ASO CEO converts RSUs, disposes shares for taxes

Academy Sports & Outdoors, Inc. CEO Lawrence Steven Paul reported equity award activity involving performance-based restricted stock units and common shares.

Rhea-AI Filing Summary

Academy Sports & Outdoors, Inc. CEO Lawrence Steven Paul reported equity award activity involving performance-based restricted stock units and common shares. On March 4, 2026, he exercised 540 restricted stock units, converting them on a one-for-one basis into 540 shares of common stock at a price of $0.00 per share.

These units were originally granted on March 30, 2022 under the company’s 2020 Omnibus Incentive Plan and became earned and vested after the compensation committee certified stock price conditions. To satisfy tax obligations, 272 shares of common stock were disposed of at $59.78 per share, leaving Paul with 167,051 shares of common stock held directly after these transactions.

Insider Trade Summary

540 shares exercised/converted

Exercise 3 txns

Insider Lawrence Steven Paul

Role CEO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	540	$0.00	$0.00
Exercise	Common Stock	540	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	272	$59.78	$16K

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock — 167,051 shares (Direct)

Footnotes (3)

1. F1. Restricted stock units convert into common stock on a one-for-one basis.
2. F2. Granted under the Company's 2020 Omnibus Incentive Plan.
3. F3. On March 30, 2022, the Reporting Person was granted 8,501 performance-based restricted stock units ("PRSUs"). These PRSUs vest if certain performance criteria and/or Issuer stock price conditions are met and certified by the Issuer's compensation committee. On March 1, 2023, the Issuer's compensation committee certified achievement of 93.7% of the performance criteria during fiscal 2022 meaning that 7,961 PRSUs were deemed earned and have fully vested as of January 30, 2026. On March 4, 2026, the Issuer's compensation committee certified achievement of certain Issuer stock price conditions as of January 30, 2026, meaning that the remaining unearned amount of this grant (i.e., 540 PRSUs) was deemed earned and vested as of the date of such certification.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did ASO CEO Lawrence Steven Paul report on March 4, 2026?

He reported exercising 540 restricted stock units into 540 shares of Academy Sports & Outdoors common stock at $0.00 per share, and a related tax-withholding disposition of 272 common shares at $59.78 per share, all held in direct ownership.

How many Academy Sports & Outdoors (ASO) shares does the CEO hold after this Form 4?

Following the reported transactions, CEO Lawrence Steven Paul directly holds 167,051 shares of Academy Sports & Outdoors common stock. This reflects the RSU conversion and the 272-share tax-withholding disposition reported for March 4, 2026.

What was the source of the 540 restricted stock units exercised by ASO’s CEO?

The 540 restricted stock units came from an 8,501-performance-based RSU grant awarded on March 30, 2022 under the 2020 Omnibus Incentive Plan. They were earned after the compensation committee certified specific stock price conditions as of January 30, 2026.

How were Academy Sports & Outdoors CEO’s performance-based RSUs structured and vested?

The CEO’s 8,501 performance-based RSUs vested based on performance criteria and stock price conditions. In March 2023, 7,961 units were earned on 93.7% performance achievement, vesting by January 30, 2026. The remaining 540 units vested after stock price conditions were certified on March 4, 2026.

Why did ASO’s CEO dispose of 272 shares of common stock in this filing?

The 272-share disposition, coded “F,” represents payment of tax liability by delivering securities. Shares of Academy Sports & Outdoors common stock were withheld or delivered at $59.78 per share in connection with the vested restricted stock units reported in the same Form 4.

At what price were the Academy Sports & Outdoors (ASO) tax-withheld shares valued?

The 272 common shares disposed of to satisfy tax obligations were valued at $59.78 per share. This tax-withholding disposition is separate from the RSU conversion, which occurred at $0.00 per share for the 540 restricted stock units.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/05/2026 - 06:27 PM Learn about SEC filing dates

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^*

Lawrence Steven Paul

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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	03/04/2026		M		540	A	(1)	167,323	D
Common Stock	03/04/2026		F		272	D	$59.78	167,051	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(2)	(1)	03/04/2026		M			540	(3)	03/30/2032	Common Stock	540	$0	0	D

Explanation of Responses:

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

2. Granted under the Company's 2020 Omnibus Incentive Plan.

3. On March 30, 2022, the Reporting Person was granted 8,501 performance-based restricted stock units ("PRSUs"). These PRSUs vest if certain performance criteria and/or Issuer stock price conditions are met and certified by the Issuer's compensation committee. On March 1, 2023, the Issuer's compensation committee certified achievement of 93.7% of the performance criteria during fiscal 2022 meaning that 7,961 PRSUs were deemed earned and have fully vested as of January 30, 2026. On March 4, 2026, the Issuer's compensation committee certified achievement of certain Issuer stock price conditions as of January 30, 2026, meaning that the remaining unearned amount of this grant (i.e., 540 PRSUs) was deemed earned and vested as of the date of such certification.

Remarks:

	/s/ Gary Holland, Attorney-in-Fact	03/05/2026
	** 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).
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