Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
BUTLER WILLIAM K JR
  2. Issuer Name and Ticker or Trading Symbol
AARON'S INC [AAN]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Operating Officer
(Last)
(First)
(Middle)
309 E. PACES FERRY ROAD, N.E.
3. Date of Earliest Transaction (Month/Day/Year)
08/10/2012
(Street)

ATLANTA, GA 30305-
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/10/2012   M   4,800 A $ 14.2933 214,791 D (1) (2)  
Common Stock 08/10/2012   S   4,800 D $ 29.156 209,991 D (1) (2)  
Common Stock 08/10/2012   M   49,500 A $ 14.2755 259,491 D (1) (2)  
Common Stock 08/10/2012   S   49,500 D $ 29.156 209,991 D (1) (2)  
Common Stock 08/13/2012   M   23,550 A $ 14.2933 233,541 D (1) (2)  
Common Stock 08/13/2012   S   23,550 D $ 29.4168 209,991 D (1) (2)  
Common Stock 08/13/2012   M   37,500 A $ 14.0933 247,491 D (1) (2)  
Common Stock 08/13/2012   S   37,500 D $ 29.4168 209,991 D (1) (2)  
Common Stock 08/13/2012   M   25,000 A $ 14.1067 234,991 D (1) (2)  
Common Stock 08/13/2012   S   25,000 D $ 29.4168 209,991 D (1) (2)  
Common Stock               7,828.5297 I By: 401(k) Plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy) $ 14.2933 08/10/2012   M     4,800 11/01/2007 11/01/2014 Common Stock 4,800 $ 0 23,550 D  
Stock Options (Right to Buy) $ 14.2755 08/10/2012   M     49,500 07/30/2007 07/30/2014 Common Stock 49,500 $ 0 0 D  
Stock Options (Right to Buy) $ 14.2933 08/13/2012   M     23,550 11/01/2007 11/01/2014 Common Stock 23,550 $ 0 0 D  
Stock Options (Right to Buy) $ 14.0933 08/13/2012   M     37,500 11/13/2010 11/13/2017 Common Stock 37,500 $ 0 0 D  
Stock Options (Right to Buy) $ 14.1067 08/13/2012   M     25,000 10/16/2011 10/16/2018 Common Stock 25,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BUTLER WILLIAM K JR
309 E. PACES FERRY ROAD, N.E.
ATLANTA, GA 30305-
  X     Chief Operating Officer  

Signatures

 /s/ Robert Sinclair, by Power of Attorney for William K. Butler   08/14/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 75,000 shares pertain to restricted stock units of Common Stock granted on February 23, 2010.
(2) 75,000 shares pertain to restricted stock units of Common Stock granted on February 22, 2011.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.