3M Aveanna Healthcare (AVAH) shares sold by sponsor-affiliated entities, large stakes remain

Rhea-AI Filing Summary

Aveanna Healthcare Holdings insider-related entities sold common stock in a sizable secondary transaction. Investment entities associated with Paul R. Vigano sold an aggregate 3,000,000 shares of Aveanna Healthcare common stock on June 30, 2026 at an average price of $8.01 per share in open-market or private transactions.

After these sales, JHW Iliad Holdings II LLC held 190,130 shares, JHW Iliad Holdings LLC held 1,813,795 shares, and J.H. Whitney VII, L.P. held 10,112,123 shares, all reported as indirect holdings. Additional indirect positions were 1,426,034 shares held by PSA Iliad Holdings LLC and 15,523,810 shares held by PSA Healthcare Investment Holdings LLC, while Vigano reported no direct holdings. Footnotes state that various J.H. Whitney-affiliated entities and Vigano may be deemed to share voting and dispositive power and each disclaims beneficial ownership except to the extent of pecuniary interest.

Insights

Insider transactions analyst

Affiliated investment entities sold 3M Aveanna shares but retain large positions.

Entities associated with Paul R. Vigano, a reported ten-percent owner, executed open-market or private sale transactions totaling 3,000,000 shares of Aveanna Healthcare common stock at $8.01 per share on June 30, 2026. These are coded as sale transactions ("S").

The filing also shows substantial remaining indirect holdings: over 10 million shares at J.H. Whitney VII, L.P. plus additional stakes at JHW Iliad entities and PSA Healthcare/PSA Iliad vehicles. Footnotes clarify layered control relationships and that Vigano and the management entities may be deemed to share voting and dispositive power but disclaim beneficial ownership beyond pecuniary interests.

For investors, this represents a notable liquidity event by sponsor-affiliated vehicles rather than a direct personal sale, with significant exposure still reported through multiple funds. There is no indication of derivative exercises or Rule 10b5-1 trading plans in the provided excerpt, so the sales appear as straightforward secondary dispositions by financial sponsors.

Insider Trade Summary

Net Seller: 3,000,000 shares

Net Sell 6 txns

Insider VIGANO PAUL R

Role 10% Owner

Sold 3,000,000 shs ($24.03M)

Type	Security	Shares	Price	Value
Sale	Common Stock, $0.01 par value	2,419,035	$8.01	$19.38M
Sale	Common Stock, $0.01 par value	525,844	$8.01	$4.21M
Sale	Common Stock, $0.01 par value	55,121	$8.01	$442K
holding	Common Stock, $0.01 par value	--	--	--
holding	Common Stock, $0.01 par value	--	--	--
holding	Common Stock, $0.01 par value	--	--	--

Holdings After Transaction: Common Stock, $0.01 par value — 10,112,123 shares (Indirect, By J.H. Whitney VII, L.P.); Common Stock, $0.01 par value — 1,813,795 shares (Indirect, By JHW Iliad Holdings LLC); Common Stock, $0.01 par value — 190,130 shares (Indirect, By JHW Iliad Holdings II LLC); Common Stock, $0.01 par value — 0 shares (Direct); Common Stock, $0.01 par value — 15,523,810 shares (Indirect, By PSA Healthcare Investment Holdings LLC); Common Stock, $0.01 par value — 1,426,034 shares (Indirect, By PSA Iliad Holdings LLC)

Footnotes (4)

