Lawrence Steven Paul 4

What Happened

• Lawrence Steven Paul, CEO and Director of Academy Sports & Outdoors (ASO), had restricted stock units convert into common stock (exercise/conversion of derivatives) and surrendered shares to cover tax and exercise obligations. On March 25–26, 2026 he acquired 39,863 shares via RSU conversion (23,319 on 3/25 and 16,544 on 3/26) and disposed of 20,072 shares to satisfy tax/price obligations (11,742 shares on 3/25 at $53.54 and 8,330 shares on 3/26 at $53.33) for total proceeds of approximately $1,072,906.

Key Details

• Transaction types: M = exercise/conversion of derivative (RSUs → common stock); F = shares transferred/surrendered to pay exercise price or tax withholding.
• Dates and prices:
  • 2026-03-25: Converted 23,319 RSUs (M); surrendered 11,742 shares @ $53.54 for $628,667 (F).
  • 2026-03-26: Converted 16,544 RSUs (M); surrendered 8,330 shares @ $53.33 for $444,239 (F).
• Total acquired via conversion: 39,863 shares. Total surrendered for taxes/exercise: 20,072 shares. Total value surrendered ≈ $1,072,906.
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.
• Footnotes: RSUs convert one-for-one into common stock (F1); awards granted under the 2020 Omnibus Incentive Plan (F2); RSUs are contingent rights to shares and include grants from 3/26/2024 (49,633 RSUs) and 3/25/2025 (69,958 RSUs) that vest in three equal annual installments (F3–F5).
• Filing timeliness: Form 4 filed 2026-03-26 reporting transactions on 3/25–3/26; no indication in the filing excerpt that this was late.

Context

• These transactions reflect RSU vesting and routine withholding/surrender of shares to cover taxes or exercise obligations, not an open-market sale or purchase. When RSUs vest, companies commonly withhold or accept surrendered shares to satisfy tax withholding rather than selling in the open market; this is generally administrative and not necessarily a market sentiment signal.