LAMBERT WILLIAM M 4

What Happened
William M. Lambert, a director of Kennametal Inc. (KMT), exercised options on February 18, 2026, resulting in the acquisition of 14,000 common shares at an exercise price of $20.87 (total exercise cost $292,180). To cover tax withholding, 7,485 of those shares were surrendered/disposed at $39.04 each (proceeds ≈ $292,214). The filing also records the conversion/cancellation of the derivative option instrument.

Key Details

• Transaction date: 2026-02-18
• Exercise (code M): 14,000 shares acquired @ $20.87 = $292,180
• Tax withholding (code F): 7,485 shares disposed @ $39.04 = $292,214 (sell-to-cover)
• Derivative conversion: 14,000 derivative units disposed @ $0.00 (reflects option conversion)
• Net shares received: 14,000 − 7,485 = 6,515 shares retained
• Shares owned after transaction: Not specified in the filing
• Footnote: Option vests/exercisable in three equal annual installments beginning March 1, 2016 (F1)
• Filing timeliness: Reported on 2026-02-19 for a 2026-02-18 transaction (not marked late)

Context
This was an option exercise with a sell-to-cover tax withholding — a common administrative step that converts options into shares while surrendering some shares to meet tax obligations. Such transactions are routine for insiders exercising vested options and do not by themselves indicate a buy or sell opinion on the stock.