[Form 4] Academy Sports and Outdoors, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Ford Earl Carlton IV, EVP & CFO of Academy Sports & Outdoors, reported changes in his holdings of the issuer's common stock. On 09/06/2025 1,621 restricted stock units were deemed acquired (conversion one-for-one) and the filing indicates those RSUs and shares from the employee stock purchase plan contributed to a post-transaction beneficial ownership of 15,099 shares. On 09/08/2025 the reporting person disposed of 638 shares at a price of $50.86, leaving 14,461 shares beneficially owned. The RSUs were granted under the 2020 Omnibus Incentive Plan; a separate 9/06/2023 grant of 4,863 time-based RSUs vests in three equal installments beginning on the first anniversary of that grant.

Positive

• RSU conversion documented showing alignment of executive compensation with company equity
• Clear disclosure of transaction dates, amounts and price for the sale on 09/08/2025

Negative

• Reduction in beneficial ownership from 15,099 to 14,461 shares after the sale
• No explanation provided in the filing for the purpose of the 638-share disposition beyond the basic transaction code

Insights

Securities Analyst

TL;DR: Insider received RSUs and executed a small open-market sale two days later; ownership remains material but no new compensation plan changes.

The 1,621 RSU settlement increases direct holdings while the 638-share sale at $50.86 reduced holdings modestly to 14,461 shares. Transactions reflect routine executive equity compensation and subsequent disposition of a portion of shares. The filing includes disclosure of prior 4,863 RSU grant vesting schedule which is informational for dilution and executive alignment analysis.

Corporate Governance Expert

TL;DR: Filing shows standard reporting of equity compensation and a small sale, with appropriate plan references and signature by attorney-in-fact.

The Form 4 identifies the reporting person, relationship to issuer, plan name, and vesting terms for earlier RSUs. The sale appears routine and was properly disclosed; signature executed by an attorney-in-fact is documented. No governance anomalies or unexplained transfers are present in the disclosed text.

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^*

Ford Earl Carlton IV

(Last) (First) (Middle)

C/O ACADEMY SPORTS AND OUTDOORS, INC.

1800 NORTH MASON ROAD

(Street)

KATY TX 77449

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Academy Sports & Outdoors, Inc. [ ASO ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & CFO

3. Date of Earliest Transaction (Month/Day/Year)
09/06/2025

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	09/06/2025		M		1,621	A	(1)	15,099(2)	D
Common Stock	09/08/2025		F		638	D	$50.86	14,461	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
Restricted Stock Units(3)	(1)	09/06/2025		M			1,621	(4)	(4)	Common Stock	1,621	$0	1,621	D

Explanation of Responses:

1. Restricted stock units convert into Common Stock on a one-for-one basis.

2. Includes shares of Common Stock acquired under the Issuer's employee stock purchase plan.

3. Granted under the Company's 2020 Omnibus Incentive Plan, as amended.

4. On September 6, 2023, subject to the Reporting Person's continued service, the Reporting Person was granted 4,863 time-based restricted stock units that vest in three equal installments beginning on the first anniversary of the grant date.

Remarks:

	/s/ Gary Holland, Attorney-in-Fact	09/08/2025
	** 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 insider transactions were reported for ASO on this Form 4?

The filing reports acquisition of 1,621 shares via RSU conversion on 09/06/2025 and sale of 638 shares on 09/08/2025 at $50.86 per share.

Who filed the Form 4 for ASO and what is their role?

The reporting person is Ford Earl Carlton IV, identified as EVP & CFO of Academy Sports & Outdoors.

How many shares does the reporting person beneficially own after the reported transactions?

After the reported transactions the filing shows 14,461 shares beneficially owned.

What equity plans and prior grants are disclosed in the filing?

The RSUs were granted under the Company's 2020 Omnibus Incentive Plan. A prior grant on 09/06/2023 of 4,863 time-based RSUs vests in three equal annual installments beginning one year after the grant.

Who signed the Form 4 and when?

The filing is signed by Gary Holland, Attorney-in-Fact on 09/08/2025.