Lawrence Steven Paul 4

What Happened

• Lawrence Steven Paul, CEO and Director of Academy Sports & Outdoors (ASO), received large equity awards and settled a small RSU conversion. On March 20, 2026 he was granted 75,028 performance-based RSUs (PRSUs) and 75,028 time‑based RSUs (total 150,056 RSUs) under the company's omnibus plan. On March 23, 2026, 1,933 restricted stock units converted into common shares; 974 of those shares were withheld to satisfy tax withholding at $51.98 per share (total withholding value $50,629).

Key Details

• Grant dates: March 20, 2026 (75,028 PRSUs + 75,028 time‑based RSUs). Settlement/conversion date: March 23, 2026.
• Tax withholding: 974 shares withheld at $51.98/share = $50,629 (code F = payment of tax liability via share withholding).
• Conversion: 1,933 RSUs converted/settled (code M = exercise or conversion of derivative). The conversion itself recorded no cash purchase price.
• Awards: PRSUs (performance‑based) and time‑based RSUs granted under the 2020 Omnibus Incentive Plan (codes A). Each RSU converts to one share if/when vested.
• PRSU terms: Vesting depends on three preestablished performance metrics over a 3‑year period (Feb 1, 2026–Feb 3, 2029) and may payout 0%–200% of target, subject to continued service and committee certification.
• Shares owned after the transactions: not provided in the filing.

Context

• The March 20 entries are awards (not purchases); PRSUs are contingent on future performance and may pay nothing or up to 200% of target. Time‑based RSUs vest over three years. The March 23 entries reflect settlement of RSUs with a common practice of withholding shares to cover tax obligations (a non‑market sale for tax purposes). These filings are routine for executive equity compensation and do not by themselves indicate the insider’s view to buy or sell additional shares.