LEONARD THOMAS C 4

What Happened Thomas C. Leonard, a director of Kadant Inc. (KAI), was granted 513 restricted stock units (RSUs) on 2026-03-11. The Form 4 reports a $0.00 per-unit acquisition price (typical for RSU grants, which require no cash payment at grant); the award is a derivative grant representing a right to receive shares upon vesting.

Key Details

• Transaction date: 2026-03-11; Form 4 filed 2026-03-12 (timely).
• Transaction type/code: Award/Grant (A); 513 RSUs reported at $0.00 per unit.
• Shares owned after transaction: Not disclosed on the filing.
• Footnote: Each RSU equals the right to one share. The RSUs vest in equal installments on the last day of each quarter of fiscal 2026, conditional on continued service as a director.
• No 10b5-1, tax-withholding, or late-filing notes were indicated on the filing.

Context RSUs are compensation awards that convert into common stock only when they vest; they are routine for directors and do not indicate an immediate market purchase or sale. The economic value received will depend on Kadant’s stock price at each vesting date.