[Form 4] AAON, INC. Insider Trading Activity

Rhea-AI Filing Summary

AAON, Inc. insider Form 4 shows Executive Vice President and director Matthew Shaub purchased 428 shares of AAON common stock on 09/12/2025 at a reported price of $81.7 per share. After the transaction, Mr. Shaub beneficially owned 1,783 shares directly and 508 shares indirectly through a 401(k) plan, for a combined total of 2,291 shares. The filing is signed by Matthew Shaub on 09/15/2025. No derivative transactions or other changes were reported.

Insights

Financial Analyst

TL;DR: An insider purchase of 428 shares at $81.7 signals modest insider alignment with shareholder interests.

The purchase by an executive officer increases his direct stake to 1,783 shares and total beneficial ownership to 2,291 shares. While the size is small relative to a public company cap table, insider purchases can indicate confidence in the company's near-term outlook. There are no derivative holdings reported and no dispositions, which simplifies interpretation. Investors should note the transaction size relative to market capitalization before inferring broader significance.

Corporate Governance Expert

TL;DR: Routine Section 16 filing documents a disclosed open-market purchase by an officer; compliance appears complete.

The Form 4 identifies the reporting person, relationship to the issuer (Executive Vice President and director), transaction date, price, and post-transaction ownership, and is properly signed. The indirect ownership via a 401(k) plan is disclosed. No amendments or corrective statements are indicated. From a governance perspective, the filing meets disclosure expectations for insider activity.

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).

1. Name and Address of Reporting Person^*

Shaub Matthew

(Last) (First) (Middle)

2425 S YUKON AVE

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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	09/12/2025		P		428	A	$81.7(1)	1,783	D
Common Stock, par value $.004								508	I	401(k) Plan

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

Explanation of Responses:

1. All shares granted/purchased/converted/sold, as applicable, at an exact price. A breakdown is not applicable.

Remarks:

	Matthew Shaub	09/15/2025
	** 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 transaction did Matthew Shaub report on AAON (AAON) Form 4?

Mr. Shaub reported a purchase of 428 shares of AAON common stock on 09/12/2025 at a price of $81.7 per share.

How many AAON shares does Matthew Shaub beneficially own after the reported transaction?

Following the transaction Mr. Shaub beneficially owns 1,783 shares directly and 508 shares indirectly via a 401(k) plan, totaling 2,291 shares.

Was the Form 4 for AAON signed and when?

Yes. The Form 4 is signed by Matthew Shaub with a signature date of 09/15/2025.

Does the Form 4 show any derivative transactions for AAON?

No. Table II for derivative securities shows no reported transactions or holdings.

What is Matthew Shaub's role at AAON as listed on the Form 4?

He is listed as an Executive Vice President and a Director of AAON.