1. F1. J.H. Whitney Equity Partners VII, LLC ("Equity Partners VII") is the general partner of J.H. Whitney VII, L.P. ("JHW VII") and Whitney Strategic Partners VII, L.P. ("Strategic Partners VII"). Strategic Partners VII is the managing member of each of PSA Healthcare Investment Holdings LLC ("PSA Healthcare") and PSA Iliad Holdings LLC ("PSA Iliad Holdings"). As a result, Equity Partners VII may be deemed to share voting and dispositive power with respect to shares of common stock, $0.01 par value per share (the "Shares"), held by each of JHW VII, PSA Healthcare and PSA Iliad Holdings, and Strategic Partners VII may be deemed to share voting and dispositive power with respect to the Shares held by each of PSA Healthcare and PSA Iliad Holdings. Each of Equity Partners VII and Strategic Partners VII disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.
2. F2. Project Iliad Managing Member, LLC ("Project Iliad") is the managing member of JHW Iliad Holdings LLC ("JHW Iliad"). As a result, Project Iliad may be deemed to share voting and dispositive power with respect to the Shares held by JHW Iliad. Project Iliad disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.
3. F3. J.H. Whitney Capital Partners, LLC ("Capital Partners") is the sole member of J.H. Whitney VII Management Co., LLC ("Management Co. VII"), which is the managing member of JHW Iliad Holdings II LLC ("JHW Iliad II," and, collectively with PSA Healthcare, JHW Iliad, and PSA Iliad Holdings, the "Stockholder Entities"). As a result, each of Capital Partners and Management Co. VII may be deemed to share voting and dispositive power with respect to the Shares held by JHW Iliad II. Each of Capital Partners and Management Co. VII disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.
4. F4. Paul R. Vigano is a Managing Member of Equity Partners VII, a Member of Project Iliad and a Senior Managing Director of Capital Partners. As a result, the undersigned may be deemed to share voting and dispositive power with respect to the Shares held by the Stockholder Entities. The undersigned disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Key Figures

Total shares sold: 3,000,000 shares Sale price: $8.01 per share J.H. Whitney VII, L.P. post-sale holdings: 10,112,123 shares +5 more

8 metrics

Total shares sold 3,000,000 shares Aggregate open-market or private sales on June 30, 2026

Sale price $8.01 per share Price for each reported sale transaction of common stock

J.H. Whitney VII, L.P. post-sale holdings 10,112,123 shares Indirect common stock holdings after June 30, 2026 sales

JHW Iliad Holdings LLC post-sale holdings 1,813,795 shares Indirect Aveanna common stock after reported sales

JHW Iliad Holdings II LLC post-sale holdings 190,130 shares Indirect Aveanna common stock after reported sales

PSA Healthcare Investment Holdings LLC holdings 15,523,810 shares Indirect Aveanna common stock position reported as holding entry

PSA Iliad Holdings LLC holdings 1,426,034 shares Indirect Aveanna common stock position reported as holding entry

Direct holdings of Paul R. Vigano 0 shares Direct common stock position following transactions

Key Terms

open-market sale, beneficial ownership, voting and dispositive power, pecuniary interest, +1 more

5 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

beneficial ownership financial

"disclaims beneficial ownership of such securities except to the extent"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

voting and dispositive power financial

"may be deemed to share voting and dispositive power with respect to the Shares"

pecuniary interest financial

"disclaims beneficial ownership of such securities except to the extent of its pecuniary interest"

indirect ownership financial

"ownership_type": "indirect""

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 12:14 PM Accepted by SEC EDGAR 07/02/2026 - 12:13 PM Learn about SEC filing dates

FAQ

What insider-related entities sold Aveanna Healthcare (AVAH) shares in this Form 4?

The Form 4 shows JHW Iliad Holdings II LLC, JHW Iliad Holdings LLC, and J.H. Whitney VII, L.P. selling Aveanna common stock. These are investment entities associated with Paul R. Vigano through various J.H. Whitney-affiliated management structures described in the footnotes.

How many Aveanna Healthcare (AVAH) shares were sold and at what price?

Affiliated entities reported selling a total of 3,000,000 shares of Aveanna Healthcare common stock on June 30, 2026. Each sale transaction lists a price of $8.01 per share, coded as open-market or private sale transactions under transaction code "S".

What Aveanna Healthcare (AVAH) holdings remain after the reported sales?

After the sales, JHW Iliad Holdings II LLC held 190,130 shares, JHW Iliad Holdings LLC held 1,813,795 shares, and J.H. Whitney VII, L.P. held 10,112,123 shares. Additional indirect holdings include 1,426,034 shares at PSA Iliad Holdings LLC and 15,523,810 shares at PSA Healthcare Investment Holdings LLC.

