Form 4: Avanos Medical SVP Kerr Holbrook Reports Share Disposal for Tax Obligations
SEC Form 4 Filing
Kerr Holbrook, SVP and Chief Commercial Officer of Avanos Medical, disposed of 1,502 shares to cover tax obligations related to vesting restricted share units.
Summary
- On March 5, 2024, Kerr Holbrook, SVP and Chief Commercial Officer of Avanos Medical, Inc. (AVNS), disposed of 1,502 shares of common stock.
- The transaction was executed to satisfy tax withholding obligations upon the vesting of time-based restricted share units (TRSUs).
- The shares were disposed of at a price of $18.76 per share.
- Following the transaction, Holbrook directly owns 52,310 shares of Avanos Medical, Inc.
- The TRSUs were awarded on March 4, 2022, and vest in three equal installments on March 4, 2023, March 4, 2024, and March 4, 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to insider transactions for tax purposes, indicating a neutral sentiment.
Future Outlook
The remaining 1/3 of the TRSUs will vest on March 4, 2025.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates a standard practice of covering tax obligations upon the vesting of stock awards.
Key Dates
| Date | Description |
|---|---|
| 03/04/2022 | Date of grant for time-based restricted share units (TRSUs) |
| 03/04/2023 | 1/3 of TRSUs vested |
| 03/04/2024 | 1/3 of TRSUs vested |
| 03/05/2024 | Date of transaction: Disposal of shares to cover tax obligations |
| 03/06/2024 | Date of signature for the Form 4 filing |
| 03/04/2025 | Remaining 1/3 of TRSUs will vest |
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