock options to purchase AAON common stock at exercise prices ranging from $22.93 to $48.91, covering amounts from 16,429 to 285,000 shares with expiration dates between 2027 and 2031.

SEC Form 4

FORM 4

UNITED STATES 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
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ASBJORNSON NORMAN H

(Last) (First) (Middle)

AAON INC

2425 SOUTH YUKON

(Street)

TULSA OK 74107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AAON, INC. [ AAON ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

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

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - 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 Transaction(s) (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
Common Stock, par value $.004								97,504	D
Common Stock, par value $.004								10,810	I	401(k) Plan
Common Stock, par value $.004								1,289,290	I	Private Foundation
Common Stock, par value $.004	11/14/2025		G		71,916	D	$0	11,683,842	I	Trustee of trusts

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. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$22.93							05/12/2022	02/22/2027	Common Stock	53,805		53,805	D
Stock Option (Right to Buy)	$24.63							05/12/2022	01/02/2028	Common Stock	173,550		173,550	D
Stock Option (Right to Buy)	$27.58							05/12/2022	03/11/2029	Common Stock	285,000		285,000	D
Stock Option (Right to Buy)	$29.48							05/12/2022	03/11/2030	Common Stock	118,320		118,320	D
Stock Option (Right to Buy)	$48.91							05/12/2022	03/11/2031	Common Stock	16,429		16,429	D

Explanation of Responses:

Remarks:

	Norman H. Asbjornson	11/18/2025
	** Signature of Reporting Person	Date
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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.

FAQ

What insider transaction did AAON (AAON) report in this Form 4?

AAON reported that director and 10% owner Norman H. Asbjornson made a gift of 71,916 shares of AAON common stock on 11/14/2025 at a price of $0, indicating a non-cash transfer.

How many AAON shares does Norman H. Asbjornson own after the reported transaction?

Following the reported gift, Norman H. Asbjornson beneficially owns 97,504 shares directly, 10,810 shares in a 401(k) plan, 1,289,290 shares through a private foundation, and 11,683,842 shares as trustee of trusts.

What is Norman H. Asbjornson’s relationship to AAON (AAON)?

Norman H. Asbjornson is listed as a Director and a 10% Owner of AAON, Inc., indicating a significant ownership and governance role at the company.

Were any derivative securities reported for AAON insider Norman H. Asbjornson?

Yes. The filing lists several stock options (rights to buy AAON common stock) with exercise prices from $22.93 to $48.91, covering 16,429 to 285,000 shares each, with expiration dates between 2027 and 2031 and all held directly.

Does this AAON Form 4 indicate cash proceeds from the insider transaction?

The transaction code is G (gift) and the reported price is $0, indicating the transfer of 71,916 AAON shares was a non-cash gift rather than a sale for cash.

How is Norman H. Asbjornson’s AAON ownership structured across different accounts?

His AAON holdings are reported as direct ownership (97,504 shares), 401(k) plan (10,810 shares), private foundation (1,289,290 shares), and trustee of trusts (11,683,842 shares).