Egbuonu-Davis Lisa 4

What Happened Lisa Egbuonu‑Davis, a director of Avanos Medical, received a grant of 12,003 restricted share units (RSUs) on May 8, 2026. The Form 4 reports the award as a derivative grant (code A) with a reported acquisition price of $0.00 (the RSUs themselves have no upfront cash cost). Each RSU is a contingent right to receive a cash payment equal to the value of one share of Avanos common stock. These RSUs were issued to replace RSUs previously granted on January 2, 2025.

Key Details

• Transaction date: May 8, 2026; Form 4 filed May 12, 2026 (filing appears timely).
• Instrument: 12,003 restricted share units (derivative award), reported at $0.00 per unit.
• Total reported cash outlay: $0 (award/grant, not a purchase).
• Vesting/settlement: RSUs vest upon the Reporting Person’s termination of service on the Board and are cash‑settled (each unit equals the cash value of one common share). (Footnotes F1 and F2)
• Shares owned after transaction: not specified in the filing.
• Transaction code: A = Award/Grant; no 10b5‑1 plan or tax‑withholding noted in the filing.

Context This was a grant of cash‑settled RSUs to a board member rather than a market purchase or sale, so it doesn't directly signal buy/sell sentiment. Such awards are commonly used for director compensation and may be structured to replace earlier awards (as noted). Because these RSUs pay out in cash based on share value and vest on board exit, they are tied to future service and are not immediate stock ownership.