On Holding (NYSE: ONON) CEO exercises 23,829 options to boost stake

Rhea-AI Filing Summary

On Holding AG CEO Martin Hoffmann exercised stock options to acquire additional equity in the company. He exercised options on a total of 23,829 Class A Shares at an exercise price of $7.73 per share, increasing his direct holdings to 1,405,849 Class A Shares. These options were granted under the company’s Long Term Incentive Plan 2020 and had fully vested following the company’s initial public offering, with the exercise price paid in cash.

Insider Trade Summary

23,829 shares exercised/converted

Mixed 4 txns

Insider Hoffmann Martin

Role CEO

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	11,329	$0.00	--
Exercise	Stock Option (Right to Buy)	12,500	$0.00	--
Exercise	Class A Shares	11,329	$32.68	$370K
Exercise	Class A Shares	12,500	$32.725	$409K

Holdings After Transaction: Stock Option (Right to Buy) — 0 shares (Direct); Class A Shares — 1,393,349 shares (Direct)

Footnotes (1)

1. Options exercised on March 27, 2026. Shares settled on March 30, 2026. Exercise price in cash. Shares acquired upon exercise of stock option described in Table II. Stock Option granted under the Issuer's Long Term Incentive Plan 2020 (the "LTIP 2020"). All options granted under the LTIP 2020 met their full vesting requirements in connection with the Issuer's initial public offering in September 2021, which constituted an exit event. Outstanding awards under the LTIP 2020 are fully vested and exercisable. Vested options may be exercised until the seventh anniversary of the contractual granting date.

Key Figures

Options Exercised: 23,829 shares Exercise Price: $7.73 per share Shares After Transaction: 1,405,849 shares +2 more

5 metrics

Options Exercised 23,829 shares Total stock options exercised on March 27, 2026

Exercise Price <money>$7.73</money> per share Cash exercise price for the stock options

Shares After Transaction 1,405,849 shares Direct Class A Share holdings following exercises

First Grant Expiration <date>November 29, 2028</date> Expiration date for one option grant under LTIP 2020

Second Grant Expiration <date>December 6, 2029</date> Expiration date for another option grant under LTIP 2020

Key Terms

Stock Option (Right to Buy), Long Term Incentive Plan 2020, initial public offering, exercise or conversion of derivative security, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

Long Term Incentive Plan 2020 financial

"Stock Option granted under the Issuer's Long Term Incentive Plan 2020"

initial public offering financial

"met their full vesting requirements in connection with the Issuer's initial public offering"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

fully vested and exercisable financial

"Outstanding awards under the LTIP 2020 are fully vested and exercisable"

Form 4 Insider Transactions: What Each Field Means →

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^*

Hoffmann Martin

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

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	03/27/2026(1)		M(2)		11,329	A	$32.68	1,393,349	D
Class A Shares	03/27/2026(1)		M(2)		12,500	A	$32.725	1,405,849	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
Stock Option (Right to Buy)	$7.73	03/27/2026(1)		M			11,329	11/29/2021(3)	11/29/2028	Class A Shares	11,329	$0	0	D
Stock Option (Right to Buy)	$7.73	03/27/2026(1)		M			12,500	12/06/2022(3)	12/06/2029	Class A Shares	12,500	$0	198,554	D

Explanation of Responses:

1. Options exercised on March 27, 2026. Shares settled on March 30, 2026. Exercise price in cash.

2. Shares acquired upon exercise of stock option described in Table II.

3. Stock Option granted under the Issuer's Long Term Incentive Plan 2020 (the &quot;LTIP 2020&quot;). All options granted under the LTIP 2020 met their full vesting requirements in connection with the Issuer's initial public offering in September 2021, which constituted an exit event. Outstanding awards under the LTIP 2020 are fully vested and exercisable. Vested options may be exercised until the seventh anniversary of the contractual granting date.

	/s/ Zlatina Iliev, Attorney-in-Fact	03/31/2026
	** 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 transaction did On Holding (ONON) report for CEO Martin Hoffmann?

CEO Martin Hoffmann exercised stock options to acquire more On Holding Class A Shares. He exercised 23,829 options, converting them into 23,829 Class A Shares, increasing his direct ownership but without any reported share sales in this filing.

How many On Holding (ONON) shares does the CEO hold after this Form 4?

After the reported transactions, CEO Martin Hoffmann directly holds 1,405,849 Class A Shares. This reflects the addition of 23,829 shares acquired through option exercises, as disclosed in the Form 4 transaction tables for March 27, 2026.

At what price did the CEO exercise his On Holding (ONON) stock options?

The options were exercised at a cash exercise price of $7.73 per share. This strike price applied to all 23,829 stock options exercised under grants issued in 2021 and 2022 pursuant to the company’s Long Term Incentive Plan 2020.

Were any On Holding (ONON) shares sold in this Form 4 filing?

No share sales were reported in this Form 4. All disclosed transactions involve exercising stock options coded “M,” which indicate derivative exercises, resulting in the acquisition of Class A Shares without any corresponding sale transactions.

What plan governed the On Holding (ONON) options exercised by the CEO?

The exercised stock options were granted under On Holding’s Long Term Incentive Plan 2020. The filing notes these awards fully vested in connection with the company’s September 2021 initial public offering, and vested options remain exercisable until seven years after their grant dates.

When were the On Holding (ONON) options originally granted and when do they expire?

The exercised options were granted with contractual dates in November 2021 and December 2022. According to the filing, vested options under the Long Term Incentive Plan 2020 may be exercised until the seventh anniversary of each grant date, aligning with the listed 2028 and 2029 expiration dates.