AVITA Medical, Inc. 8-K

What Happened
AVITA Medical, Inc. (RCEL) filed an 8‑K reporting that effective January 1, 2026 the Board appointed Joe Woody as a director to serve until the company’s 2026 Annual Meeting of Stockholders. The Board determined Mr. Woody is an independent director under its standards. The company issued a press release on January 5, 2026 announcing the appointment.

Key Details

• Appointment effective: January 1, 2026; term through the 2026 Annual Meeting of Stockholders.
• Cash compensation: $92,500 annually for Board service (per Offer Letter effective Jan 1, 2026).
• Equity grant: initial grant dated January 20, 2026 valued at $210,000 (approximately 30% stock options, 70% restricted stock units); future annual equity grants possible; equity awards subject to shareholder approval.
• Background: Mr. Woody served as CEO of Avanos Medical (2017–2024), was President & CEO of Acelity, and held senior roles at Covidien and Smith & Nephew; longtime board member of AdvaMed.
• Governance: Mr. Woody will serve on each of the Board’s committees and signed the company’s standard indemnification agreement under Australian Securities Exchange rules.

Why It Matters
This is a governance update signaling the addition of a seasoned medical‑technology executive to AVITA’s board, which could influence oversight and strategic decisions given his industry experience. The filing discloses the concrete cost to shareholders in the form of cash and equity compensation (equity subject to shareholder approval), and confirms independence and committee participation—facts investors watch for corporate governance and potential dilution implications.