BLACKFORD GARY 4

What Happened
Gary Blackford, a director of Avanos Medical, was granted 12,003 restricted share units (RSUs) on May 8, 2026. The Form 4 reports these as a derivative award with an acquisition price of $0. Each RSU represents a contingent right to receive a cash payment equal to the value of one share of Avanos common stock. The grant replaces RSUs previously issued to him on January 2, 2025.

Key Details

• Transaction type: Award/Grant of derivative securities (RSUs)
• Transaction date: 2026-05-08; Form 4 filed: 2026-05-12 (filed 4 days after the transaction; appears late relative to the 2-business-day Form 4 deadline)
• Amount: 12,003 restricted share units; reported acquisition price $0 and reported value $0 on the filing (cash-settled contingent rights)
• Vesting/settlement: RSUs vest and become payable on the date the reporting person terminates service on the Board (footnote)
• Replacement: These RSUs replace those issued to Blackford on January 2, 2025 (footnote)
• Shares owned after transaction: Not disclosed in this filing (these RSUs are contingent cash rights, not current share ownership)

Context
These are cash-settled RSUs (derivative awards), not an outright stock purchase or immediate equity ownership. Because they only pay out upon termination of board service, they do not indicate an immediate bullish or bearish trade by the director. Note the filing date is later than the typical Form 4 deadline, which may be material for compliance monitoring but does not change the nature of the award.