AAON Announces Semi-Annual Cash Dividend, Promotion of

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TULSA, Okla., May 18, 2022 (GLOBE NEWSWIRE) — AAON, Inc. (NASDAQ-AAON), today announced that its Board of Directors has declared the company’s next regular semi-annual cash dividend of 0, $19 per share (or $0.38 annually), payable July 1, 2022 to shareholders of record at the close of business June 3, 2022.

The Company also announced today that its Board of Directors has promoted Casey R. Kidwell to Vice President of Administration, effective May 12, 2022.

Casey R. Kidwell, 44, joined AAON in 2021 as Chief Administrative Officer. Prior to joining the company, he spent nearly 10 years in various roles at WPX Energy, most recently as Director of Human Resources Operations. Mr. Kidwell holds a Bachelor of Science in Human Resources Management from Oklahoma State University.

Gary D. Fields, President and CEO, said, “Please join me in congratulating Casey on his promotion to Vice President of Administration. Casey has been instrumental in our ongoing employee recruitment and retention efforts through various human resources initiatives, especially as we navigated the unusual job market over the past year. I look forward to Casey’s continued success and positive impact as he steps into his new role.

Additionally, on May 12, 2022, following the previously announced retirements of Norman H. Asbjornson as Executive Chairman and Paul K. (“Ken”) Lackey, Jr., as Lead Independent Director , the Board of Directors elected AH (“Chip”) McElroy II as Independent Chairman of the Board and Caron Lawhorn as Independent Vice Chairman of the Board.

Mr. Fields concluded, “Norm was uniquely qualified to lead AAON’s Board of Directors from the inception of the company until his recent retirement. With Norm’s decision to step down as Executive Chairman and Ken Lackey’s decision to retire from the Board after 15 years of service, the Board determined that it was time to change the governance structure of the company. I couldn’t be happier to have Chip McElroy as Independent Chairman of the company and Caron Lawhorn as Independent Vice Chairman. They each bring significant experience to their respective roles and the Company will greatly benefit from this modernized governance structure as it continues to mature as an organization.

About AAON
AAON, Inc. is engaged in the engineering, manufacturing, marketing and sale of premium air conditioning and heating equipment including standard, semi-custom and custom rooftop units, center cooling solutions data, clean room systems, chillers, packaged outdoor mechanical rooms, air handling units, make-up air units, energy recovery units, condensing units, geothermal/water heat pumps, coils and controls. Since AAON’s founding in 1988, AAON has maintained its commitment to design, develop, manufacture and supply heating and cooling products to exceed all expectations and demonstrate the value of AAON to our customers. For more information, visit www.AAON.com.

Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects”, “anticipates”, “intends”, “projects”, ” believes”, “seeks”, “estimates”, “should”, “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results may differ materially from what is expressed or anticipated in such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information or future events.

Contact information
Joseph Mondillo
Investor Relations Director
Telephone (617) 877-6346
Email: [email protected]

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