[Form 4] Bausch + Lomb Corporation Insider Trading Activity

Rhea-AI Filing Summary

Nutriband Inc. (Nasdaq: NTRB) filed a Form 8-K announcing two capital-structure actions.

Item 3.02 – Unregistered Sales: On 5 Aug 2025 the company issued a stock dividend of 3,008,643 non-voting Series A Convertible Preferred shares to shareholders of record as of 25 Jul 2025, at one preferred share for every four common shares. Fractional shares were rounded down. The shares are restricted and held by Equinity Trust until they become convertible and are registered for trading.

Item 5.03 – Charter Amendment: The Board, acting under Nevada law without shareholder approval, created the Series A class on 9 Jul 2025 and later increased the authorization to 10 million shares via a Certificate of Correction filed 21 Jul 2025. Each Series A share will convert 1-for-1 into common stock only after FDA approval of AVERSA-based transdermal products. Preferred holders are entitled to any dividends declared on either the preferred or common classes.

The dividend rewards current shareholders but, if fully issued and converted, could significantly expand the common share base once regulatory milestones are achieved.

Positive

• 3,008,643 Series A Preferred shares issued as a free dividend, giving existing holders upside linked to FDA approval.
• Conversion is contingent on regulatory success, aligning potential dilution with a value-creating milestone.

Negative

• Authorization of up to 10 million convertible preferred shares introduces substantial future dilution risk once conditions are met.
• Series A class was created and issued without shareholder approval, raising possible governance concerns.

Insights

Financial Analyst

TL;DR: Dividend grants optionality now, but authorizing 10 M convertible preferred sets stage for post-FDA dilution; overall neutral impact.

The 3.0 M Series A shares distributed at no cost immediately enhance shareholder upside should AVERSA products secure FDA approval. Conversion is conditional, so no dilution occurs until a value-creating catalyst materialises. However, expanding the authorization to 10 M shares raises the ceiling for future dilution and signals management’s intent to preserve financing flexibility. Because the Board acted without a shareholder vote, governance-focused investors may scrutinise the move. Near-term cash flows remain unchanged; impact hinges entirely on regulatory outcomes, keeping the news fundamentally neutral at this stage.

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^*

Munsch Frederick

(Last) (First) (Middle)

C/O BAUSCH + LOMB CORPORATION

520 APPLEWOOD CRESCENT

(Street)

VAUGHAN A6 L4K 4B4

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bausch & Lomb Corp [ BLCO ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Controller and CAO

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

4. 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 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 Shares, No Par Value	08/05/2025		A		7,529(1)	A	$0	77,733	D

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. Represents common shares, no par value, of Bausch + Lomb Corporation underlying an award of performance stock units ("PSUs") originally granted to the reporting person on March 1, 2023 under the Bausch + Lomb Corporation 2022 Omnibus Incentive Plan, as amended and restated, that satisfied the applicable performance conditions at the target performance level (100%) as of August 5, 2025. The earned PSUs will vest on March 1, 2026, subject generally to the reporting person's continued employment through such date.

	/s/ Debra E. Levin, attorney-in-fact	08/07/2025
	** 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 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.
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FAQ

What event did Nutriband (NTRB) report in its 8-K dated 5 Aug 2025?

The company disclosed a stock dividend of 3,008,643 Series A Preferred shares and an amendment authorizing up to 10 M such shares.

How many Series A Preferred shares were distributed to shareholders?

3,008,643 shares, issued at a rate of one preferred for every four common shares.

When can the Series A Preferred convert into common stock?

Each share becomes convertible 1-for-1 after FDA approval of AVERSA-based transdermal products.

Are the Series A Preferred shares currently tradeable?

No. They are restricted and held by Equinity Trust until conversion eligibility and SEC registration are completed.

How many Series A Preferred shares are now authorized?

The Board increased the authorization to 10,000,000 shares via a Certificate of Correction filed 21 Jul 2025.

Did shareholders vote on creating the Series A Preferred class?

No. The Board approved the amendment without shareholder action under Nevada statute 78.315.