Avanos Medical Appoints New CFO, Steven Ramey

TL;DR

AVNS names Steven Ramey new CFO, starting July 1st. He gets $475k salary + bonus + $1.5M in RSUs.

AI Summary

On June 28, 2024, Avanos Medical, Inc. announced the appointment of Steven L. Ramey as its new Chief Financial Officer, effective July 1, 2024. Ramey will receive an annual base salary of $475,000 and will be eligible for a target annual bonus of 75% of his base salary. He will also receive a one-time grant of restricted stock units (RSUs) valued at $1,500,000.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $475,000 — CFO Base Salary (Annual compensation for Steven L. Ramey)
• 75% — CFO Target Bonus (Potential bonus as a percentage of base salary for Steven L. Ramey)
• $1.5M — CFO RSU Grant (Value of the one-time restricted stock unit award to Steven L. Ramey)

Key Players & Entities

• Avanos Medical, Inc. (company) — Registrant
• Steven L. Ramey (person) — Appointed Chief Financial Officer
• $475,000 (dollar_amount) — Annual base salary for new CFO
• 75% (dollar_amount) — Target annual bonus percentage for new CFO
• $1,500,000 (dollar_amount) — Value of one-time RSU grant for new CFO
• June 28, 2024 (date) — Date of report and appointment announcement
• July 1, 2024 (date) — Effective date for new CFO

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock - $0.01 Par Value AVNS New York Stock Exchange
• $70,000 — receive: (i) an annual cash retainer of $70,000 for her service on the Board; (ii) annu
• $12,500 — Board; (ii) annual cash compensation of $12,500 for her service on the Audit Committee;
• $7,500 — ttee; (iii) annual cash compensation of $7,500 for her service on the Compliance Commi
• $190,000 — restricted share units with a value of $190,000. In addition, the Company will reimburs

Filing Documents

• avns-20240628.htm (8-K) — 30KB
• avns07012024form8k_ex991.htm (EX-99.1) — 9KB
• avanoslogo.jpg (GRAPHIC) — 15KB
• avns-20240628_g1.jpg (GRAPHIC) — 15KB
• 0001606498-24-000069.txt ( ) — 228KB
• avns-20240628.xsd (EX-101.SCH) — 2KB
• avns-20240628_lab.xml (EX-101.LAB) — 23KB
• avns-20240628_pre.xml (EX-101.PRE) — 13KB
• avns-20240628_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On July 1, 2024, the Company issued a press release announcing the appointment of Ms. Franchini to the Board. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information presented in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, unless the Company specifically states that the information is to be considered "filed" under the Exchange Act or specifically incorporates it by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K: Exhibit No. Description 99.1 Press Release issued by Avanos Medical, Inc. on July 1, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AVANOS MEDICAL, INC. Date: July 1, 2024 By: /s/ Mojirade James Mojirade James Senior Vice President and General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR