LEONARD THOMAS C 4

What Happened

• Thomas C. Leonard, a director of Kadant Inc. (KAI), received 129 shares on April 4, 2026 through the conversion/vesting of a restricted stock unit (RSU) award. The filing records a derivative conversion (code M) for 129 shares; no cash was paid or received (price shown as $0.00), indicating these shares were issued on vesting rather than bought or sold on the open market.

Key Details

• Transaction date: April 4, 2026; Form 4 filed April 6, 2026 (timely).
• Reported entries: 129 shares acquired via derivative conversion (M); a matching 129-share derivative entry at $0.00 is shown in the filing.
• Shares owned after transaction: not specified in the provided filing details.
• Footnote: Partial vesting of an RSU award dated March 11, 2026; remaining shares vest in equal installments on the last day of each Kadant fiscal quarter in 2026, subject to continued service as a director.

Context

• Code M denotes an exercise or conversion of a derivative security — in this case the vesting/conversion of RSUs into common shares. This was receipt of vested shares (an award vesting event), not an open-market purchase or sale, and does not directly signal a buy/sell judgment by the insider.