LEDUC ROBERT F 4

What Happened
Robert F. Leduc, a director of AAR CORP (AIR), was granted 127 shares of phantom stock on 2026-05-29. The award is reported at $112.62 per share, for a total reported value of $14,303. The Form 4 classifies this transaction as an "A" (award/grant/acquisition) and it is a derivative award rather than an open‑market purchase.

Key Details

• Transaction date: 2026-05-29
• Transaction type/code: Award/Grant (A) — derivative (phantom stock)
• Shares granted: 127; Price/value per share: $112.62; Total reported value: $14,303
• Filing date: 2026-06-01 (reported on Form 4) — filing appears timely based on dates provided
• Shares owned following the transaction: Not specified in the filing
• Footnote: Award is under the Non-Employee Directors' Deferred Compensation Plan (see below). No 10b5-1 plan, tax withholding, or sale reported in this filing.

Context
The grant is in the form of phantom stock — each phantom share is the economic equivalent of one common share and becomes payable in cash or common stock at the director's election upon termination of service or on other dates specified by the plan. Such director awards are a routine form of non‑employee director compensation and do not by themselves indicate buying or selling intent in the market.