Fields Gary D 4

What Happened

• Gary D. Fields, a director of AAON, exercised 19,081 option-derived shares (code M) at an exercise price of $36.13 per share (exercise cost $689,397) on May 13, 2026. He then sold the 19,081 shares in the open market the same day (code S) at a weighted average sale price of $137.60 per share for total gross proceeds of $2,625,546. The filing shows the shares acquired by exercise were the same shares disposed (cashless-like transaction).

Key Details

• Transaction date: May 13, 2026; Form 4 filed May 14, 2026 (filed within the normal reporting window).
• Exercise: 19,081 shares @ $36.13 = $689,397 (acquired via option exercise, code M).
• Sale: 19,081 shares @ weighted avg $137.60 = $2,625,546 (disposed, code S).
• Footnote: The sale executed in multiple trades at prices ranging $134.02–$139.24; $137.60 is the weighted average. The reporting person will provide trade-level details on request (footnote F1).
• Shares owned after the transaction: not specified in the provided filing.
• No indication in the report of a 10b5-1 plan, gift, or tax-withholding shares; transaction types were exercise (M) and sale (S).

Context

• This is an option exercise immediately followed by a sale of the same shares (a common cashless exercise pattern): the director exercised options (paid the exercise cost) and sold the resulting shares the same day, realizing gross proceeds of ~$2.63M.
• Sales by insiders are often routine (liquidity or option-related); filings are factual and do not by themselves indicate the insider’s view of the company’s prospects.