Richard S. Smith Jr - Feb 16, 2024 Form 4 Insider Report for KAMAN Corp (KAMN)

Role: SVP GEN COUNSEL & SECRETARY
Signature: /s/ Richard S. Smith, Jr.
Stock symbol: KAMN
Transactions as of: Feb 16, 2024
Transactions value $: -$7,233
Form type: 4
Date filed: 2/20/2024, 09:01 PM
Previous filing: Dec 6, 2023
Next filing: Feb 21, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KAMN	Kaman Common Stock	Options Exercise	$131K	+3.34K	+11.62%	$39.22	32.1K	Feb 16, 2024	Direct	F1
transaction	KAMN	Kaman Common Stock	Tax liability	-$138K	-3.07K	-9.56%	$45.04	29K	Feb 16, 2024	Direct	F2

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	KAMN	Stock Options (Right to buy)	Options Exercise	$0	-3.34K	-100%	$0.00^*	0	Feb 16, 2024	Kaman Common Stock	3.34K	$39.22	Direct	F3
holding	KAMN	Performance-Based Restricted Stock Unit						13K	Feb 16, 2024	Kaman Common Stock	13K	$0.00	Direct	F4
holding	KAMN	Performance-Based Restricted Stock Unit						2.12K	Feb 16, 2024	Kaman Common Stock	2.12K	$0.00	Direct	F5
holding	KAMN	Performance-Based Restricted Stock Unit						1.45K	Feb 16, 2024	Kaman Common Stock	1.45K	$0.00	Direct	F6
holding	KAMN	Stock Options (Right to buy)						7.64K	Feb 16, 2024	Kaman Common Stock	7.64K	$64.48	Direct	F3
holding	KAMN	Stock Options (Right to buy)						7.05K	Feb 16, 2024	Kaman Common Stock	7.05K	$61.02	Direct	F3
holding	KAMN	Stock Options (Right to buy)						7.58K	Feb 16, 2024	Kaman Common Stock	7.58K	$62.46	Direct	F3
holding	KAMN	Stock Options (Right to buy)						8.43K	Feb 16, 2024	Kaman Common Stock	8.43K	$51.97	Direct	F3
holding	KAMN	Stock Options (Right to buy)						8.1K	Feb 16, 2024	Kaman Common Stock	8.1K	$42.86	Direct	F3
holding	KAMN	Stock Options (Right to buy)						4.31K	Feb 16, 2024	Kaman Common Stock	4.31K	$39.54	Direct	F3

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

Explanation of Responses:

Id	Content
F1	The activity reported herein reflects the net settlement of options pursuant to the Kaman Corporation 2013 Management Incentive Plan, a Rule 16b-3 qualified plan. The options would otherwise expire in accordance with their terms on February 19, 2024.
F2	Represents the number of shares withheld by the issuer to satisfy the exercise price and income tax withholding and remittance obligations in connection with the net settlement of options, as permitted by the Kaman Corporation 2013 Management Incentive Plan and does not represent a sale by the reporting person.
F3	Exercisable at the rate of 20% per year, generally beginning one year after grant date; expires ten (10) years after grant. All options are issued under the Corporation's 16b-3 qualified stock incentive plans. The Plans include a feature which permits the exercise price for an option to be paid by withholding a portion of the shares otherwise issuable upon exercise.
F4	Represents performance-based restricted share units ("PSUs") granted under the Kaman Corporation Amended and Restated 2013 Management Incentive Plan, a Rule 16b-3 qualified plan. Each PSU represents a contingent right to receive one share of the common stock, par value $1.00 per share, of the Company. The number of PSUs that may be earned is between 0% and 200% of the target number of PSUs and shall vest based on ROIC and relative TSR performance over the three-year performance period ending on December 31, 2025. The indicated number of PSUs assumes 100% vesting at target. The actual number of shares issued in settlement of the PSUs may be more or less than the indicated number.
F5	Represents PSUs granted under the Kaman Corporation Amended and Restated 2013 Management Incentive Plan, a Rule 16b-3 qualified plan. Each PSU represents a contingent right to receive one share of the common stock, par value $1.00 per share, of the Company. The number of PSUs that may be earned is between 0% and 200% of the target number of PSUs and shall vest based on ROIC and relative TSR performance over the three-year performance period ending on December 31, 2024. The indicated number of PSUs assumes 100% vesting at target. The actual number of shares issued in settlement of the PSUs may be more or less than the indicated number.
F6	Represents PSUs granted under the Kaman Corporation Amended and Restated 2013 Management Incentive Plan, a Rule 16b-3 qualified plan. Each PSU represents a contingent right to receive one share of the common stock, par value $1.00 per share, of the Company. The number of PSUs that may be earned is between 0% and 200% of the target number of PSUs and shall vest based on ROIC and relative TSR performance over the three-year performance period ending on December 31, 2023. The indicated number of PSUs assumes 100% vesting at target. The actual number of shares issued in settlement of the PSUs may be more or less than the indicated number.