[Form 4] ALLISON TRANSMISSION HOLDINGS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Insider report: Ryan A. Milburn, Vice President, Engineering & Technical Development at Allison Transmission Holdings, Inc. (ALSN), reported an acquisition on 08/29/2025 of 9 dividend equivalent rights tied to previously awarded restricted stock units (RSUs). Those rights are the economic equivalent of one share each and vest proportionately with the underlying RSUs. The reported transaction shows a $0 price for the dividend equivalents and brings Mr. Milburn's total reported beneficial ownership to 70 shares on a direct basis. The Form 4 was signed by an attorney-in-fact on 09/03/2025.

Positive

• Executive alignment: Dividend equivalent rights vest with RSUs, reinforcing alignment between the executive and shareholders.
• Transparency: Timely Form 4 filing documents the vesting event and updates insider holdings to 70 shares.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A routine equity vesting disclosure showing executive alignment with shareholder value via RSU-linked dividend equivalents.

The filing documents a minor, mechanical vesting event rather than a discretionary purchase or sale. The 9 dividend equivalent rights simply reflect distributions tied to existing RSUs and vest on the same schedule as those awards. This type of disclosure is standard under Section 16 and signals continued alignment between the executive’s compensation and shareholder interests, without indicating any change in strategy or control.

Compensation/Equity Analyst

TL;DR: Small, non-cash accrual of dividend equivalents that increases reported direct holdings to 70 shares.

The report shows 9 dividend equivalent rights valued at $0 on the form, consistent with non-cash bookkeeping for RSU-related dividends. Because the amount is modest and no cash transaction or option exercise is reported, the event has negligible impact on dilution or cash flows. It is a routine record-keeping disclosure of equity compensation vesting.

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
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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^*

Milburn Ryan A.

(Last) (First) (Middle)

C/O ALLISON TRANSMISSION HOLDINGS, INC.

ONE ALLISON WAY

(Street)

INDIANAPOLIS IN 46222

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Allison Transmission Holdings Inc [ ALSN ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, Engr. & Tech Dev.

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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

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
Dividend Equivalent Rights	(1)	08/29/2025		A		9		(1)	(1)	Common Stock	9	$0	70	D

Explanation of Responses:

1. The dividend equivalent rights accrued on previously awarded restricted stock units ("RSUs") and vest proportionately with the RSUs to which they relate. Each dividend equivalent right is the economic equivalent of one share of Allison Transmission Holdings, Inc. common stock.

	/s/ Preston B. Ray, Attorney-in-Fact	09/03/2025
	** 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 did the Form 4 filed for ALSN report?

The Form 4 reports that Ryan A. Milburn acquired 9 dividend equivalent rights on 08/29/2025 tied to previously awarded RSUs, increasing his direct beneficial ownership to 70 shares.

What are dividend equivalent rights in this filing?

Per the filing, each dividend equivalent right is the economic equivalent of one share of Allison Transmission common stock and vests proportionately with the related RSUs.

Was any cash paid for the reported securities?

No cash price is reported: the Form 4 shows a $0 price for the dividend equivalent rights, indicating a non-cash accrual tied to RSUs.

Who filed the Form 4 signature and when?

The Form 4 was signed by an attorney-in-fact, /s/ Preston B. Ray, on 09/03/2025.

What is Ryan A. Milburn’s role at Allison Transmission (ALSN)?

The filing identifies Ryan A. Milburn as VP, Engineering & Technical Development and as an officer of the issuer.