AAON, INC.: management transactions · United States · SEC (Form 4)

About AAON, INC.

AAON, Inc. is a U.S.-based industrial company focused on premium HVAC (heating, ventilation, and air conditioning) solutions for commercial and industrial indoor environments. The company is listed on the NASDAQ market in the United States and serves customers that value highly configurable, engineered equipment rather than fully commoditized standard products. Founded in 1988, AAON built its franchise around product customization, energy efficiency, and performance validation, which has helped it establish a differentiated position in the commercial HVAC market over time. AAON operates through three reportable segments: AAON Oklahoma, AAON Coil Products, and BASX. AAON Oklahoma designs, manufactures, and sells highly configurable HVAC systems, control solutions, and aftermarket parts through retail part stores and online channels. AAON Coil Products manufactures semi-custom and custom HVAC systems as well as heating and cooling coils. BASX is the company’s more specialized platform, serving demanding end markets such as data center cooling, cleanroom applications, and air-handling systems. This multi-segment structure gives AAON exposure to both mainstream HVAC demand and faster-growing technical applications. The company is headquartered in Tulsa, Oklahoma, with manufacturing and operational facilities primarily located in Oklahoma, Tennessee, Texas, Missouri, and Oregon. AAON also emphasizes its innovation infrastructure, including the Norman Asbjornson Innovation Center, where equipment is tested and validated. That engineering-led model is central to the company’s competitive positioning: AAON seeks to win business by combining product flexibility, reliability, and energy performance, especially in applications where uptime and long-term operating costs matter. From a market perspective, AAON competes as a higher-end HVAC manufacturer with a strong brand, a long operating history, and a broad industrial footprint in the United States. Its products are aimed at customers looking for tailored solutions, often in commercial buildings, industrial facilities, and data-center-related projects. The company’s value proposition is reinforced by its focus on sustainability, non-fossil-fuel-consuming products, and continuous product development. Recent developments are important for investors. In its 2025 and early 2026 reporting, AAON highlighted strong sales growth, record backlog, and improving production throughput, driven especially by BASX-branded demand and data center cooling. The company also noted substantial investments in capacity expansion, ERP implementation, and working capital. Those initiatives have created near-term margin pressure, but management has framed them as strategic investments to support future growth and operating leverage. For French-speaking investors, AAON stands out as a U.S. industrial HVAC manufacturer with both cyclical exposure and structural growth drivers tied to energy efficiency and digital infrastructure.