Avanos (AVNS) SVP Sigfrido Delgado Sells Shares in $25 Merger

What Happened

• Sigfrido Delgado, Senior VP, Operations at Avanos Medical (AVNS), had shares and equity awards converted to cash under the July 27, 2026 merger. Two reported cash dispositions: 55,741 shares sold at $25.00 for $1,393,525 and 54,886 shares sold at $25.00 for $1,372,150 (total cash reported $2,765,675).
• The filing also reports a deemed acquisition of 54,886 shares (award conversion) and dispositions of derivative awards (37,520 and 21,914 units) that were cancelled and converted to cash per the Merger Agreement. These transactions reflect the merger cash-out, not an open-market sale.

Key Details

• Transaction date: July 27, 2026 (Effective Time of the Merger); filing dated July 28, 2026.
• Cash price: $25.00 per share under the Merger Agreement (Merger Consideration).
• Reported cash received (from listed common-stock dispositions): $2,765,675.
• Shares owned after transaction: not explicitly stated; pre-merger common shares were converted to cash so the filer likely holds no Avanos common stock following the Effective Time.
• Notable footnotes: outstanding common stock, time-based RSUs (TRSUs), performance RSUs (PRSUs), and stock options were cancelled and converted into cash per the Merger Agreement (see F1–F7). PRSUs were converted at target with a potential true-up if actual 2026 performance exceeds target; some options in-the-money were cashed out while options with exercise price above $25 were cancelled for no consideration.
• Timeliness: filing dated the day after the Effective Time (no late-filing indication).

Context

• These are merger cash-out transactions (company acquisition), not discretionary open-market sales. Dispositions of RSUs/PRSUs and option-related conversions are common in M&A and reflect contract terms rather than trading sentiment.