Melissa Ann Brown - Jun 28, 2023 Form 4 Insider Report for AeroVironment Inc (AVAV)

Role: VP, Gen. Counsel, Corp. Sec.
Signature: Colby Petersen, attorney-in-fact
Stock symbol: AVAV
Transactions as of: Jun 28, 2023
Transactions value $: -$24,435
Form type: 4
Date filed: 6/29/2023, 08:35 PM
Previous filing: Jul 13, 2022
Next filing: Jul 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVAV	Common Stock	Options Exercise	$0	+746	+6.5%	$0.00	12.2K	Jun 28, 2023	Direct	F1
transaction	AVAV	Common Stock	Tax liability	-$24.4K	-258	-2.11%	$94.71	12K	Jun 28, 2023	Direct	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AVAV	Performance Restricted Stock Awards	Options Exercise	$0	+2.15K		$0.00^*	0	Jun 28, 2023	Common Stock	2.15K	$0.00	Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Performance Restricted Stock Unit (PRSU) represents the contingent right to receive, following vesting, shares of the issuer's common stock. The resulting number of shares of the issuer's common stock acquired upon vesting of the PRSUs is contingent upon the achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three-year performance period beginning on May 1, 2020 and ending on April 30, 2023. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 200% of the target number of units, depending on performance.
F2	Unless earlier forfeited under the terms of the PRSU, each PRSU vests and converts into shares of the issuer's common stock upon certification by the Company's Compensation Committee of the achievement of the performance metrics of the PRSUs (the "Certification Date").
F3	Upon conversion of the PRSUs, the Reporting Person received 746 shares of common stock.
F4	Disposition made pursuant to a net settlement whereby shares of stock were tendered to satisfy tax withholding obligations arising in the conjunction with the vesting of previously issued Performance Restricted Stock Units.