AAR CORP (NYSE: AIR) VP exercises options, sells shares and gets awards

Rhea-AI Filing Summary

AAR CORP VP-CAO & Controller Eric Pachapa reported multiple stock transactions involving option exercises, share sales, and new equity awards. On January 22, 2026, he exercised options for 3,837 shares at $18.94 per share and 1,146 shares at $67.02 per share, then sold the same numbers of shares at a weighted average price of $105.9365 per share, with individual sale prices ranging from $105.7800 to $106.0700.

On the same date he received 465 shares of common stock under a Restricted Stock Agreement and 1,395 shares under a Performance Restricted Stock Agreement, each at $0. He also received a new stock option for 1,250 shares at an exercise price of $107.74, vesting in three equal annual installments starting on January 22, 2027. Following these transactions, he directly owned 22,245.32 shares of AAR CORP common stock and 1,250 stock options.

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^*

Pachapa Eric

(Last) (First) (Middle)

1100 N. WOOD DALE ROAD

(Street)

WOOD DALE IL 60191

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AAR CORP [ AIR ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP-CAO & Controller

3. Date of Earliest Transaction (Month/Day/Year)
01/22/2026

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	01/22/2026		M		3,837	A	$18.94	24,222.32	D
Common Stock	01/22/2026		S		3,837	D	$105.9365(1)	20,385.32	D
Common Stock	01/22/2026		M		1,146	A	$67.02	21,531.32	D
Common Stock	01/22/2026		S		1,146	D	$105.9365(1)	20,385.32	D
Common Stock	01/22/2026		A		465(2)	A	$0	20,850.32	D
Common Stock	01/22/2026		A		1,395(3)	A	$0	22,245.32	D

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	$18.94	01/22/2026		M			3,837	07/31/2021	07/13/2030	Common Stock	3,837	$0	0	D
Stock Option	$67.02	01/22/2026		M			1,146	07/31/2025	07/22/2034	Common Stock	1,146	$0	2,294	D
Stock Option	$107.74	01/22/2026		A		1,250		01/22/2027(4)	01/22/2036	Common Stock	1,250	$0	1,250	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.7800 to $106.0700 inclusive. The reporting person undertakes to provide AAR CORP., any security holder of AAR CORP., or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. Award of stock pursuant to a Restricted Stock Agreement in a transaction exempt under Rule 16b-3

3. Award of stock pursuant to a Performance Restricted Stock Agreement in a transaction exempt under Rule 16b-3.

4. The awarded stock option vests and becomes exercisable in 1/3 annual installments beginning on January 22, 2027 and shall vest as follows: 33 and 1/3% on each of January 22, 2027, January 22, 2028 and January 22, 2029.

	/s/ Katherine Kwiat, power of attorney	01/23/2026
	** Signature of Reporting Person	Date
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