Galovan Scott Michael 4

What Happened
Galovan Scott Michael, CFO of Avanos Medical (AVNS), was granted two awards on 2026-03-13 totaling 99,111 time‑based restricted share units (TRSUs): 29,481 TRSUs and 69,630 TRSUs (reported as a derivative). Both awards were granted at $0.00 (i.e., no cash paid). TRSUs are the economic equivalent of one share of common stock and convert to shares only as they vest.

Key Details

• Transaction date: 2026-03-13; Form 4 filed 2026-03-17 (filed within the SEC’s two-business-day window).
• Awards: 29,481 TRSUs (vests 1/3 on Mar 13 of 2027, 2028 and 2029) and 69,630 TRSUs (vests 30% on Mar 13, 2027; 30% on Mar 13, 2028; 40% on Mar 13, 2029). (Footnotes F1 & F2)
• Reported price/consideration: $0.00 (awards/grants). No immediate cash value realized.
• Shares owned after transaction: Not stated in the provided filing excerpt.
• Notes: TRSUs are restricted units (not stock options) and are subject to vesting/forfeiture until they vest. Filing was timely (not late).

Context
This is a compensation award (retention/long‑term incentive), not a market purchase or sale. Such grants are common for executives and signal standard compensation/retention practices rather than an immediate bullish or bearish insider trade. Upon future vesting and conversion to shares, additional common shares may be issued, which could modestly affect share count.