Sec Form 4 Filing - Fulmer Hugh Andrew @ American Outdoor Brands, Inc. - 2020-08-24

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Fulmer Hugh Andrew 2. Issuer Name and Ticker or Trading Symbol American Outdoor Brands, Inc. [ AOUT] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) See Remarks (Last) (First) (Middle) 1800 NORTH ROUTE Z 3. Date of Earliest Transaction (MM/DD/YY) 08/24/2020 (Street) COLUMBIA, MO65202 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Stock 08/24/2020 J( 1 ) 7,857 A $ 0 7,857 D Common Stock 08/25/2020 J 8,982 ( 2 ) ( 3 ) ( 4 ) A $ 0 16,839 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Performance Rights ( 5 ) 08/24/2020 J( 6 ) 8,012 ( 5 ) 05/01/2024 Common Stock 8,012 $ 0 8,012 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Fulmer Hugh Andrew 1800 NORTH ROUTE Z COLUMBIA, MO65202 See Remarks Signatures /s/ Douglas V. Brown, as attorney-in-fact 08/27/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )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"). ( 2 )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; ( 3 )(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 ( 4 )(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. ( 5 )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. ( 6 )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.

Remarks: The reporting person is the Executive Vice President, Chief Financial Officer, and Treasurer.

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).

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