Hugh Andrew Fulmer - 08 Jul 2025 Form 4 Insider Report for American Outdoor Brands, Inc. (AOUT)

Role: EVP, CFO & Treasurer
Signature: /s/ Seth A. Christensen, as Attorney-in-Fact
Issuer symbol: AOUT
Transactions as of: 08 Jul 2025
Net transactions value: -$66,563
Form type: 4
Filing time: 10 Jul 2025, 21:46:56 UTC
Previous filing: 07 May 2025
Next filing: 23 Sep 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Fulmer Hugh Andrew	EVP, CFO & Treasurer	1800 N ROUTE Z, COLUMBIA	/s/ Seth A. Christensen, as Attorney-in-Fact	10 Jul 2025	0001817761

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AOUT	Common Stock	Options Exercise	$0	+22,404	+20%	$0.000000	136,078	08 Jul 2025	Direct	F1
transaction	AOUT	Common Stock	Tax liability	$66,563	-6,545	-4.8%	$10.17	129,533	08 Jul 2025	Direct	F2
transaction	AOUT	Common Stock	Award	$0	+13,325	+10%	$0.000000	142,858	08 Jul 2025	Direct	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AOUT	Performance Rights	Options Exercise		-22,404	-100%		0	08 Jul 2025	Common Stock	22,404		Direct	F1
transaction	AOUT	Performance Rights	Award		+26,650			26,650	08 Jul 2025	Common Stock	26,650		Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each performance right represents a contingent right to receive one share of the Issuer's common stock. The performance rights vest based on stock price performance over a three-year performance period. The number of shares to be delivered is the maximum number of shares that may be delivered pursuant to the award.
F2	Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations associated with the settlement of performance rights.
F3	One third of the restricted stock units shall vest and be delivered, net of withholding, on July 9, 2026, May 1, 2027, and May 1, 2028.
F4	Each performance right represents a contingent right to receive one share of the issuer's stock. The performance rights vest based on cumulative adjusted EBITDA and average return on invested capital metrics over a three-year performance period. The number represents the maximum number of shares that may be delivered pursuant to the award, which is two times the target number of shares.