Form 4: Avanos Medical Executive Sudhakar Varshney Reports Stock Transaction
SEC Form 4 Filing
Sudhakar Varshney, SVP of Global Supply Chain at Avanos Medical, Inc., reports the surrender of shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On March 6, 2024, Sudhakar Varshney, SVP of Global Supply Chain at Avanos Medical, Inc., surrendered 1,394 shares of common stock to satisfy tax withholding obligations.
- The shares were surrendered at a price of $19 per share.
- This transaction occurred due to the vesting of time-based restricted stock units (TRSUs) awarded on March 6, 2023, with 1/3 vesting on March 6, 2024, 1/3 vesting on March 6, 2025, and the remaining 1/3 vesting on March 6, 2026.
- Following the transaction, Varshney directly owns 30,197 shares of Avanos Medical, Inc.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neutral to slightly positive as it indicates continued vesting of stock awards.
Future Outlook
The reporting person has time-based restricted stock units that will continue to vest on March 6, 2025 and March 6, 2026.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of stock awards and the subsequent surrender of shares to cover tax obligations, a common practice.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine tax-related stock transaction.
Key Dates
| Date | Description |
|---|---|
| 03/06/2023 | Date of original grant of time-based restricted stock units (TRSUs) |
| 03/06/2024 | Date of transaction: Surrender of shares for tax withholding; 1/3 of TRSUs vest |
| 03/06/2025 | Date when 1/3 of TRSUs will vest |
| 03/06/2026 | Date when the remaining 1/3 of TRSUs will vest |
| 03/07/2024 | Date of Form 4 signature |
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