AAON insider exercises options, sells 3,553 shares at $105.14

Rhea-AI Filing Summary

AAON, Inc. reported an insider transaction by a director on 11/12/2025. The reporting person exercised stock options for 2,786 shares at $36.13 and 767 shares at $31.69, then sold 2,786 shares and 767 shares at a weighted average $105.14.

The sale price reflected trades between $105.00 and $105.52. Following these transactions, the director held 26,340 shares directly. Additional holdings were 5,768 shares via a 401(k) Plan and 9,250 shares as custodian for grandchildren.

Insider Trade Summary

Net Seller: 3,553 shares ($373,562)

Net Sell 12 txns

Insider Fields Gary D

Role Director

Sold 3,553 shs ($374K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	767	$31.69	$24K
Exercise	Stock Option (Right to Buy)	2,786	$36.13	$101K
Exercise	Common Stock, par value $.004	2,786	$36.13	$101K
Sale	Common Stock, par value $.004	2,786	$105.14	$293K
Exercise	Common Stock, par value $.004	767	$31.69	$24K
Sale	Common Stock, par value $.004	767	$105.14	$81K
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Common Stock, par value $.004	--	--	--
holding	Common Stock, par value $.004	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 5,253 shares (Direct); Common Stock, par value $.004 — 29,126 shares (Direct); Common Stock, par value $.004 — 5,768 shares (Indirect, 401(k) Plan)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Fields Gary D

(Last) (First) (Middle)

2425 S. YUKON

(Street)

TULSA OK 74107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AAON, INC. [ AAON ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/12/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.004	11/12/2025		M		2,786	A	$36.13	29,126	D
Common Stock, par value $.004	11/12/2025		S		2,786	D	$105.14(1)	26,340	D
Common Stock, par value $.004	11/12/2025		M		767	A	$31.69	27,107	D
Common Stock, par value $.004	11/12/2025		S		767	D	$105.14(1)	26,340	D
Common Stock, par value $.004								5,768	I	401(k) Plan
Common Stock, par value $.004								9,250	I	Custodian for the benefit of his grandchildren

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$31.69	11/12/2025		M			767	05/12/2021	05/12/2030	Common Stock	767	$31.69	5,253	D
Stock Option (Right to Buy)	$48.91							03/11/2022	03/11/2031	Common Stock	47,191		47,191	D
Stock Option (Right to Buy)	$36.13	11/12/2025		M			2,786	03/15/2023	03/15/2032	Common Stock	2,786	$36.13	19,081	D
Stock Option (Right to Buy)	$62.03							03/06/2024	03/06/2033	Common Stock	31,968		31,968	D
Stock Option (Right to Buy)	$82.39							03/11/2026	03/11/2035	Common Stock	7,329		7,329	D
Stock Option (Right to Buy)	$79.73							03/11/2025	03/11/2034	Common Stock	22,338		22,338	D

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $105.00 to $105.52. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

	Gary D. Fields	11/13/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did AAON (AAON) disclose in this Form 4?

A director exercised options for 2,786 shares at $36.13 and 767 shares at $31.69, then sold the same 3,553 shares at a weighted average $105.14 on 11/12/2025.

How many AAON shares did the insider sell and at what price?

The insider sold 2,786 and 767 shares at a weighted average $105.14, with trade prices ranging from $105.00 to $105.52.

What is the insider’s AAON share ownership after the transactions?

Direct holdings were 26,340 shares after the reported transactions.

What indirect AAON holdings were reported?

Indirect holdings included 5,768 shares in a 401(k) Plan and 9,250 shares held as custodian for grandchildren.

What options were exercised in the AAON Form 4?

Options exercised covered 2,786 shares at $36.13 (grant 03/15/2023, expiring 03/15/2032) and 767 shares at $31.69 (grant 05/12/2021, expiring 05/12/2030).

What was the date of the earliest transaction reported for AAON?

The earliest transaction date disclosed was 11/12/2025.