Form 4: Avanos Medical SVP Kerr Holbrook Reports Share Vesting and Tax Withholding

SVP, Chief Commercial Officer of Avanos Medical, Kerr Holbrook, reports vesting of restricted share units and subsequent tax withholding.

Summary

• Kerr Holbrook, SVP, Chief Commercial Officer of Avanos Medical, Inc., reported changes in beneficial ownership of company stock on March 18, 2024.
• The transactions involved the vesting of 2,531 performance-based restricted share units (PRSUs) and 9,516 time-based restricted share units (TRSUs), both awarded on March 17, 2021.
• Shares were surrendered to the issuer to satisfy tax withholding obligations upon the vesting of these units; 756 shares were withheld at $19.09 per share related to the PRSUs, and 2,840 shares were withheld at $19.09 per share related to the TRSUs.
• Following these transactions, Holbrook directly owns 86,131 shares of Avanos Medical, Inc. common stock.

Sentiment

Score: 5

Explanation: This is a neutral event reflecting standard executive compensation practices. It doesn't indicate positive or negative performance for the company.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings of company executives.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
• Tax withholding practices upon vesting are standard procedure across publicly traded companies.
• Similar filings are common among companies like Medtronic, Boston Scientific, and Johnson & Johnson, where equity-based compensation is a significant component of executive pay.

Stakeholder Impact

• The vesting of restricted stock units aligns executive interests with shareholder value.
• Tax withholding impacts the executive's net compensation.

Key Dates