[Form 4] Aaon Inc Insider Trading Activity

Rhea-AI Filing Summary

Christopher D. Eason, identified as an officer (Principal Accounting Officer), reported multiple transactions in AAON, Inc. (AAON) on 08/25/2025. He exercised several stock options at exercise prices ranging from $29.48 to $79.73 and concurrently sold shares in multiple trades at weighted average sale prices around $85.00 to $85.34. After these transactions the reporting person shows 5,301 shares of common stock held directly. The Form 4 also lists remaining stock options exercisable or outstanding, including option holdings of 592, 1,192 and 1,833 underlying shares for specified grants with expiration dates through 2035. The filing includes execution-range explanations for the reported sale prices and a 401(k) indirect holding of 2,162 shares.

Insights

Securities Analyst

TL;DR: Insider exercised multiple option grants and sold shares, retaining a modest direct stake and several option tranches.

The Form 4 shows routine option exercises paired with market sales, common when insiders exercise vested awards and monetize proceeds. Sale prices reported as weighted averages near $85 indicate transactions executed across several trades. The reporting person retains direct ownership of 5,301 common shares and maintains outstanding option positions across multiple grant dates with expirations extending to 2035, suggesting ongoing long-term incentive alignment. The 401(k) indirect holding of 2,162 shares is disclosed separately.

Corporate Governance Expert

TL;DR: Disclosure is consistent with Section 16 reporting; transactions were explained and multiple grant vintages remain outstanding.

The filing includes required explanations about price ranges for multiple trades and provides full option grant details including exercise prices and expiration dates. The mix of immediate sales following exercises appears to be an execution of exercised shares rather than an unexplained divestiture. All transactions are reported on a single Form 4 filed by one reporting person, and the signature block is present, consistent with regulatory expectations.

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

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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^*

Eason Christopher Douglas

(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)
	Principal Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

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	08/25/2025		M		300	A	$29.48	5,601	D
Common Stock, par value $.004	08/25/2025		S		300	D	$85.08(1)	5,301	D
Common Stock, par value $.004	08/25/2025		M		549	A	$48.91	5,850	D
Common Stock, par value $.004	08/25/2025		S		549	D	$85.08(2)	5,301	D
Common Stock, par value $.004	08/25/2025		M		7,231	A	$43.5	12,532	D
Common Stock, par value $.004	08/25/2025		S		7,231	D	$85.07(3)	5,301	D
Common Stock, par value $.004	08/25/2025		M		2,142	A	$36.13	7,443	D
Common Stock, par value $.004	08/25/2025		S		2,142	D	$85.12(4)	5,301	D
Common Stock, par value $.004	08/25/2025		M		1,185	A	$62.05	6,486	D
Common Stock, par value $.004	08/25/2025		S		1,185	D	$85.06(5)	5,301	D
Common Stock, par value $.004	08/25/2025		M		596	A	$79.73	5,897	D
Common Stock, par value $.004	08/25/2025		S		596	D	$85.08(6)	5,301	D
Common Stock, par value $.004								2,162	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)	$29.48	08/25/2025		M			300	03/11/2021	03/11/2030	Common Stock	300	$29.48	0	D
Stock Option (Right to Buy)	$48.91	08/25/2025		M			549	03/11/2022	03/11/2031	Common Stock	549	$48.91	0	D
Stock Option (Right to Buy)	$43.5	08/25/2025		M			7,231	05/11/2022	05/11/2031	Common Stock	7,231	$43.5	0	D
Stock Option (Right to Buy)	$36.13	08/25/2025		M			2,142	03/15/2023	03/15/2032	Common Stock	2,142	$36.13	0	D
Stock Option (Right to Buy)	$62.05	08/25/2025		M			1,185	03/06/2024	03/06/2033	Common Stock	1,185	$62.05	592	D
Stock Option (Right to Buy)	$79.73	08/25/2025		M			596	03/11/2025	03/11/2034	Common Stock	596	$79.73	1,192	D
Stock Option (Right to Buy)	$82.39							03/11/2026	03/11/2035	Common Stock	1,833		1,833	D

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $85.00 to $85.08. 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.

2. This transaction was executed in multiple trades at prices ranging from $85.08 to $85.09. 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.

3. This transaction was executed in multiple trades at prices ranging from $85.00 to $85.34. 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.

4. This transaction was executed in multiple trades at prices ranging from $85.00 to $85.32. 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.

5. This transaction was executed in multiple trades at prices ranging from $85.00 to $85.09. 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.

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

Remarks:

	Christopher D Eason	08/27/2025
	** 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 transactions did AAON insider Christopher D. Eason report on Form 4?

He exercised multiple stock options on 08/25/2025 and sold shares in multiple trades, with weighted average sale prices reported around $85.

How many AAON shares does Christopher D. Eason directly own after these transactions?

5,301 shares of common stock are reported as beneficially owned directly following the transactions.

What option positions remain outstanding for the reporting person?

Option tranches shown include underlying amounts of 592, 1,192 and 1,833 shares (among other grants listed), with expirations through 2035.

Were the sale prices provided precisely or as ranges?

Sale prices were reported as weighted averages and the filing explains execution in multiple trades with price ranges (e.g., $85.00 to $85.34).

Does the Form 4 show any indirect holdings?

Yes. The filing reports an indirect holding of 2,162 shares attributed to a 401(k) plan.