Form 4: Avanos Medical CEO David Pacitti Executes Tax Withholding
Statement of Changes in Beneficial Ownership
Avanos Medical CEO David Pacitti surrendered 21,194 shares to satisfy tax obligations following the vesting of restricted stock units.
Summary
- CEO David Pacitti disposed of 21,194 shares of Avanos Medical common stock.
- The transaction occurred on April 14, 2026, at a price of $14.53 per share.
- The disposal was a mandatory surrender of shares to cover tax withholding obligations related to the vesting of 72,614 time-based restricted share units (TRSUs).
- Following this transaction, the CEO maintains a beneficial ownership of 322,194 shares.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event, as it represents a routine tax compliance transaction rather than a change in the executive's confidence in the company.
Positives
- The transaction is a routine administrative action related to tax obligations rather than a discretionary sale of equity.
- The CEO retains a significant equity stake of 322,194 shares, aligning interests with shareholders.
Negatives
- The transaction results in a reduction of the CEO's direct share ownership.
Risks
- None identified; this is a standard regulatory filing for executive compensation tax compliance.
Future Outlook
No forward-looking guidance provided in this filing.
Industry Context
StockSavvy.ai notes that this filing is a standard administrative event common in the medical device sector, where executive compensation packages frequently include equity-based incentives that trigger tax withholding events upon vesting.
Comparison to Industry Standards
- The practice of withholding shares to satisfy tax obligations upon the vesting of restricted stock units is a standard corporate governance practice across the S&P 500 and medical device industry peers like Medtronic or Baxter.
Stakeholder Impact
- Minimal impact on shareholders as the transaction is a standard tax-related share surrender.
Key Dates
| Date | Description |
|---|---|
| 04/14/2025 | Original award date of the time-based restricted share units. |
| 04/14/2026 | Vesting date of the restricted share units and date of the tax withholding transaction. |
| 04/16/2026 | Date of filing for the Form 4. |
Keywords
Avanos Medical, AVNS, Form 4, Insider Trading, Executive Compensation, Tax Withholding
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