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).

1. Name and Address of Reporting Person* Fulmer Hugh Andrew (Last) (First) (Middle) 1800 NORTH ROUTE Z (Street) COLUMBIA MO 65202 (City) (State) (Zip)	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
	3. Date of Earliest Transaction (Month/Day/Year) 08/24/2020
	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 Stock	08/24/2020		J(1)		7,857	A	$0.00	7,857	D
Common Stock	08/25/2020		J		8,982(2)(3)(4)	A	$0.00	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 (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
Performance Rights	(5)	08/24/2020		J(6)		8,012		(5)	05/01/2024	Common Stock	8,012	$0.00	8,012	D

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.

	/s/ Douglas V. Brown, as attorney-in-fact	08/27/2020
	** 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).
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