PAGE STEPHEN F 4

What Happened
Stephen F. Page, a director of AeroVironment, sold 248 shares of AVAV on July 15, 2026 at $143.00 per share, for a total of $35,464. The disposal was a sale (code S) executed under a prearranged trading plan.

Key Details

• Transaction date and price: 2026-07-15 — 248 shares at $143.00 each.
• Total proceeds: $35,464.
• Transaction mechanism: Open market/private sale effected pursuant to a Rule 10b5-1 trading plan adopted by the Stephen F. Page Living Trust on September 30, 2025 (Footnote F1).
• Shares held: Shares are held by the Stephen F. Page Living Trust; Mr. Page is trustee and disclaims beneficial ownership of securities in which he has no pecuniary interest (Footnote F2). The filing does not specify shares owned after the transaction.
• Filing timeliness: Report filed 2026-07-16 for a 2026-07-15 transaction — appears timely.

Context
This was a sale executed under a 10b5-1 plan, which is a prearranged trading arrangement; such sales are often routine and do not, by themselves, indicate the insider's current view of the company. Retail investors typically weigh purchases more heavily than routine, plan-driven sales when interpreting insider activity.