X0306 4 2020-08-24 0 0001808997 American Outdoor Brands, Inc. AOUT 0001817761 Fulmer Hugh Andrew 1800 NORTH ROUTE Z COLUMBIA MO 65202 0 1 0 0 See Remarks Common Stock 2020-08-24 4 J 0 7857 0.00 A 7857 D Common Stock 2020-08-25 4 J 0 8982 0.00 A 16839 D Performance Rights 2020-08-24 4 J 0 8012 0.00 A 2024-05-01 Common Stock 8012 8012 D Smith & Wesson Brands, Inc. ("SWBI") authorized the distribution of 100% of the Issuer's outstanding common stock to holders of SWBI common stock (the "Distribution") as of the close of business on August 10, 2020 (the "Record Date"), with a distribution date of August 24, 2020. In connection with the Distribution, the Reporting Person received one share of the Issuer's common stock for every four shares of SWBI common stock held as of the Record Date (the "Distribution Ratio"). Consists of an aggregate of 8,982 shares of common stock underlying restricted stock units ("RSUs") previously granted by SWBI and converted into RSUs of the Issuer taking into account the Distribution Ratio, which includes (i) 111 shares underlying RSUs, all of which are vested and will be delivered, net of tax withholding, on March 15, 2021; (ii) 314 shares underlying RSUs, all of which are vested and will be delivered, net of tax withholding, on June 15, 2021; (iii) 565 shares underlying RSUs, 279 of which are vested and will be delivered, net of tax withholding, on June 15, 2021 and 286 of which shall vest on June 15, 2021 and be delivered, net of tax withholding, on the anniversary thereof; (Continued from footnote (2)) (iv) 850 shares underlying RSUs, 278 of which are vested and will be delivered, net of tax withholding, on June 15, 2021 and 286 of which shall vest on each of June 15, 2021 and June 15, 2022 and be delivered, net of tax withholding, on the anniversary of the applicable vesting date; (v) 1,136 shares underlying RSUs, 278 of which are vested and will be delivered, net of tax withholding, on June 15, 2021 and 286 of which shall vest on each of June 15, 2021, June 15, 2022, and June 15, 2023 and be delivered, net of tax withholding, on the anniversary of the applicable vesting date; (vi) 2,000 shares underlying RSUs, all of which will vest on March 6, 2021 and will be delivered, net of tax withholding, on March 6, 2022; and (Continued from footnote (3)) (vii) 4,006 shares underlying RSUs, one-quarter of which shall vest on each of the first, second, third, and fourth anniversaries of May 1, 2020 and be delivered, net of tax withholding, on the anniversary of the applicable vesting date. Each performance right represents a contingent right to receive one share of the Issuer's common stock. The performance rights vest based on market cap performance over a three-year performance period beginning on May 1, 2020, and shares, net of tax withholding, will be delivered on the first anniversary of the vesting date. 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. In connection with the Distribution, the Reporting Person received a performance-based restricted stock unit award ("PSU") from the Issuer for each SWBI PSU held as of the Record Date, with the number of target shares for each award determined based on the Distribution Ratio. The reporting person is the Executive Vice President, Chief Financial Officer, and Treasurer. /s/ Douglas V. Brown, as attorney-in-fact 2020-08-27