Langevin Eric T. - 31 Mar 2022 Form 4 Insider Report for KADANT INC (KAI)

Role
Executive Vice President & COO
Signature
/s/ Stacy D. Krause, by power of attorney
Issuer symbol
KAI
Transactions as of
31 Mar 2022
Net transactions value
-$162,889
Form type
4
Filing time
01 Apr 2022, 08:22:24 UTC
Previous filing
11 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAI Common Stock Options Exercise +1,488 +4.7% 33,409 31 Mar 2022 Direct F1
transaction KAI Common Stock Tax liability $128,905 -660 -2% $195.31 32,749 31 Mar 2022 Direct
transaction KAI Common Stock Options Exercise +392 +1.2% 33,141 31 Mar 2022 Direct F2
transaction KAI Common Stock Tax liability $33,984 -174 -0.53% $195.31 32,967 31 Mar 2022 Direct

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 KAI Restricted Stock Unit Options Exercise $0 -1,488 -100% $0.000000* 0 31 Mar 2022 Common Stock 1,488 $0.000000 Direct F1
transaction KAI Restricted Stock Unit Options Exercise $0 -392 -100% $0.000000* 0 31 Mar 2022 Common Stock 392 $0.000000 Direct F2
transaction KAI Restricted Stock Unit Disposed to Issuer $0 -2,976 -100% $0.000000* 0 31 Mar 2022 Common Stock 2,976 $0.000000 Direct F3
transaction KAI Restricted Stock Unit Disposed to Issuer $0 -496 -100% $0.000000* 0 31 Mar 2022 Common Stock 496 $0.000000 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Langevin Eric T. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The shares represent the settlement under a performance-based Restricted Stock Unit ("RSU") award granted March 2, 2020. Pursuant to the terms of an executive transition agreement between the reporting person and the Issuer dated October 27, 2021 ("Transition Agreement"), the vesting of the reporting person's outstanding RSUs was accelerated, such that the RSUs vested and became distributable in full on March 31, 2022, the termination date of the reporting person. The shares of common stock underlying such RSUs were converted to common stock on a one-for-one basis on the vesting date.
F2 The shares represent the settlement under a time-based RSU award granted March 2, 2020. Pursuant to the terms of the Transition Agreement, the vesting of the reporting person's outstanding RSUs was accelerated, such that the RSUs vested and became distributable in full on March 31, 2022, the termination date of the reporting person. The shares of common stock underlying such RSUs were converted to common stock on a one-for-one basis on the vesting date.
F3 The shares represent the forfeiture under a performance-based RSU award granted March 9, 2021.
F4 The shares represent the forfeiture under a time-based RSU award granted March 9, 2021.