Form 4: Academy Sports & Outdoors Director Converts Restricted Stock Units to Common Shares

Jeffrey C. Tweedy, a Director at Academy Sports & Outdoors, Inc. (ASO), reported the conversion of 2,929 Restricted Stock Units (RSUs) into common stock, increasing his direct beneficial ownership.

Summary

• Jeffrey C. Tweedy, a Director of Academy Sports & Outdoors, Inc. (ASO), reported a transaction on June 4, 2025, involving the conversion of derivative securities.
• Specifically, 2,929 Restricted Stock Units (RSUs) were converted into 2,929 shares of common stock on a one-for-one basis.
• These RSUs were originally granted to Mr. Tweedy on June 14, 2024, under the Company's 2020 Omnibus Incentive Plan, as amended.
• The vesting of these RSUs was subject to Mr. Tweedy's continued services with the Issuer, vesting 100% on the earliest of: the first anniversary of the grant date (June 14, 2025) or the business day immediately preceding the next Annual Meeting of Stockholders, termination due to death or Disability, or a Change in Control.
• Following this transaction, Mr. Tweedy directly beneficially owns 11,835 shares of Academy Sports & Outdoors, Inc. common stock, and holds 0 Restricted Stock Units.

Sentiment

Score: 7

Explanation: The conversion of Restricted Stock Units into common stock for a director is a positive event as it increases their direct equity ownership, further aligning their interests with those of shareholders. It reflects the execution of a pre-existing, standard compensation plan.

Positives

• The conversion of Restricted Stock Units into common stock increases the director's direct equity ownership, further aligning his interests with those of the company's shareholders.
• The transaction is part of a pre-existing, structured incentive plan (2020 Omnibus Incentive Plan), indicating adherence to established compensation frameworks.

Negatives

• The issuance of new shares from RSU conversion could result in minor dilution for existing shareholders, though this is a standard aspect of equity compensation plans.

Risks

• The vesting of the RSUs was contingent on specific conditions such as continued service, death or disability, or a change in control, which means the director faced a risk of forfeiture if these conditions were not met prior to vesting.

Future Outlook

The document primarily details a past equity transaction and does not provide forward-looking statements regarding the company's financial performance or strategic outlook, beyond the vesting conditions for the granted RSUs.

Industry Context

This SEC Form 4 filing is specific to an individual director's equity compensation and does not provide information relevant to broader industry trends or competitive dynamics within the sporting goods and outdoor retail sector.

Corporate Governance

Related Party Transactions

• The transaction involves the grant and conversion of equity compensation to a director, which is a form of related party transaction (insider compensation) that is standard practice and disclosed as required by SEC regulations.

Stakeholder Impact

• Shareholders: The transaction aligns the director's interests more closely with shareholders through increased equity ownership, though it involves minor potential dilution if new shares are issued.
• Director (Jeffrey C. Tweedy): Benefits from increased direct equity ownership in the company as part of his compensation.

Next Steps

• Jeffrey C. Tweedy will continue to beneficially own 11,835 shares of Academy Sports & Outdoors, Inc. common stock.
• Any future vesting events for other outstanding equity awards held by the director would be reported in subsequent filings.

Key Dates

Keywords

Academy Sports & Outdoors, ASO, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU conversion, Director compensation, Equity ownership, Stock options, Incentive plan