AAR CORP (AIR) CEO sells 86,175 shares after option exercises

Rhea-AI Filing Summary

AAR CORP Chairman, President & CEO John McClain Holmes III exercised and sold shares in a routine option transaction. He exercised stock options for 86,175 shares of common stock at exercise prices of $37.66 and $37.74 per share, then sold the same 86,175 shares in open‑market trades at weighted average prices of $112.41 and $107.60 per share, in multiple transactions within disclosed price ranges. After these transactions, he directly holds 235,064 shares of AAR CORP common stock.

Insider Trade Summary

Net Seller: 86,175 shares ($9,561,342)

Net Sell 9 txns

Insider Holmes John McClain III

Role Chairman, President & CEO

Sold 86,175 shs ($9.56M)

Type	Security	Shares	Price	Value
Exercise	Stock Option	2,225	$0.00	--
Exercise	Stock Option	23,950	$0.00	--
Exercise	Common Stock	2,225	$37.66	$84K
Sale	Common Stock	2,225	$107.6039	$239K
Exercise	Common Stock	23,950	$37.74	$904K
Sale	Common Stock	23,950	$107.6039	$2.58M
Exercise	Stock Option	60,000	$0.00	--
Exercise	Common Stock	60,000	$37.66	$2.26M
Sale	Common Stock	60,000	$112.4135	$6.74M

Holdings After Transaction: Stock Option — 0 shares (Direct); Common Stock — 237,289 shares (Direct)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.0000 to $115.0000 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $107.5000 to $107.7075 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.

Key Figures

Shares sold: 86,175 shares Options exercised: 86,175 shares Exercise prices: $37.66 and $37.74 per share +4 more

7 metrics

Shares sold 86,175 shares Total AAR CORP common shares sold in open-market transactions

Options exercised 86,175 shares Total shares acquired via option exercises before sale

Exercise prices $37.66 and $37.74 per share Strike prices of stock options converted into common shares

Sale price (weighted avg) $112.4135 per share Weighted average price for 60,000-share sale on 2026-03-26

Sale price (weighted avg) $107.6039 per share Weighted average price for 26,175 shares sold on 2026-03-27

Shares held after 235,064 shares Direct AAR CORP common stock ownership after all transactions

Option expiration dates 2029-07-08 and 2031-07-12 Original expiration for exercised stock option grants

Key Terms

Stock Option, open-market sale, weighted average price, derivative exercise/conversion, +1 more

5 terms

Stock Option financial

"security_title: "Stock Option" and underlying_security_title: "Common Stock""

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

open-market sale financial

"transaction_action: "open-market sale" with transaction_code "S""

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.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion" for transaction code "M""

non-derivative financial

"transaction_type: "non-derivative" for common stock entries"

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^*

Holmes John McClain III

(Last) (First) (Middle)

1100 N. WOOD DALE ROAD

(Street)

WOOD DALE ILLINOIS 60191

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman, President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026

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	03/26/2026		M		60,000	A	$37.66	295,064	D
Common Stock	03/26/2026		S		60,000	D	$112.4135(1)	235,064	D
Common Stock	03/27/2026		M		2,225	A	$37.66	237,289	D
Common Stock	03/27/2026		S		2,225	D	$107.6039(2)	235,064	D
Common Stock	03/27/2026		M		23,950	A	$37.74	259,014	D
Common Stock	03/27/2026		S		23,950	D	$107.6039(2)	235,064	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	$37.66	03/26/2026		M			60,000	07/31/2020	07/08/2029	Common Stock	60,000	$0	2,225	D
Stock Option	$37.66	03/27/2026		M			2,225	07/31/2020	07/08/2029	Common Stock	2,225	$0	0	D
Stock Option	$37.74	03/27/2026		M			23,950	07/31/2022	07/12/2031	Common Stock	23,950	$0	0	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 $112.0000 to $115.0000 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $107.5000 to $107.7075 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.

	/s/ Katherine Kwiat, power of attorney	03/30/2026
	** 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 AAR (AIR) CEO John McClain Holmes III do in this Form 4?

He reported exercising stock options and selling the resulting shares. Holmes exercised options for 86,175 AAR CORP common shares, then sold all of those shares in open-market transactions, while remaining directly invested with 235,064 shares after the trades.

How many AAR (AIR) shares did the CEO sell in the reported transactions?

He sold a total of 86,175 AAR CORP common shares. These sales occurred in three open-market transactions over two days, each reported with a weighted average price and detailed price ranges for the individual trades in the accompanying footnotes.

At what prices did the AAR (AIR) CEO sell his shares?

He sold shares at weighted average prices of $112.4135 and $107.6039 per share. Footnotes explain that actual sales occurred in multiple trades within ranges of $112.00–$115.00 and $107.50–$107.7075, with full breakdowns available on request.

What stock options did the AAR (AIR) CEO exercise in this filing?

He exercised stock options covering 86,175 shares of common stock. The options had exercise prices of $37.66 and $37.74 per share, with original expiration dates in 2029 and 2031, converting them into common shares that were then sold.

How many AAR (AIR) shares does the CEO own after these transactions?

Following the reported exercises and sales, he directly owns 235,064 AAR CORP common shares. This figure reflects his remaining direct holdings after exercising stock options for 86,175 shares and selling all of those acquired shares in open-market transactions.

Were the AAR (AIR) CEO’s sales in this Form 4 open-market transactions?

Yes, the filing describes the sales as open-market or private transactions under transaction code S. The reported prices are weighted averages for trades executed within specified ranges, with the CEO offering to provide detailed trade-level pricing information upon request.