Ken C. Hicks - Aug 30, 2023 Form 4 Insider Report for Academy Sports & Outdoors, Inc. (ASO)

Role: Director
Signature: /s/ Gary Holland, Attorney-in-fact
Stock symbol: ASO
Transactions as of: Aug 30, 2023
Transactions value $: -$62,270
Form type: 4
Date filed: 8/31/2023, 05:24 PM
Previous filing: Jul 31, 2023
Next filing: Oct 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ASO	Common Stock	Options Exercise		+1.24K	+0.26%		478K	Aug 30, 2023	Direct	F1
transaction	ASO	Common Stock	Tax liability	-$30.7K	-617	-0.13%	$49.77	477K	Aug 30, 2023	Direct
transaction	ASO	Common Stock	Options Exercise		+1.27K	+0.27%		478K	Aug 31, 2023	Direct	F1
transaction	ASO	Common Stock	Tax liability	-$31.6K	-632	-0.13%	$49.94	478K	Aug 31, 2023	Direct

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	ASO	Restricted Stock Units	Options Exercise	$0	-1.24K	-3.01%	$0.00	40.1K	Aug 30, 2023	Common Stock	1.24K		Direct	F1, F2, F3
transaction	ASO	Restricted Stock Units	Options Exercise	$0	-1.27K	-5.56%	$0.00	21.7K	Aug 31, 2023	Common Stock	1.27K		Direct	F1, F2, F4

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

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into common stock on a one-for-one basis.
F2	Granted under the Company's 2020 Omnibus Incentive Plan.
F3	On March 30, 2022, the Reporting Person was granted 63,760 performance-based restricted stock units ("PRSUs"). These PRSUs vest if certain performance criteria and/or Issuer stock price conditions are met and certified by the Issuer's compensation committee. On March 1, 2023, the Issuer's compensation committee certified achievement of 93.7% of the performance criteria during fiscal 2022 meaning that 59,713 PRSUs were deemed earned. Of this earned amount, 1/48 of the PRSUs earned will vest for every monthly anniversary since the Vesting Commencement Date (i.e., January 30, 2022), and thereafter, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date. The remaining unearned amount of this grant (i.e., 4,047 PRSUs) may vest upon certification by the Issuer's compensation committee of achievement of certain Issuer stock price conditions as of the fourth anniversary of the Vesting Commencement Date.
F4	On March 31, 2021, the Reporting Person was granted 61,133 PRSUs. These PRSUs vest if certain performance criteria and/or Issuer stock price conditions are met and certified by the Issuer's compensation committee. Following certification of 100% achievement of the performance criteria during fiscal 2021 by the Issuer's compensation committee on March 2, 2022, 1/48 of the total PRSUs granted will vest for every monthly anniversary since the Vesting Commencement Date (i.e., January 31, 2021), and thereafter on each monthly anniversary of the Vesting Commencement Date.