Who actually executed the AeroVironment (AVAV) share sale reported for Stephen F. Page?

The shares were held and sold by the Stephen F. Page Living Trust, of which Mr. Page is trustee. The filing notes he disclaims beneficial ownership of securities in which he does not have a pecuniary interest, clarifying the trust’s role in the transaction.

AeroVironment (AVAV) director’s trust sells 250 shares under Rule 10b5-1 plan

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

AeroVironment Inc director Stephen F. Page reported an open-market sale of common stock executed by the Stephen F. Page Living Trust under a pre-arranged Rule 10b5-1 trading plan. The trust sold 250 shares at $162.31 per share and held 49,251 shares indirectly after the transaction, while Page also held 1,705 shares directly.

Insider Trade Summary 10b5-1

Net Seller: 250 shares ($40,578)

Net Sell 2 txns

Insider PAGE STEPHEN F

Role null

Sold 250 shs ($41K)

Type	Security	Shares	Price	Value
Sale	Common Stock	250	$162.31	$41K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 49,251 shares (Indirect, See Footnote); Common Stock — 1,705 shares (Direct, null)

Footnotes (1)

The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Stephen F. Page Living Trust, on September 30, 2025. Shares are held by the Stephen F. Page Living Trust, of which Mr. Page is the trustee. Mr. Page disclaims beneficial ownership of any securities in which he does not have a pecuniary interest.

Key Figures

Shares sold: 250 shares Sale price: $162.31 per share Indirect holdings after: 49,251 shares +1 more

4 metrics

Shares sold 250 shares Open-market sale on May 15, 2026

Sale price $162.31 per share Price for the 250 shares sold

Indirect holdings after 49,251 shares Held by Stephen F. Page Living Trust after sale

Direct holdings after 1,705 shares Directly held by Stephen F. Page after reported transactions

Key Terms

Rule 10b5-1 trading plan, Stephen F. Page Living Trust, open-market sale, beneficial ownership

4 terms

Rule 10b5-1 trading plan regulatory

"The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Stephen F. Page Living Trust"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Stephen F. Page Living Trust financial

"Shares are held by the Stephen F. Page Living Trust, of which Mr. Page is the trustee"

open-market sale financial

"transaction_action": "open-market sale""

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.

beneficial ownership financial

"Mr. Page disclaims beneficial ownership of any securities in which he does not have a pecuniary interest"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Form 4 Insider Transactions: What Each Field Means →

05/18/2026 - 02:41 PM

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^*

PAGE STEPHEN F

(Last)

(First)

(Middle)

241 18TH STREET SOUTH

SUITE #650

(Street)

ARLINGTON

VIRGINIA

22202

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
AeroVironment Inc [ AVAV ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								1,705	D
Common Stock	05/15/2026		S⁽¹⁾		250	D	$162.31	49,251	I	See Footnote⁽²⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Stephen F. Page Living Trust, on September 30, 2025.

2. Shares are held by the Stephen F. Page Living Trust, of which Mr. Page is the trustee. Mr. Page disclaims beneficial ownership of any securities in which he does not have a pecuniary interest.

	Colby Petersen, attorney-in-fact	05/18/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did AeroVironment (AVAV) report for Stephen F. Page?

AeroVironment director Stephen F. Page reported an open-market sale of 250 shares of common stock at $162.31 per share. The transaction was executed by the Stephen F. Page Living Trust under a pre-arranged Rule 10b5-1 trading plan.

How many AeroVironment (AVAV) shares does the Stephen F. Page Living Trust hold after the sale?

After selling 250 shares, the Stephen F. Page Living Trust held 49,251 AeroVironment common shares indirectly. This reflects the trust’s remaining position following the reported open-market transaction on May 15, 2026 under its Rule 10b5-1 trading plan.

Does Stephen F. Page hold AeroVironment (AVAV) shares directly after this Form 4 filing?

Yes. Following the reported transactions, Stephen F. Page held 1,705 AeroVironment common shares directly. This direct holding is separate from the 49,251 shares held indirectly through the Stephen F. Page Living Trust identified in the filing.

Was the AeroVironment (AVAV) insider sale by Stephen F. Page pre-planned?

Yes. The filing states the transaction was effected under a Rule 10b5-1 trading plan adopted by the Stephen F. Page Living Trust on September 30, 2025. Such plans pre-schedule trades to reduce discretionary timing decisions by insiders.