AVAV · AeroVironment Inc

The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Shackley on September 30, 2025.

The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Stephen F. Page Living Trust, on September 30, 2025.

Shares are held by the Stephen F. Page Living Trust, of which Mr. Page is the trustee. Mr. Page disclaims beneficial ownership of any securities in which he does not have a pecuniary interest.

The transaction is a transfer of direct ownership of 996 shares of Common Stock, for no consideration, to the Edward R. Muller and Patricia E. Bauer 1991 Family Trust.

The transaction is the receipt of 996 shares of Common Stock, for no consideration, in the transfer referenced in Footnote 1.

Shares are held by the Edward R. Muller and Patricia E. Bauer 1991 Family Trust, of which Mr. Muller is one of the trustees. Mr. Muller disclaims beneficial ownership of any securities in which he does not have a pecuniary interest.

Disposition made pursuant to a net settlement whereby shares of stock were tendered to satisfy tax withholding obligations arising in conjunction with the vesting of previously issued Restricted Stock Awards.

Disposition made pursuant to a net settlement whereby shares of stock were tendered to satisfy tax withholding obligations arising in conjunction with the vesting of previously issued Restricted Stock Awards.

Disposition made pursuant to a net settlement whereby shares of stock were tendered to satisfy tax withholding obligations arising in conjunction with the vesting of previously issued Restricted Stock Awards.

Disposition made pursuant to a net settlement whereby shares of stock were tendered to satisfy tax withholding obligations arising in conjunction with the vesting of previously issued Restricted Stock Awards.

Disposition made pursuant to a net settlement whereby shares of stock were tendered to satisfy tax withholding obligations arising in conjunction with the vesting of previously issued Restricted Stock Awards.

Disposition made pursuant to a net settlement whereby shares of stock were tendered to satisfy tax withholding obligations arising in conjunction with the vesting of previously issued Restricted Stock Awards.

Represents a grant of restricted shares of Common Stock that will vest in full on July 11, 2027, subject to the Reporting Person's continued service to the Issuer through such date. If the Reporting Person's service terminates prior to the vesting date, a prorated portion of the grant will vest immediately upon such termination. These shares are subject to Mr. Muller's deferred compensation plan.

Represents a grant of restricted shares of Common Stock that will vest in full on July 11, 2027, subject to the Reporting Person's continued service to the Issuer through such date. If the Reporting Person's service terminates prior to the vesting date, a prorated portion of the grant will vest immediately upon such termination.

Represents a grant of restricted shares of Common Stock that will vest in full on July 11, 2027, subject to the Reporting Person's continued service to the Issuer through such date. If the Reporting Person's service terminates prior to the vesting date, a prorated portion of the grant will vest immediately upon such termination.

Restricted Stock Awards vest in 3 equal installments on each of July 11, 2027, 2028 and 2029.

Represents a grant of restricted shares of Common Stock that will vest in full on July 11, 2027, subject to the Reporting Person's continued service to the Issuer through such date. If the Reporting Person's service terminates prior to the vesting date, a prorated portion of the grant will vest immediately upon such termination.

Represents a grant of restricted shares of Common Stock that will vest in full on July 11, 2027, subject to the Reporting Person's continued service to the Issuer through such date. If the Reporting Person's service terminates prior to the vesting date, a prorated portion of the grant will vest immediately upon such termination.

Represents a special grant of restricted shares of Common Stock awarded as compensation for additional director services performed during the prior fiscal year. The shares vest in full on July 11, 2027, subject to continued service; provided that upon the Reporting Person's termination of services, a prorated portion of the grant will vest immediately upon termination of services. These shares are subject to Mr. Muller's deferred compensation plan.

Represents a special grant of restricted shares of Common Stock awarded as compensation for additional director services performed during the prior fiscal year. The shares vest in full on July 11, 2027, subject to continued service; provided that upon the Reporting Person's termination of services, a prorated portion of the grant will vest immediately upon termination of services.