Does Paul R. Vigano personally hold Aveanna Healthcare (AVAH) shares after this Form 4?

The Form 4 reports zero direct holdings for Paul R. Vigano after these transactions. All reported positions are indirect, held through various LLCs and limited partnerships, while Vigano may be deemed to share voting and dispositive power through his roles with those entities.

How does the Form 4 describe beneficial ownership and control for Aveanna (AVAH) shares?

Footnotes state that J.H. Whitney management entities and Paul R. Vigano may be deemed to share voting and dispositive power over shares held by the stockholder entities. Each such entity and Vigano disclaims beneficial ownership except to the extent of its or his pecuniary interest.

Were there any derivative or option transactions in this Aveanna Healthcare (AVAH) Form 4?

The summarized data show no derivative transactions, with zero derivative exercise count and no options or similar instruments listed. All reported activity consists of non-derivative common stock positions and open-market or private sale transactions coded "S" for common shares.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

VIGANO PAUL R

(Last) (First) (Middle)

C/O J.H. WHITNEY CAPITAL PARTNERS, LLC

212 ELM STREET

(Street)

NEW CANAAN CONNECTICUT 06840

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Aveanna Healthcare Holdings, Inc. [ AVAH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.01 par value								0	D(4)
Common Stock, $0.01 par value	06/30/2026		S		2,419,035	D	$8.01	10,112,123	I	By J.H. Whitney VII, L.P.(1)
Common Stock, $0.01 par value								15,523,810	I	By PSA Healthcare Investment Holdings LLC(1)
Common Stock, $0.01 par value	06/30/2026		S		525,844	D	$8.01	1,813,795	I	By JHW Iliad Holdings LLC(2)
Common Stock, $0.01 par value								1,426,034	I	By PSA Iliad Holdings LLC(1)
Common Stock, $0.01 par value	06/30/2026		S		55,121	D	$8.01	190,130	I	By JHW Iliad Holdings II LLC(2)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. J.H. Whitney Equity Partners VII, LLC ("Equity Partners VII") is the general partner of J.H. Whitney VII, L.P. ("JHW VII") and Whitney Strategic Partners VII, L.P. ("Strategic Partners VII"). Strategic Partners VII is the managing member of each of PSA Healthcare Investment Holdings LLC ("PSA Healthcare") and PSA Iliad Holdings LLC ("PSA Iliad Holdings"). As a result, Equity Partners VII may be deemed to share voting and dispositive power with respect to shares of common stock, $0.01 par value per share (the "Shares"), held by each of JHW VII, PSA Healthcare and PSA Iliad Holdings, and Strategic Partners VII may be deemed to share voting and dispositive power with respect to the Shares held by each of PSA Healthcare and PSA Iliad Holdings. Each of Equity Partners VII and Strategic Partners VII disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.

2. Project Iliad Managing Member, LLC ("Project Iliad") is the managing member of JHW Iliad Holdings LLC ("JHW Iliad"). As a result, Project Iliad may be deemed to share voting and dispositive power with respect to the Shares held by JHW Iliad. Project Iliad disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.

3. J.H. Whitney Capital Partners, LLC ("Capital Partners") is the sole member of J.H. Whitney VII Management Co., LLC ("Management Co. VII"), which is the managing member of JHW Iliad Holdings II LLC ("JHW Iliad II," and, collectively with PSA Healthcare, JHW Iliad, and PSA Iliad Holdings, the "Stockholder Entities"). As a result, each of Capital Partners and Management Co. VII may be deemed to share voting and dispositive power with respect to the Shares held by JHW Iliad II. Each of Capital Partners and Management Co. VII disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.

4. Paul R. Vigano is a Managing Member of Equity Partners VII, a Member of Project Iliad and a Senior Managing Director of Capital Partners. As a result, the undersigned may be deemed to share voting and dispositive power with respect to the Shares held by the Stockholder Entities. The undersigned disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

	/s/ David Zatlukal, Attorney-in-Fact	07/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)