Form 4: Academy Sports Director Reports Stock Transactions

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

Summary

• Ken C. Hicks, a Director at Academy Sports & Outdoors, Inc. (ASO), reported recent stock transactions.
• On November 30, 2025, 1,245 restricted stock units (RSUs) converted into common stock.
• Following this conversion, Mr. Hicks beneficially owned 451,097 shares of common stock.
• On December 1, 2025, Mr. Hicks disposed of 816 shares of common stock at a price of $48.25 per share, likely for tax withholding related to the RSU vesting.
• After these transactions, Mr. Hicks' direct beneficial ownership stands at 450,281 shares of common stock.
• The filing also details the vesting schedule of performance-based restricted stock units (PRSUs) granted on March 30, 2022.
• On March 1, 2023, 93.7% of the performance criteria for fiscal 2022 were certified, deeming 59,713 PRSUs earned.
• These earned PRSUs vest monthly over 48 months from January 30, 2022, subject to continued service.
• An additional 4,047 unearned PRSUs may vest based on stock price conditions as of January 30, 2026.
• Mr. Hicks still holds 6,536 derivative securities (RSUs) following these reported transactions.

Sentiment

Score: 6

Explanation: The filing indicates the vesting of restricted stock units, including performance-based units due to certified performance criteria achievement, which is a positive sign. The subsequent sale of shares is a routine transaction, likely for tax withholding, and does not significantly alter the overall sentiment.

Positives

• Vesting of 1,245 restricted stock units indicates achievement of performance or time-based criteria.
• The director maintains a significant beneficial ownership of 450,281 shares, aligning his interests with shareholders.
• Certification of 93.7% achievement for performance-based restricted stock units (PRSUs) for fiscal 2022 demonstrates strong company performance against set targets.

Negatives

• The disposition of 816 shares, even if for tax purposes, slightly reduces the director's direct ownership.

Future Outlook

The remaining 4,047 unearned performance-based restricted stock units (PRSUs) may vest upon certification of certain Issuer stock price conditions as of January 30, 2026.

Industry Context

NA

Stakeholder Impact

• Shareholders: Minor impact as the transaction is routine and the director maintains significant ownership, aligning interests.
• Employees: The vesting of performance-based units could be seen as a positive indicator of company performance, potentially boosting morale.

Next Steps

• Continued monthly vesting of earned performance-based restricted stock units (PRSUs) from January 30, 2022.
• Potential certification and vesting of 4,047 unearned PRSUs based on stock price conditions as of January 30, 2026.

Key Dates

Recommendation

This Form 4 reports routine insider transactions involving the vesting of restricted stock units and a subsequent sale of shares, likely for tax purposes. Such transactions are common and generally do not indicate a change in the company's fundamental outlook or warrant a shift in investment strategy. The director maintains a substantial stake, which is a positive for alignment with shareholder interests. Therefore, a 'hold' recommendation is appropriate as this filing alone does not present new information to alter an existing investment thesis.

Keywords

ASO, Academy Sports, Ken C. Hicks, Form 4, Insider Trading, Stock Transaction, RSU, Restricted Stock Units, Director