UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01. Entry into a Material Definitive Agreement.
On December 18, 2025, AeroVironment, Inc. (the “Company”) executed a new lease (the “Lease”) with QOZ 201CC TWO, LLC (the “Landlord”) for certain premises consisting of approximately 130,733 square feet located at 4387 West 2100 South, West Valley City, Utah 84120 (the “Premises”). The Lease will commence on the earlier of the Company occupying the Premises and conducting business therein, or the date of substantial completion of improvements as defined within the Lease (the “Commencement Date”). The Lease expires on the last day of the 126th full calendar month following the Commencement Date unless otherwise terminated or extended pursuant to the terms of the Lease.
The base monthly rent during the Lease term is as follows:
| Month of Lease Term | Base Monthly Rent | ||||
| 1-12 | $ | 146,420.96 | |||
| 13-24 | $ | 151,545.69 | |||
| 25-36 | $ | 156,849.79 | |||
| 37-48 | $ | 162,339.54 | |||
| 49-60 | $ | 168,021.42 | |||
| 61-72 | $ | 173,902.17 | |||
| 73-84 | $ | 179,988.74 | |||
| 85-96 | $ | 186,288.35 | |||
| 97-108 | $ | 192,808.44 | |||
| 109-120 | $ | 199,556.74 | |||
| 121-126 | $ | 206,541.22 | |||
The Company will also be responsible for its proportionate share of the building’s operating expenses, including property taxes.
Common Terms
The Company has two options to extend the lease term for five consecutive years each by providing written notice between 270 days and 360 days before the expiration of such lease term. During any extension term for such lease, the base rent will be equal to the then current market rent, but not less than the base rent for the last month for such lease.
The foregoing description of the lease does not purport to be complete and is qualified in its entirety by reference to the complete text of such document, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended January 31, 2026.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AEROVIRONMENT, INC. | ||
| Date: December 23, 2025 | By: | /s/ Melissa Brown |
| Melissa Brown | ||
| Executive Vice President, Chief Legal and Compliance Officer & Corporate Secretary | ||
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