On Holding (NYSE: ONON) director logs RSU grant and tax share withholding

Rhea-AI Filing Summary

On Holding AG director Laura Miele reported routine equity compensation activity involving Class A Shares. On March 24, 2026, she received a grant of 1,689 restricted stock units that vested immediately into Class A Shares. On March 26, 2026, 423 shares were withheld at her election to cover tax obligations related to this vesting, a non-discretionary tax-withholding disposition rather than a market sale. Following these transactions, she directly holds 7,594 Class A Shares.

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

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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)
03/24/2026

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	03/24/2026		A		1,689	A	(1)	8,017	D
Class A Shares	03/26/2026		F		423(2)	D	$35.16	7,594	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 March 24, 2026, the Reporting Person was granted 1,689 restricted stock units, which vested into Class A Shares immediately after the grant.

2. The shares are withheld at the election of the Reporting Person to satisfy tax withholding obligations in connection with the release of shares underlying restricted stock units. This transaction does not represent a discretionary trade by the Reporting Person.

	/s/ Zlatina Iliev, 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)

FAQ

What insider transactions did On Holding (ONON) director Laura Miele report?

Laura Miele reported a stock award and related tax withholding. She received 1,689 restricted stock units that vested into Class A Shares, and 423 shares were withheld to satisfy tax obligations tied to that vesting.

Did Laura Miele buy or sell On Holding (ONON) shares on the open market?

She did not report any open-market buys or sells. The filing shows a stock award and a tax-withholding disposition, where 423 shares were withheld to pay taxes, which is not a discretionary market trade.

How many On Holding (ONON) shares did Laura Miele receive in the latest grant?

She received 1,689 restricted stock units that immediately vested into Class A Shares. This grant increased her direct equity exposure to the company as part of her compensation as a director of On Holding AG.

Why were 423 On Holding (ONON) shares disposed of in Laura Miele’s filing?

The 423 shares were withheld to cover tax obligations on the release of shares from restricted stock units. The filing notes this was at her election and explicitly states it does not represent a discretionary trade in the open market.

How many On Holding (ONON) Class A Shares does Laura Miele hold after these transactions?

After the reported grant and tax-withholding disposition, Laura Miele directly holds 7,594 Class A Shares. This figure reflects her updated ownership position following the immediate vesting of restricted stock units and the related tax share withholding.

What do the transaction codes A and F mean in the On Holding (ONON) Form 4?

Code A indicates a grant or award acquisition of shares, here 1,689 restricted stock units vesting into Class A Shares. Code F indicates shares withheld, in this case 423, to satisfy tax liabilities related to that equity award vesting.