Form 4: AAON Inc. Executive Robert Teis Reports Stock Transactions
SEC Form 4 Filing
Robert Teis, VP of Business Technology at AAON, Inc., reports the vesting of performance restricted stock units and related tax withholding transactions.
Summary
- On January 28, 2025, Robert Teis, VP of Business Technology at AAON, Inc., reported transactions involving AAON's common stock.
- Performance restricted stock units granted on September 2, 2022, vested at 196% of the performance target.
- Mr. Teis acquired 2,769 shares at $111.77 due to the vesting of these units.
- 876 shares were disposed of at $111.77 to cover tax liabilities related to the vesting.
- Following these transactions, Mr. Teis directly owns 12,543 shares of AAON common stock.
- He also indirectly owns 2,152 shares through a 401(k) plan.
- Mr. Teis also holds multiple stock options with various exercise prices and expiration dates.
Sentiment
Score: 7
Explanation: The document indicates positive performance as the restricted stock units vested at almost double the performance target. The executive is maintaining a significant stake in the company.
Positives
- The vesting of performance restricted stock units at 196% suggests strong company performance relative to the set targets.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. The vesting of performance-based equity suggests the company is meeting its performance goals.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- Vesting schedules and performance targets are typically benchmarked against industry peers to ensure competitiveness and incentivize performance.
- Companies like Carrier Global, Trane Technologies, and Johnson Controls also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- Shareholders may view the vesting of performance-based equity as a positive sign of company performance.
- Employees may be motivated by the achievement of performance targets that lead to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/28/2019 | Date of stock options exercisable, expiring 02/28/2028, at a price of $24.5 |
| 03/11/2020 | Date of stock options exercisable, expiring 03/11/2029, at a price of $27.58 |
| 03/11/2021 | Date of stock options exercisable, expiring 03/11/2030, at a price of $29.48 |
| 03/11/2022 | Date of stock options exercisable, expiring 03/11/2031, at a price of $48.91 |
| 09/02/2022 | Date performance restricted stock units were granted. |
| 03/06/2024 | Date of stock options exercisable, expiring 03/06/2033, at a price of $62.03 |
| 01/28/2025 | Date of the reported transactions: vesting of restricted stock units and tax withholding. |
| 03/11/2025 | Date of stock options exercisable, expiring 03/11/2034, at a price of $79.73 |
| 01/29/2025 | Date of signature of the reporting person. |
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