[Form 4] AeroVironment, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 overview: AeroVironment (AVAV) director Edward R. Muller reported the grant of 609 restricted shares of common stock on 06/27/2025 at an indicated value of $278.07 per share.

The award vests in three equal tranches on July 11, 2026 / 2027 / 2028. Following the grant, Muller’s beneficial ownership stands at:

• Direct: 3,000 shares (includes the new 609-share grant)
• Indirect – 1991 Family Trust: 47,400 shares
• Indirect – IRA: 810 shares

No derivative securities were reported, and there were no dispositions. The filing indicates that the acquisition is an equity compensation award rather than an open-market purchase, suggesting routine director compensation rather than a strategic insider buy.

Insights

Financial Analyst

TL;DR: Small routine equity grant; negligible impact on AVAV valuation.

The 609-share restricted stock award, worth roughly US$169k, represents less than 0.1% of AeroVironment’s outstanding shares and only modestly increases the director’s direct holdings. Because the shares vest over three years, near-term supply-demand dynamics remain unchanged. The absence of open-market buying signals limits the informational value, making the disclosure largely administrative. I classify this as not impactful for investors.

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^*

MULLER EDWARD R

(Last) (First) (Middle)

241 18TH STREET SOUTH

SUITE #650

(Street)

ARLINGTON VA 22202

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025

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	06/27/2025		A		609(1)	A	$278.07	3,000	D
Common Stock								47,400	I	See Footnote(2)
Common Stock								810	I	See Footnote(3)

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

Explanation of Responses:

1. Restricted Stock Awards vest in 3 equal installments on each of July 11, 2026, 2027 and 2028.

2. Shares are held by the Edward R. Muller and Patricia E. Bauer 1991 Family Trust, of which Mr. Muller is one of the trustees. Mr. Muller disclaims beneficial ownership of any securities in which he does not have a pecuniary interest.

3. Shares are held by the Edward R. Muller IRA of which Mr. Muller has sole power of disposition.

	Colby Petersen, attorney-in-fact	06/27/2025
	** 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

How many AVAV shares did Director Edward R. Muller acquire?

609 restricted shares were granted on 06/27/2025.

What was the grant price for the new AVAV shares?

The Form 4 lists an indicative price of $278.07 per share.

When do the newly granted AVAV shares vest?

They vest in three equal installments on July 11, 2026, 2027 and 2028.

What is Edward R. Muller’s total AVAV ownership after the transaction?

He holds 3,000 direct shares and 48,210 indirect shares (47,400 via trust, 810 via IRA).

Does this Form 4 indicate open-market insider buying of AVAV stock?

No. It reflects a restricted stock award, a form of routine equity compensation.