Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Class of Treasury Stock

Our authorized open market repurchase programs during the periods are as follows:

Agreement Execution Date	Authorized Repurchase $	Expiration Date
March 13, 2020	$20 million1	November 9, 2022
November 3, 2022	$50 million1	February 27, 2024
February 27, 2024	$50 million1	June 4, 2024
June 4, 2024	$50 million2	June 14, 2024
February 25, 2025	$100 million	**3
1 Repurchases made in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
2 Repurchases made in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended.
3 Expiration Date is at Board's discretion. The Company is authorized to effectuate repurchases of the Company's common stock on terms and conditions approved in advance by the Board.

Company also had a stock repurchase arrangement by which employee-participants in our 401(k) Plan were entitled to have shares of AAON stock in their accounts sold to the Company. The 401(k) Plan was amended in June 2022 to discontinue this program. No additional shares have been purchased by the Company under this arrangement since June 2022.

Lastly, the Company repurchases shares of AAON, Inc. stock related to the LTIP Plans (Note 15) at current market prices.

Schedule of Share Repurchases

Our repurchase activity is as follows:

	2024					2023					2022
	(in thousands, except share and per share data)
Program	Shares	Total $		$ per share		Shares	Total $		$ per share		Shares	Total $		$ per share
Open market	1,353,564	$	100,034	$	73.90	402,873	$	25,009	$	62.08	183,168	$	6,823	$	37.25
401(k)	—	—		—		—	—		—		155,904	5,913		37.93
Employees	92,444	8,037		86.94		21,904	1,302		59.44		25,842	1,019		39.43
Total	1,446,008	$	108,071	$	74.74	424,777	$	26,311	$	61.94	364,914	$	13,755	$	37.69

Schedule of Dividends

Our recent cash dividends are as follows:

			Dividend	Annualized Dividend
Declaration Date1	Record Date	Payment Date	per Share	per Share
May 18, 2022	June 3, 2022	July 1, 2022	$0.13	$0.26
November 8, 2022	November 28, 2022	December 16, 2022	$0.16	$0.32
March 1, 2023	March 13, 2023	March 31, 2023	$0.08	$0.32
May 18, 2023	June 9, 2023	June 30, 2023	$0.08	$0.32
August 18, 2023	September 8, 2023	September 29, 2023	$0.08	$0.32
November 10, 2023	November 29, 2023	December 18, 2023	$0.08	$0.32
March 5, 2024	March 18, 2024	March 29, 2024	$0.08	$0.32
May 24, 2024	June 7, 2024	June 28, 2024	$0.08	$0.32
August 15, 2024	September 6, 2024	September 27, 2024	$0.08	$0.32
November 13, 2024	November 29, 2024	December 19, 2024	$0.08	$0.32
1 Effective with the cash dividend declared on March 1, 2023 (paid on March 31, 2023), the Company moved from semi-annual cash dividends to quarterly cash dividends.