Form 4: Academy Sports Director Converts RSUs, Sells Shares

Academy Sports & Outdoors Director Ken C. Hicks converted restricted stock units into common shares and subsequently sold a portion for tax obligations.

Summary

• Director Ken C. Hicks of Academy Sports & Outdoors, Inc. reported transactions involving the company's common stock.
• On August 30, 2025, 1,245 restricted stock units (RSUs) converted into common stock on a one-for-one basis.
• Following this, on September 2, 2025, Mr. Hicks disposed of 415 shares of common stock at a price of $53.55 per share, likely for tax withholding purposes related to the RSU vesting.
• After these transactions, Mr. Hicks beneficially owns 448,540 shares of common stock.
• The RSUs were granted under the company's 2020 Omnibus Incentive Plan.
• A prior grant of 63,760 performance-based restricted stock units (PRSUs) on March 30, 2022, saw 93.7% (59,713 PRSUs) certified as earned on March 1, 2023, due to performance criteria achievement for fiscal 2022.
• These earned PRSUs vest monthly over 48 months from January 30, 2022.
• The remaining 4,047 unearned PRSUs from that grant may vest based on Issuer stock price conditions as of January 30, 2026.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as the RSU vesting indicates performance criteria were met, although the share disposition is a neutral event for tax purposes.

Positives

• The vesting of 1,245 restricted stock units indicates the fulfillment of prior compensation agreements.
• The certification of 93.7% of performance criteria for 59,713 performance-based restricted stock units (PRSUs) for fiscal 2022 demonstrates strong company performance against set targets.

Negatives

• The disposition of 415 shares of common stock reduces the director's direct beneficial ownership, although this is a common practice for tax withholding upon RSU vesting.

Risks

• The vesting of the remaining 4,047 unearned performance-based restricted stock units (PRSUs) is contingent upon the achievement of certain Issuer stock price conditions as of January 30, 2026, introducing market-related uncertainty for their realization.

Future Outlook

The vesting of 4,047 unearned performance-based restricted stock units is contingent upon the achievement of specific Issuer stock price conditions as of January 30, 2026.

Industry Context

This Form 4 filing details a routine insider transaction, which is specific to the company and its director's compensation structure, rather than reflecting broader industry trends.

Stakeholder Impact

• Shareholders: A minor, routine change in a director's direct beneficial ownership, which is unlikely to have a significant impact on the broader shareholder base.

Next Steps

• Continued monthly vesting of the 59,713 earned performance-based restricted stock units (PRSUs) over 48 months from January 30, 2022.
• Potential vesting of the remaining 4,047 unearned PRSUs based on Issuer stock price conditions as of January 30, 2026.

Key Dates

Recommendation

This Form 4 reports a routine insider transaction involving the vesting of restricted stock units and a subsequent sale for tax purposes. Such transactions are generally pre-planned and do not reflect a change in the company's fundamental outlook or a director's confidence in the company, thus warranting a 'hold' recommendation based solely on this filing.

Keywords

ASO, Academy Sports & Outdoors, Ken C. Hicks, Form 4, Insider Transaction, RSU, Stock Sale, Director, Performance-Based Restricted Stock Units