How many AOUT shares did Engine Capital-related entities beneficially own?

Engine Capital and Engine Jet directly owned 545,324 shares in aggregate, which Engine Management, its general partner, Engine Investments, LLC, and Arnaud Ajdler may be deemed to beneficially own. The reported percentage was approximately 4.3%.

American Outdoor Brands: Engine stake at about 4.3%

Q: What were the terms of Bradley T. Favreau's AOUT RSU award?

Bradley T. Favreau, a director, was awarded 6,272 RSUs on September 28, 2026. One-twelfth vests on the last day of each month following the grant date; 1,568 have vested or will vest within 60 days of the date hereof.

Engine Capital-related entities were attributed 545,324 shares, while director Bradley T. Favreau reported 62,182 shares.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

SCHEDULE 13D/A

Rhea-AI Filing Summary

American Outdoor Brands, Inc. (AOUT) shares were reported as beneficially owned by several investment entities and a director. The reporting persons stated that they ceased to beneficially own 5% or more as of October 5, 2026. Engine Capital directly owned 503,281 shares and Engine Jet directly owned 42,043; Engine Management, Engine Capital Management GP, LLC, Engine Investments, LLC, and Arnaud Ajdler, in his managing partner and managing member roles, may be deemed to beneficially own the combined 545,324 shares, or approximately 4.3%. Bradley T. Favreau, a director, reported 62,182 shares, or 0.5%. These percentages use 12,621,225 shares outstanding as of August 31, 2026.

Engine Capital and Engine Jet reported aggregate purchase prices of approximately $6,261,880 and $527,910, respectively, including brokerage commissions. Favreau's disclosure includes 6,272 RSUs awarded September 28, 2026, with one-twelfth scheduled to vest on the last day of each following month.

Key Figures

Engine Capital shares directly owned: 503,281 shares Engine Jet shares directly owned: 42,043 shares Shares beneficially owned in aggregate by Engine Capital and Engine Jet: 545,324 shares +5 more

8 metrics

Engine Capital shares directly owned 503,281 shares As of the date of the statement

Engine Jet shares directly owned 42,043 shares As of the date of the statement

Shares beneficially owned in aggregate by Engine Capital and Engine Jet 545,324 shares Engine Management and related entities may be deemed to beneficially own this amount

Reported beneficial ownership Approximately 4.3% For the 545,324 shares owned in aggregate by Engine Capital and Engine Jet

Bradley T. Favreau shares beneficially owned 62,182 shares Reported as of the date of the statement

Shares outstanding 12,621,225 shares As of August 31, 2026

RSUs awarded to Bradley T. Favreau 6,272 RSUs Awarded September 28, 2026

Engine Capital aggregate purchase price Approximately $6,261,880 For 503,281 shares, including brokerage commissions

Key Terms

beneficially own, sole dispositive power, RSUs, working capital, +1 more

5 terms

beneficially own financial

"may be deemed to beneficially own the 545,324 Shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

sole dispositive power financial

"Sole dispositive power: 503,281"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

RSUs financial

"was awarded 6,272 RSUs"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

working capital financial

"purchased with working capital"

Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.

margin loans financial

"may, at any given time, include margin loans"

Margin loans are loans from a brokerage that let an investor borrow money using their existing stocks, bonds or cash as collateral to buy more securities. They matter because borrowing magnifies both gains and losses—like using a lever to move a heavier load—so small market moves can have outsized effects on your returns; investors also pay interest and risk a margin call, where the broker may force sales if collateral falls below required levels.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Did the AOUT reporting persons still beneficially own 5% or more?

The reporting persons stated that they ceased to beneficially own 5% or more of AOUT shares as of October 5, 2026. The reported ownership percentages were based on 12,621,225 shares outstanding as of August 31, 2026.

What purchase prices did Engine Capital and Engine Jet report for AOUT shares?

Engine Capital reported an aggregate purchase price of approximately $6,261,880 for its 503,281 shares, and Engine Jet reported approximately $527,910 for its 42,043 shares. Both amounts include brokerage commissions; the shares were purchased with working capital, which may include margin loans made by brokerage firms in the ordinary course.

What were the terms of Bradley T. Favreau's AOUT RSU award?

Bradley T. Favreau, a director, was awarded 6,272 RSUs on September 28, 2026. One-twelfth vests on the last day of each month following the grant date; 1,568 have vested or will vest within 60 days of the date hereof.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/07/2026 - 06:44 PM Accepted by SEC EDGAR 10/07/2026 - 06:44 PM

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

American Outdoor Brands, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

02875D109

(CUSIP Number)

ANDREW FREEDMAN, ESQ.
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/05/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

Item 1.

Security and Issuer

(a)

Title of Class of Securities:

Common Stock, par value $0.001 per share

(b)

Name of Issuer:

American Outdoor Brands, Inc.

(c)

Address of Issuer's Principal Executive Offices:

1800 NORTH ROUTE Z, SUITE A, COLUMBIA, MISSOURI , 65202.

Item 1 Comment:

The following constitutes Amendment No. 1 to the Schedule 13D filed by the undersigned ("Amendment No. 1"). This Amendment No. 1 amends the Schedule 13D as specifically set forth herein. Unless otherwise defined herein, all capitalized terms used herein shall have the meanings given to them in the Schedule 13D.

