MCKENNEY MICHAEL J 4

What Happened
Michael J. McKenney, Executive Vice President & Chief Financial Officer of Kadant Inc. (KAI), was granted two restricted stock unit (RSU) awards on March 10, 2026: 2,367 RSUs and 592 RSUs, a total of 2,959 RSUs. Both awards are recorded as derivative awards at $0.00 (no cash paid at grant). RSUs represent the right to receive one share each upon vesting.

Key Details

• Transaction date: 2026-03-10 (reported same day).
• Awards: 2,367 RSUs and 592 RSUs; total = 2,959 RSUs; grant price $0.00 (derivative award).
• Filing: Period of Report and filing date are 2026-03-10 (timely).
• Shares owned after transaction: Not specified in the supplied filing text.
• Footnotes of note:
  • F1: Filing notes inclusion of 72 shares acquired via the company Employee Stock Purchase Plan on Dec 30, 2025.
  • F2: One RSU award vests in three equal installments beginning March 10, 2027, subject to certain fiscal 2026 performance requirements and continued employment; maximum payout may be up to 150% of the RSU amount.
  • F3: The other RSU vests and becomes distributable in three annual installments beginning March 10, 2027, subject to continued employment on each vesting date.

Context
RSUs are compensation awards, not open-market purchases or sales; they convert to shares only if vesting and performance/service conditions are met. Grants are routine executive compensation and do not necessarily signal a near-term trading intent. The F2 performance multiplier (up to 150%) means the final number of shares delivered could be higher if performance targets are met.