Form 4: Avanos Medical CEO Joseph Woody Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
A Form 4 filing reveals that Avanos Medical CEO Joseph Fralin Woody sold shares to cover tax withholding obligations upon the vesting of restricted share units.
Summary
- On March 5, 2024, Joseph Fralin Woody, CEO of Avanos Medical, Inc., disposed of 8,431 shares of common stock to satisfy tax withholding obligations.
- The shares were surrendered to the issuer at a price of $18.76 per share.
- This transaction occurred due to the vesting of time-based restricted share units (TRSUs) awarded on March 4, 2022, with 1/3 vesting annually.
- Following the transaction, Woody directly owns 308,788 shares of Avanos Medical, Inc.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no inherent positive or negative implications for the company's overall performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard practice of covering tax obligations related to equity compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders, as it is a standard procedure for covering tax obligations related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/04/2022 | Date of time-based restricted share units (TRSUs) awarded to the Reporting Person |
| 03/04/2023 | 1/3 of TRSUs vested |
| 03/05/2024 | Transaction date: shares surrendered to cover tax obligations |
| 03/04/2024 | 1/3 of TRSUs vested |
| 03/04/2025 | Remaining 1/3 of TRSUs will vest |
| 03/06/2024 | Date of signature |
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