Item 3.

Source and Amount of Funds or Other Consideration

Item 3 is hereby amended and restated as follows: The Shares purchased by each of Engine Capital and Engine Jet were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 503,281 Shares beneficially owned by Engine Capital is approximately $6,261,880, including brokerage commissions. The aggregate purchase price of the 42,043 Shares beneficially owned by Engine Jet is approximately $527,910, including brokerage commissions. Of the 62,182 Shares beneficially owned by Mr. Favreau, (i) 12,620 Shares were purchased with personal funds in open market purchases for an aggregate purchase price of $110,261, including brokerage commissions, and (ii) 54,266 RSUs were awarded to him for his service as a director of the Issuer, 49,562 of which have vested or will vest within 60 days of the date hereof. The remainder of Mr. Favreau's RSUs vest as described in Item 6 hereof.

Item 5.

Interest in Securities of the Issuer

(a)

Item 5(a) is hereby amended and restated as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon 12,621,225 Shares outstanding as of August 31, 2026, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on September 3, 2026. A. Engine Capital As of the date hereof, Engine Capital directly owned 503,281 Shares. Percentage: Approximately 4.0% B. Engine Jet As of the date hereof, Engine Jet directly owned 42,043 Shares. Percentage: 0.3% C. Engine Management Engine Management, as the investment manager of each of Engine Capital and Engine Jet, may be deemed to beneficially own the 545,324 Shares owned in the aggregate by Engine Capital and Engine Jet. Percentage: Approximately 4.3% D. Engine GP Engine GP, as the general partner of Engine Management, may be deemed to beneficially own the 545,324 Shares owned in the aggregate by Engine Capital and Engine Jet. Percentage: Approximately 4.3% E. Engine Investments Engine Investments, as the general partner of each of Engine Capital and Engine Jet, may be deemed to beneficially own the 545,324 Shares owned in the aggregate by Engine Capital and Engine Jet. Percentage: Approximately 4.3% F. Arnaud Ajdler Mr. Ajdler, as the managing partner of Engine Management and the managing member of each of Engine GP and Engine Investments, may be deemed to beneficially own the 545,324 Shares owned in the aggregate by Engine Capital and Engine Jet. Percentage: Approximately 4.3% G. Bradley T. Favreau As of the date hereof, Mr. Favreau beneficially owned 62,182 Shares. Percentage: 0.5% The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

(b)

Item 5(b) is hereby amended and restated as follows: A. Engine Capital 1. Sole power to vote or direct vote: 503,281 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 503,281 4. Shared power to dispose or direct the disposition: 0 B. Engine Jet 1. Sole power to vote or direct vote: 42,043 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 42,043 4. Shared power to dispose or direct the disposition: 0 C. Engine Management 1. Sole power to vote or direct vote: 545,324 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 545,324 4. Shared power to dispose or direct the disposition: 0 D. Engine GP 1. Sole power to vote or direct vote: 545,324 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 545,324 4. Shared power to dispose or direct the disposition: 0 E. Engine Investments 1. Sole power to vote or direct vote: 545,324 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 545,324 4. Shared power to dispose or direct the disposition: 0 F. Arnaud Ajdler 1. Sole power to vote or direct vote: 545,324 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 545,324 4. Shared power to dispose or direct the disposition: 0 G. Bradley T. Favreau 1. Sole power to vote or direct vote: 62,182 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 62,182 4. Shared power to dispose or direct the disposition: 0

(c)

Item 5(c) is hereby amended and restated as follows: The transactions in the Shares by certain of the Reporting Persons during the past sixty days are set forth on Exhibit 1 attached hereto and are incorporated herein by reference.

(e)

Item 5(e) is hereby amended and restated as follows: As of October 5, 2026, the Reporting Persons ceased to beneficially own 5% or more of the Shares.

Item 6.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6 is hereby amended to add the following: On September 28, 2026, Mr. Favreau was awarded 6,272 RSUs, 1/12th of which shall vest on the last day of each month following the date of grant. Of the 6,272 RSUs, 1,568 have vested or will vest within 60 days of the date hereof. As set forth in Mr. Favreau's Form 4 filings with respect to the Issuer, Mr. Favreau has received certain other awards in connection with his service as a director of the Issuer, all of which has vested.

Item 7.

Material to be Filed as Exhibits.

Item 7 is hereby amended to add the following exhibit: 1 - Transactions in Securities

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ENGINE CAPITAL, L.P.

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member of Engine Investments, LLC, its General Partner
Date:	10/07/2026

Engine Jet Capital, L.P.

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member of Engine Investments, LLC, its General Partner
Date:	10/07/2026

Engine Capital Management, LP

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member of Engine Capital Management GP, LLC, its General Partner
Date:	10/07/2026

Engine Capital Management GP, LLC

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member
Date:	10/07/2026

Engine Investments, LLC

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler, Managing Member
Date:	10/07/2026

Ajdler Arnaud

Signature:	/s/ Arnaud Ajdler
Name/Title:	Arnaud Ajdler
Date:	10/07/2026

BRADLEY T. FAVREAU

Signature:	/s/ Bradley T. Favreau
Name/Title:	Bradley T. Favreau
Date:	10/07/2026

Source: View Original Filing on SEC EDGAR