LEDUC ROBERT F 4

What Happened

• Robert F. Leduc, a director of AAR CORP (AIR), was granted 121 shares of phantom stock on 2026-02-27. The award is recorded at $117.17 per share for a notional value of $14,178. This was an award/derivative grant (code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-02-27
• Instrument and amount: 121 phantom shares (derivative grant) @ $117.17 per share; total notional value $14,178
• Filing date: 2026-03-02 (filing appears timely)
• Shares owned after transaction: Not specified in the filing
• Footnote: Each phantom share is the economic equivalent of one common share and becomes payable in cash or common stock upon the director’s termination of service or on other specified dates under the Non‑Employee Directors' Deferred Compensation Plan.

Context

• This was a compensation-related derivative award (phantom stock), which provides economic exposure to the stock’s value but is not an immediate purchase of common shares. Such grants are routine for non-employee directors and do not by themselves indicate the director is buying or selling company stock.