Represents a grant of restricted shares of Common Stock that will vest in full on July 11, 2027, subject to the Reporting Person's continued service to the Issuer through such date. If the Reporting Person's service terminates prior to the vesting date, a prorated portion of the grant will vest immediately upon such termination.

Restricted Stock Awards vest in 3 equal installments on each of July 11, 2027, 2028 and 2029

Represents a special grant of restricted shares of Common Stock awarded as compensation for additional director services performed during the prior fiscal year. The shares vest in full on July 11, 2027, subject to continued service; provided that upon the Reporting Person's termination of services, a prorated portion of the grant will vest immediately upon termination of services.

Represents a grant of restricted shares of Common Stock that will vest in full on July 11, 2027, subject to the Reporting Person's continued service to the Issuer through such date. If the Reporting Person's service terminates prior to the vesting date, a prorated portion of the grant will vest immediately upon such termination.

Represents a grant of restricted shares of Common Stock that will vest in full on July 11, 2027, subject to the Reporting Person's continued service to the Issuer through such date. If the Reporting Person's service terminates prior to the vesting date, a prorated portion of the grant will vest immediately upon such termination.

Restricted Stock Awards vest in 3 equal installments on each of July 11, 2027, 2028 and 2029.

Restricted Stock Awards vest in 3 equal installments on each of July 11, 2027, 2028 and 2029.

Restricted Stock Awards vest in 3 equal installments on each of July 11, 2027, 2028 and 2029.

Represents a special grant of restricted shares of Common Stock awarded as compensation for additional director services performed during the prior fiscal year. The shares vest in full on July 11, 2027, subject to continued service; provided that upon the Reporting Person's termination of services, a prorated portion of the grant will vest immediately upon termination of services.

Represents a special grant of restricted shares of Common Stock awarded as compensation for additional director services performed during the prior fiscal year. The shares vest in full on July 11, 2027, subject to continued service; provided that upon the Reporting Person's termination of services, a prorated portion of the grant will vest immediately upon termination of services.

Represents a special grant of restricted shares of Common Stock awarded as compensation for additional director services performed during the prior fiscal year. The shares vest in full on July 11, 2027, subject to continued service; provided that upon the Reporting Person's termination of services, a prorated portion of the grant will vest immediately upon termination of services.

Restricted Stock Awards vest in 3 equal installments on each of July 11, 2027, 2028 and 2029.

Represents a special grant of restricted shares of Common Stock awarded as compensation for additional director services performed during the prior fiscal year. The shares vest in full on July 11, 2027, subject to continued service; provided that upon the Reporting Person's termination of services, a prorated portion of the grant will vest immediately upon termination of services.

These shares were acquired under the AeroVironment, Inc. 2023 Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

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.

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.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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").

Upon conversion of the PRSUs, the Reporting Person received 4,765 shares of common stock.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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").

Upon conversion of the PRSUs, the Reporting Person received 2,382 shares of common stock.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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").

Upon conversion of the PRSUs, the Reporting Person received 2,382 shares of common stock.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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").

Upon conversion of the PRSUs, the Reporting Person received 9,175 shares of common stock.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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.

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.

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, 2023 and ending on April 30, 2026. The target number of units subject to the award is presented in the table. The number of units that vest may be 0% to 250% of the target number of units, depending on performance.

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").

Upon conversion of the PRSUs, the Reporting Person received 57,672 shares of common stock.

The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Stephen F. Page Living Trust, on September 30, 2025.

Shares are held by the Stephen F. Page Living Trust, of which Mr. Page is the trustee. Mr. Page disclaims beneficial ownership of any securities in which he does not have a pecuniary interest.

The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Stephen F. Page Living Trust, on September 30, 2025.

Shares are held by the Stephen F. Page Living Trust, of which Mr. Page is the trustee. Mr. Page disclaims beneficial ownership of any securities in which he does not have a pecuniary interest.