Form 4: Academy Sports Director Reports Stock Transactions

Academy Sports & Outdoors Director Ken C. Hicks reported the exercise of restricted stock units and a subsequent sale of shares for tax obligations.

Summary

• Director Ken C. Hicks acquired 1,244 shares of common stock through the conversion of restricted stock units (RSUs) on December 30, 2025.
• Concurrently, 588 shares of common stock were disposed of at a price of $50.12 per share to cover tax withholding obligations related to the RSU conversion.
• Following these transactions, Ken C. Hicks beneficially owns 450,937 shares of Academy Sports & Outdoors, Inc. common stock.
• The restricted stock units convert into common stock on a one-for-one basis and were granted under the Company's 2020 Omnibus Incentive Plan.
• On March 30, 2022, 63,760 performance-based restricted stock units (PRSUs) were granted, with 59,713 PRSUs certified as earned on March 1, 2023, based on 93.7% achievement of fiscal 2022 performance criteria.
• The earned PRSUs vest monthly (1/48 per month) since January 30, 2022, subject to continued service.
• The remaining 4,047 unearned PRSUs may vest upon certification of certain Issuer stock price conditions as of January 30, 2026.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction involving the exercise of restricted stock units and a subsequent sale of shares to cover tax obligations, which is a common practice. It does not contain information that would significantly alter the company's outlook or financial health, thus maintaining a neutral sentiment.

Positives

• The director continues to hold a significant number of shares (450,937), indicating continued alignment with shareholder interests.
• A substantial portion of performance-based restricted stock units (93.7%) were certified as earned, reflecting strong performance against fiscal 2022 criteria.

Negatives

• A portion of shares (588) were sold, although this was for tax withholding purposes, which is a common practice.

Risks

• The vesting of the remaining 4,047 unearned performance-based restricted stock units is contingent on future Issuer stock price conditions as of January 30, 2026, introducing market risk for this portion of the compensation.

Future Outlook

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

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and does not provide information directly related to broader industry trends or competitive landscape. It reflects standard equity compensation practices for corporate directors.

Related Party Transactions

• The reported transactions involve a director of Academy Sports & Outdoors, Inc., which constitutes a related party dealing.

Stakeholder Impact

• Shareholders: Minimal direct impact, as this is a routine insider transaction for compensation and tax purposes, not indicative of a change in company fundamentals or strategy.
• Employees: No direct impact on employees is indicated by this filing.

Next Steps

• Continued monthly vesting of earned performance-based restricted stock units (PRSUs) for the reporting person.
• Potential vesting of the remaining 4,047 unearned PRSUs based on Issuer stock price conditions as of January 30, 2026.

Key Dates

Keywords

Academy Sports & Outdoors, ASO, Insider Trading, Form 4, Restricted Stock Units, Performance-Based RSUs, Director Stock Transactions, Equity Compensation, Stock Ownership