Form 4: Avanos Medical SVP Michael Greiner Reports Stock Transactions Following Vesting of Restricted Share Units
SEC Form 4
Michael Greiner, SVP and CFO of Avanos Medical, reports the vesting of performance-based and time-based restricted share units and subsequent transactions to cover tax obligations.
Summary
- On March 18, 2024, Michael Greiner, SVP and CFO of Avanos Medical, had performance-based restricted share units (PRSUs) vest, resulting in 4,219 shares.
- Following the vesting, Greiner surrendered 1,892 shares to cover tax withholding obligations related to the PRSU vesting at a price of $19.09 per share.
- Additionally, 15,861 time-based restricted share units (TRSUs) vested on the same date.
- Greiner also surrendered 7,113 shares to cover tax withholding obligations related to the TRSU vesting at a price of $19.09 per share.
- After these transactions, Greiner directly owns 146,709 shares of Avanos Medical common stock.
Sentiment
Score: 5
Explanation: This is a neutral filing, simply reporting required information about stock transactions. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- The practice of surrendering shares to cover tax obligations upon vesting is standard across publicly traded companies.
- Similar filings are regularly made by executives at comparable medical device companies such as Medtronic, Stryker, and Johnson & Johnson.
Stakeholder Impact
- The transactions have a minor impact on the overall shareholding structure of the company.
- The vesting of RSUs incentivizes the executive to work towards the long-term success of the company, benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/17/2021 | Date PRSUs and TRSUs were awarded to the Reporting Person |
| 03/18/2024 | Date of vesting of PRSUs and TRSUs, and related transactions |
| 03/19/2024 | Date of Form 4 signature |
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