AAON, Inc. (AAON) CAO sells 7,292 shares after option exercise

Rhea-AI Filing Summary

AAON, Inc. Chief Accounting Officer Rebecca Thompson reported an exercise-and-sell transaction in company stock. She exercised stock options to acquire 7,292 shares of common stock at an exercise price of $29.48 per share, then sold 7,292 shares in an open-market sale at a weighted average price of $100.10 per share, with individual trades ranging from $100.00 to $100.25 on the same date. Following these transactions, she directly holds 27,681 shares of common stock and indirectly holds 4,230 shares through a 401(k) plan, and she retains multiple stock option awards on additional shares with exercise prices between $27.58 and $91.51 expiring from 2029 to 2036.

Insights

Equity compensation analyst

Routine option exercise and matched sale; insider keeps meaningful stake.

AAON’s Chief Accounting Officer exercised stock options to buy 7,292 shares at $29.48 and sold the same number at a weighted average of $100.10. This is a classic exercise-and-sell pattern converting option value into cash.

After the transactions, she still directly holds 27,681 shares plus 4,230 shares in a 401(k), and maintains several option grants, including 91,500 underlying shares at a $27.58 strike expiring in 2029. That remaining exposure suggests continued alignment with shareholders.

The sale was executed in multiple trades between $100.00 and $100.25, with the filing disclosing a weighted average price. The data presented indicates a routine liquidity event rather than an outsized, thesis-changing transaction.

Insider Trade Summary

Net Seller: 7,292 shares ($729,929)

Net Sell 11 txns

Insider Thompson Rebecca

Role Chief Accounting Officer

Sold 7,292 shs ($730K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	7,292	$29.48	$215K
Exercise	Common Stock, par value $.004	7,292	$29.48	$215K
Sale	Common Stock, par value $.004	7,292	$100.10	$730K
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Common Stock, par value $.004	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 31,986 shares (Direct, null); Common Stock, par value $.004 — 34,973 shares (Direct, null); Common Stock, par value $.004 — 4,230 shares (Indirect, 401(k) Plan)

Footnotes (1)

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Key Figures

Shares sold: 7,292 shares Weighted average sale price: $100.10 per share Option exercise price: $29.48 per share +4 more

7 metrics

Shares sold 7,292 shares Common stock open-market sale on April 23, 2026

Weighted average sale price $100.10 per share Open-market sale, prices ranged $100.00–$100.25

Option exercise price $29.48 per share Stock option exercised for 7,292 underlying shares

Direct holdings after transaction 27,681 shares AAON common stock, direct ownership post-transaction

Indirect 401(k) holdings 4,230 shares AAON common stock held via 401(k) plan

Largest remaining option grant 91,500 underlying shares at $27.58 Stock option expiring March 11, 2029

Highest remaining option strike $91.51 per share Stock option expiring March 11, 2036

Key Terms

Stock Option (Right to Buy), weighted average sales price, open-market sale, derivative security, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)""

weighted average sales price financial

"The price reported above reflects the weighted average sales price."

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

401(k) Plan financial

"nature_of_ownership: "401(k) Plan""

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

Form 4 Insider Transactions: What Each Field Means →

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^*

Thompson Rebecca

(Last) (First) (Middle)

2425 S YUKON AVE

(Street)

TULSA OKLAHOMA 74107

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026

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

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

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

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	04/23/2026		M		7,292	A	$29.48	34,973	D
Common Stock, par value $.004	04/23/2026		S		7,292	D	$100.1(1)	27,681	D
Common Stock, par value $.004								4,230	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
Stock Option (Right to Buy)	$27.58							03/11/2020	03/11/2029	Common Stock	91,500		91,500	D
Stock Option (Right to Buy)	$29.48	04/23/2026		M			7,292	03/11/2021	03/11/2030	Common Stock	7,292	$29.48	31,986	D
Stock Option (Right to Buy)	$48.91							03/11/2022	03/11/2031	Common Stock	13,482		13,482	D
Stock Option (Right to Buy)	$36.13							03/15/2023	03/15/2032	Common Stock	8,820		8,820	D
Stock Option (Right to Buy)	$62.04							03/06/2024	03/06/2033	Common Stock	6,394		6,394	D
Stock Option (Right to Buy)	$79.73							03/11/2025	03/11/2034	Common Stock	4,602		4,602	D
Stock Option (Right to Buy)	$82.39							03/11/2026	03/11/2035	Common Stock	5,040		5,040	D
Stock Option (Right to Buy)	$91.51							03/11/2027	03/11/2036	Common Stock	15,762		15,762	D

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $100.00 to $100.25. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

	Rebecca Thompson	04/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did AAON (AAON) executive Rebecca Thompson report in this Form 4?

Rebecca Thompson reported exercising stock options for 7,292 AAON shares at $29.48, then selling 7,292 shares in open-market trades around $100.10. The filing also updates her remaining stock and option holdings after these transactions.

How many AAON shares did the CAO sell and at what price range?

She sold 7,292 AAON common shares in multiple open-market trades at prices ranging from $100.00 to $100.25. The Form 4 reports a weighted average sales price of $100.10 per share for this transaction sequence.

What options did the AAON CAO exercise in this filing?

The CAO exercised stock options covering 7,292 AAON common shares at an exercise price of $29.48 per share. The derivative table shows this option had an expiration date of March 11, 2030 and converted into the reported common stock.

How many AAON shares does Rebecca Thompson hold after these transactions?

After the Form 4 transactions, she directly holds 27,681 AAON common shares and indirectly holds 4,230 shares through a 401(k) plan. These positions are in addition to multiple outstanding stock option awards on further common shares.

What AAON stock options remain outstanding for the CAO after this Form 4?

She retains several stock option grants on AAON common stock, including 91,500 underlying shares at a $27.58 strike expiring in 2029 and additional grants with strikes up to $91.51, expiring from 2031 through 2036, according to the derivative summary.

Was the AAON CAO’s sale a single trade or multiple trades?

The Form 4 footnote explains the AAON CAO’s sale was executed in multiple trades at prices between $100.00 and $100.25. The filing reports a weighted average sales price of $100.10 and offers to provide full trade details upon request.