Casey Kidwell, Chief Administration Officer at AAON, INC. (NASDAQ:AAON), completed a series of equity transactions on March 12, 2026, including the sale of 5,225 shares of common stock at $90 per share, yielding proceeds of $470,250.
In addition to the open-market sale, Kidwell exercised stock options to acquire 5,225 AAON shares. The option exercises occurred at strike prices ranging from $35.41 to $62.04 and had a combined exercise cost of $261,765. As part of the tax settlement tied to those option exercises, Kidwell sold 180 shares at $91.51 each, generating $16,471 to cover tax obligations.
After these transactions, Kidwell directly holds 12,482 AAON shares and indirectly holds 2,208 shares through participation in a 401(k) plan.
At the time of the filings, AAON shares were trading at $81.56, down nearly 10% over the prior week, according to InvestingPro data. InvestingPro’s Fair Value assessment indicates AAON appears slightly undervalued, while the stock trades at a price-to-earnings ratio of 63.72.
The insider activity follows AAON’s fourth-quarter 2025 financial disclosure, which showed mixed results. Diluted earnings per share came in at $0.39, below the consensus forecast of $0.45 - a negative surprise of 13.33%. Conversely, revenue for the quarter was $424.2 million versus an anticipated $378.08 million, a positive surprise of 12.2%.
Market participants and analysts reacted to the quarterly figures. Oppenheimer raised its price target on AAON to $118 from $115 while maintaining an Outperform rating. William Blair also maintained an Outperform rating, citing a strong increase in order backlog and robust sales in certain product lines.
Separately, AAON’s board declared a quarterly dividend of $0.10 per share, payable March 30, 2026, equivalent to an annualized dividend of $0.40 per share.
These items - insider option exercises and a substantial sale, mixed quarterly results with revenue strength and an EPS shortfall, continued analyst endorsement, and a declared dividend - together frame the current investor and analyst view of AAON as the company navigates recent share price weakness.
Summary
Kidwell sold 5,225 AAON shares for $470,250 and exercised options for 5,225 shares at aggregate exercise prices totaling $261,765. A small sell-to-cover generated $16,471. Post transactions Kidwell owns 12,482 shares directly and 2,208 indirectly. AAON reported Q4 2025 EPS of $0.39 (below forecasts) and revenue of $424.2 million (above forecasts). Analysts from Oppenheimer and William Blair maintained favorable ratings, and the board declared a $0.10 quarterly dividend.
Key details and context are provided above for investors considering AAON’s recent filings and results.