Megan A. Morgan - Feb 20, 2024 Form 4 Insider Report for KAMAN Corp (KAMN)

Role: VP-HR & CHRO
Signature: /s/ Megan A. Morgan
Stock symbol: KAMN
Transactions as of: Feb 20, 2024
Transactions value $: $31,877
Form type: 4
Date filed: 2/21/2024, 05:09 PM
Previous filing: Dec 6, 2023
Next filing: Mar 4, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KAMN	Kaman Common Stock	Award	$0	+2.03K	+15.91%	$0.00	14.8K	Feb 20, 2024	Direct	F1
transaction	KAMN	Kaman Common Stock	Options Exercise	$50.8K	+1.12K	+7.58%	$45.28	15.9K	Feb 20, 2024	Direct	F2
transaction	KAMN	Kaman Common Stock	Tax liability	-$18.9K	-417	-2.62%	$45.28	15.5K	Feb 20, 2024	Direct	F3

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	Performance-Based Restricted Stock Unit	Award	$0	+2.03K		$0.00	2.03K	Feb 20, 2024	Kaman Common Stock	2.03K	$0.00	Direct	F4
transaction	KAMN	Performance-Based Restricted Stock Unit	Options Exercise	$0	-1.12K	-100%	$0.00^*	0	Feb 20, 2024	Kaman Common Stock	1.12K	$0.00	Direct	F2
holding	KAMN	Performance-Based Restricted Stock Unit						5.13K	Feb 20, 2024	Kaman Common Stock	5.13K	$0.00	Direct	F5
holding	KAMN	Performance-Based Restricted Stock Unit						3.13K	Feb 20, 2024	Kaman Common Stock	3.13K	$0.00	Direct	F6
holding	KAMN	Stock Options (Right to buy)						3.98K	Feb 20, 2024	Kaman Common Stock	3.98K	$64.48	Direct	F7
holding	KAMN	Stock Options (Right to buy)						3.68K	Feb 20, 2024	Kaman Common Stock	3.68K	$61.02	Direct	F7

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

Explanation of Responses:

Id	Content
F1	Represents a restricted stock award granted under the Kaman Corporation Second Amended and Restated 2013 Management Incentive Plan, a Rule 16b-3 qualified plan. Restrictions lapse at the rate of 33 1/3% per year, beginning March 1 of the year following the grant date.
F2	Represents the settlement of performance-based restricted share units ("PSUs") under the Kaman Corporation Amended and Restated 2013 Management Incentive Plan, a Rule 16b-3 qualified plan. The number of PSUs was previously reported as 2,060 at 100% target and the amount herein reflects the final number of PSUs earned based on ROIC and relative TSR performance over the three-year performance period ending on December 31, 2023.
F3	Represents shares withheld from a vested PSU to satisfy tax withholding obligations, as permitted by the Company's Amended and Restated 2013 Management Incentive Plan, a Rule 16b-3 qualified plan.
F4	Represents PSUs granted under the Kaman Corporation Second 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, 2026. 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, 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.
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, 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.
F7	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.