On Holding director acquires 2,433 shares

A director's restricted stock units vested immediately into shares, with 11,329 Class A shares reported as the resulting direct position.

Rhea-AI Filing Summary

On Holding AG (symbol: ONON) is the issuer of record for a Form 4 filing submitted to the SEC. On Holding AG director Laura Miele acquired 2,433 Class A shares on September 21, 2026, through restricted stock units that vested into shares immediately after the grant. Her directly held position following the transaction was 11,329 Class A shares. The Rule 10b5-1 transaction-plan box was unchecked.

Insider Trade Summary

Grant/Award: 2,433 shares

Grant/Award 1 txn

Insider Miele Laura

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Shares F1	2,433	--	--

Holdings After Transaction: Class A Shares — 11,329 shares (Direct)

Footnotes (1)

1. F1. On September 21, 2026, the Reporting Person was granted 2,433 restricted stock units, which vested into Class A Shares immediately after the grant.

Key Figures

Class A shares acquired: 2,433 shares Restricted stock units granted: 2,433 units Direct Class A shares following transaction: 11,329 shares

3 metrics

Class A shares acquired 2,433 shares September 21, 2026

Restricted stock units granted 2,433 units Vested into Class A shares immediately after the grant

Direct Class A shares following transaction 11,329 shares Laura Miele's reported position after the transaction

Key Terms

restricted stock units, Class A Shares, Rule 10b5-1

3 terms

restricted stock units financial

"granted 2,433 restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Class A Shares financial

"vested into Class A Shares immediately after the grant"

Class A shares are one of a company’s distinct types of stock that come with a specific set of rights—commonly different voting power, dividend treatment, or transfer rules—defined in the company’s charter. Investors care because those rights affect control, income and resale value; like holding a seat at a table that has different rules or stronger chips than other seats, owning Class A changes how much influence and return you can expect.

Rule 10b5-1 regulatory

"Rule 10b5-1 transaction-plan box was unchecked"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

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

What did ONON director Laura Miele acquire?

Laura Miele acquired 2,433 Class A shares through a grant of 2,433 restricted stock units that vested immediately after the grant.

When did the ONON share grant occur?

The grant occurred on September 21, 2026, and the restricted stock units vested into Class A shares immediately afterward.

How many ONON shares did Laura Miele hold after the transaction?

Her reported direct position following the transaction was 11,329 Class A shares.

Was Laura Miele's ONON transaction reported under a Rule 10b5-1 plan?

No. The Rule 10b5-1 transaction-plan box was unchecked.

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

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Available on EDGAR 09/23/2026 - 08:29 AM Accepted by SEC EDGAR 09/23/2026 - 08:28 AM 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^*

Miele Laura

(Last) (First) (Middle)

C/O ON HOLDING AG

FORRLIBUCKSTRASSE 190

(Street)

ZURICH 8005

(City) (State) (Zip)

SWITZERLAND

(Country)

2. Issuer Name and Ticker or Trading Symbol
On Holding AG [ ONON ]

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)
09/21/2026

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
Class A Shares	09/21/2026		A		2,433	A	(1)	11,329	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

Explanation of Responses:

1. On September 21, 2026, the Reporting Person was granted 2,433 restricted stock units, which vested into Class A Shares immediately after the grant.

	/s/ Zlatina Iliev, Attorney-in-Fact	09/23/2026
	** 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)