RAFF BERYL 4

What Happened

• Beryl Raff, a director of Academy Sports & Outdoors, had 3,932 time‑based restricted stock units (RSUs) convert into 3,932 shares of common stock on June 3, 2026 (reported as a derivative conversion, transaction code M). The filing also shows a simultaneous disposition of 3,932 shares at $0.00 (derivative disposal).
• The conversion represents the vesting/settlement of the RSU award; the filing does not show cash proceeds from a sale or purchase.

Key Details

• Transaction date: 2026-06-03 (Form 4 filed same day).
• Acquired: 3,932 shares via conversion of RSUs (price N/A).
• Disposed: 3,932 shares at $0.00 (derivative).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 — RSUs convert one-for-one into common stock. F2 — Award granted under the 2020 Omnibus Incentive Plan. F3 — These 3,932 time‑based RSUs were granted on June 13, 2025 and vest 100% on the earlier of the first anniversary of grant (or the business day before the next annual meeting), death/disability, or a change in control.
• Timeliness: Filing appears timely (transaction and report dated the same day).

Context

• The derivative conversion here reflects RSU vesting/settlement rather than an open‑market purchase or a cash sale. The zero‑dollar disposition is commonly used when shares are withheld or transferred to satisfy tax withholding or other obligations; the filing itself does not explicitly state the reason.
• For retail investors: conversions of RSUs into shares are routine compensation events for insiders and do not by themselves indicate a buy or sell decision.