[Form 3] Avanos Medical, Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Scott M. Galovan, SVP and Chief Financial Officer of Avanos Medical, reported beneficial ownership of 111,009 shares of common stock on Form 3 filed for the 08/01/2025 event. Of those shares, 80,718 are unvested time-based restricted share units that vest on scheduled dates through August 1, 2028. The filing also lists employee stock options totaling 26,582 underlying shares with varying exercise prices and vesting/exercise dates.

Positive

• Significant reported stake: 111,009 shares indicate meaningful insider ownership
• Long-term alignment: 80,718 TRSUs vesting through 2028 align executive incentives with shareholders

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine insider ownership disclosure showing management alignment without material corporate events.

The Form 3 discloses an insider stake of 111,009 shares, heavily weighted toward unvested TRSUs (80,718), plus 26,582 underlying option shares across multiple grant vintages and exercise prices from $15.24 to $52.10. This is a standard initial Section 16 filing for a senior executive and does not, by itself, indicate material corporate developments or liquidity events. The mix of long-dated and near-term vesting schedules implies ongoing incentive alignment over 2026–2028.

Corporate Governance Expert

TL;DR: Disclosure confirms executive equity compensation structure and staged vesting, typical for governance alignment.

The report confirms that the CFO holds a significant equity position primarily through TRSUs and stock options, with explicit vesting schedules through 2028. From a governance perspective, the presence of time-based restricted share units and multi-year option vesting supports long-term alignment between management and shareholders. No departures, new grants beyond those listed, or related-party transactions are disclosed in this filing.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Galovan Scott Michael

(Last) (First) (Middle)

5405 WINDWARD PARKWAY

SUITE 100

(Street)

ALPHARETTA GA 30004

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/01/2025

3. Issuer Name and Ticker or Trading Symbol
AVANOS MEDICAL, INC. [ AVNS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Financial Officer

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	111,009(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	(2)	05/05/2026	Common Stock	580	$29.48	D
Employee Stock Option (right to buy)	(3)	05/03/2027	Common Stock	1,263	$36.74	D
Employee Stock Option (right to buy)	(4)	05/03/2028	Common Stock	1,096	$52.1	D
Employee Stock Option (right to buy)	(5)	05/08/2029	Common Stock	1,078	$43.59	D
Employee Stock Option (right to buy)	(6)	05/07/2030	Common Stock	1,527	$28.87	D
Employee Stock Option (right to buy)	(7)	03/07/2035	Common Stock	21,038	$15.24	D

Explanation of Responses:

1. Of these shares, 80,718 are represented by unvested time-based restricted share units (TRSUs) awarded pursuant to the Issuer's 2021 Long Term Incentive Plan, as amended. These TRSUs will vest as follows: (i) 7,821 on March 6, 2026; (ii) 3,235 on March 7, 2026; (iii) 12,225 on April 22, 2026; (iv) 13,661 on August 1, 2026; (v) 5,330 on March 6, 2027; (vi) 3,236 on March 7, 2027; (vii) 13,661 on August 1, 2027; (viii) 3,334 on March 7, 2028; and (ix) 18,215 on August 1, 2028. Each TRSU is the economic equivalent of one share of Common Stock.

2. These options vested 30% on May 5, 2017, 30% on May 5, 2018, and 40% on May 5, 2019.

3. These options vested 30% on May 3, 2018, 30% on May 3, 2019, and 40% on May 3, 2020.

4. These options vested 30% on May 3, 2019, 30% on May 3, 2020, and 40% on May 3, 2021.

5. These options vested 30% on May 8, 2020, 30% on May 8, 2021, and 40% on May 8, 2022.

6. These options vested 30% on May 7, 2021, 30% on May 7, 2022, and 40% on May 7, 2023.

7. These options will vest 30% on March 7, 2026, 30% on March 7, 2027 and 40% on March 7, 2028.

Remarks:

	/s/ Mojirade James, as attorney-in-fact for Scott M. Galovan pursuant to Power of Attorney filed herewith	08/22/2025
	** 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 5 (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.
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FAQ

What did Scott M. Galovan report on the Form 3 for AVNS?

He reported beneficial ownership of 111,009 shares of Avanos Medical common stock, including 80,718 unvested TRSUs and stock options underlying 26,582 shares.

When is the event date listed on the Form 3 for AVNS?

The date of the event requiring the statement is 08/01/2025.

How many of the reported shares are unvested TRSUs and when do they vest?

The filing states 80,718 shares are TRSUs, with vesting installments on multiple dates through August 1, 2028 (specific tranche dates are listed in the filing).

What stock options are disclosed by the reporting person?

Employee stock options cover 26,582 underlying shares with exercise prices ranging from $15.24 to $52.10 and exercisable/expiration dates between 05/05/2026 and 03/07/2035.

What is the reporting person’s role at Avanos Medical?

The reporting person is identified as SVP, Chief Financial Officer and a director.