AVANOS (AVNS) Director Patrick J. O'Leary Sells Shares

What Happened Patrick J. O'Leary, a director of Avanos Medical, disposed of a total of 66,643 economic interests in Avanos on July 27, 2026. That consisted of 54,640 outstanding common shares converted at $25.00 each for $1,366,000 and 12,003 cash‑settled restricted share units converted at $25.00 each for $300,075, for total cash proceeds of $1,666,075. These dispositions were made to the issuer as part of the merger that became effective July 27, 2026 and resulted in the cash payment of $25.00 per share.

Key Details

• Transaction date: July 27, 2026; Filing date: July 28, 2026 (filed timely).
• Prices and amounts: 54,640 shares × $25.00 = $1,366,000; 12,003 RSU‑equivalents × $25.00 = $300,075; combined = $1,666,075.
• Transaction code: D (Disposition to the issuer) — conversion to merger consideration, not an open‑market sale.
• Shares owned after transaction: not specified in this Form 4 filing.
• Footnotes: The merger agreement (Effective July 27, 2026) converted each outstanding common share into $25.00 cash (F1). The 12,003 units were restricted share units issued May 8, 2026 and were cash‑settled/cancelled immediately prior to the merger, converted into the right to receive cash equal to $25.00 per share subject to withholding (F2, F3).

Context This was a merger-related cash payout (routine conversion of equity and cash‑settled RSUs under the Merger Agreement) rather than a discretionary open‑market sale. For retail investors, such dispositions reflect the transaction mechanics of the merger, not necessarily an insider view on future company prospects.