ASO CEO exercises RSUs, updates share holdings

Academy Sports & Outdoors, Inc. CEO Lawrence Steven Paul reported routine equity compensation activity involving restricted stock units.

Rhea-AI Filing Summary

Academy Sports & Outdoors, Inc. CEO Lawrence Steven Paul reported routine equity compensation activity involving restricted stock units. On March 25 and 26, he exercised restricted stock units to acquire a total of 39,863 shares of common stock at a $0.00 exercise price, reflecting scheduled vesting under the company’s 2020 Omnibus Incentive Plan.

To cover tax obligations from these vestings, 20,072 shares of common stock were automatically withheld at prices of $53.54 and $53.33 per share, which is a tax-withholding disposition rather than an open-market sale. After these transactions, Paul directly holds 187,801 shares of Academy Sports & Outdoors common stock.

Insider Trade Summary

39,863 shares exercised/converted

Exercise 6 txns

Insider Lawrence Steven Paul

Role CEO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	16,544	$0.00	$0.00
Exercise	Common Stock	16,544	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	8,330	$53.33	$444K
Exercise	Restricted Stock Units	23,319	$0.00	$0.00
Exercise	Common Stock	23,319	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	11,742	$53.54	$629K

Holdings After Transaction: Restricted Stock Units — 63,184 contracts (Direct); Common Stock — 187,801 shares (Direct)

Footnotes (5)

1. F1. Restricted stock units convert into Issuer common stock, par value $0.01 per share ("Common Stock") on a one-for-one basis.
2. F2. Granted under the Company's 2020 Omnibus Incentive Plan.
3. F3. Each restricted stock unit represents a contingent right to receive one share of Common Stock.
4. F4. On March 26, 2024, subject to the Reporting Person's continued service, the Reporting Person was granted 49,633 time-based restricted stock units that vest in three equal installments beginning on the first anniversary of the grant date.
5. F5. On March 25, 2025, subject to the Reporting Person's continued service, the Reporting Person was granted 69,958 time-based restricted stock units that vest in three equal installments beginning on the first anniversary of the grant date.

FAQ

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

What did Academy Sports & Outdoors (ASO) CEO Lawrence Steven Paul report in this Form 4?

He reported routine equity compensation activity. Time-based restricted stock units vested and were exercised into 39,863 common shares at a $0.00 exercise price, with some shares withheld to satisfy related tax obligations.

How many Academy Sports & Outdoors (ASO) shares did the CEO acquire through RSU exercises?

He acquired 39,863 shares of common stock via exercises of restricted stock units. These RSUs convert into common shares on a one-for-one basis under the company’s 2020 Omnibus Incentive Plan and reflect scheduled time-based vesting.

Were any of the Academy Sports & Outdoors (ASO) CEO’s shares sold on the open market?

No open-market sales were reported. A total of 20,072 shares of common stock were disposed of under code F, meaning they were withheld by the company solely to cover tax liabilities from the RSU vesting events.

What tax-related transactions did the Academy Sports & Outdoors (ASO) CEO disclose?

He disclosed tax-withholding dispositions of 11,742 and 8,330 common shares at $53.54 and $53.33 per share, respectively. These shares were delivered to satisfy tax obligations tied to the restricted stock unit vesting events.

How many Academy Sports & Outdoors (ASO) shares does the CEO hold after these transactions?

Following the RSU exercises and tax-withholding dispositions, Lawrence Steven Paul directly holds 187,801 shares of Academy Sports & Outdoors common stock. This figure reflects his updated ownership position after all reported transactions.

What plan governs the restricted stock units reported by the Academy Sports & Outdoors (ASO) CEO?

The restricted stock units were granted under Academy Sports & Outdoors’ 2020 Omnibus Incentive Plan. Each unit represents a contingent right to receive one share of common stock, generally vesting in three equal installments subject to continued service.

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Accepted by SEC EDGAR 03/26/2026 - 07:22 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 TEXAS 77449

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

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	03/25/2026		M		23,319	A	(1)	191,329	D
Common Stock	03/25/2026		F		11,742	D	$53.54	179,587	D
Common Stock	03/26/2026		M		16,544	A	(1)	196,131	D
Common Stock	03/26/2026		F		8,330	D	$53.33	187,801	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)	(3)	03/26/2026		M			16,544	(4)	03/26/2034	Common Stock	16,544	$0	16,545	D
Restricted Stock Units(2)	(3)	03/25/2026		M			23,319	(5)	03/25/2035	Common Stock	23,319	$0	46,639	D

Explanation of Responses:

1. Restricted stock units convert into Issuer common stock, par value $0.01 per share ("Common Stock") on a one-for-one basis.

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

3. Each restricted stock unit represents a contingent right to receive one share of Common Stock.

4. On March 26, 2024, subject to the Reporting Person's continued service, the Reporting Person was granted 49,633 time-based restricted stock units that vest in three equal installments beginning on the first anniversary of the grant date.

5. On March 25, 2025, subject to the Reporting Person's continued service, the Reporting Person was granted 69,958 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	03/26/2026
	** 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)