EICHER CAROL S 4

What Happened
Carol S. Eicher, a director of Tennant Company (TNC), exercised stock options on Feb 26, 2026 and sold a portion of the shares to cover taxes. She exercised 3,538 options at an exercise price of $54.70 per share (total cost $193,529). Concurrently she sold 3,130 shares in an open-market transaction at $61.98 per share, generating $193,997 in proceeds. Per the filing footnote, the sale was effected to cover taxes due on the option exercise and the reporting person retained the net shares — 3,538 exercised minus 3,130 sold = 408 net shares retained. The options were fully vested.

Key Details

• Transaction date: 2026-02-26; Form 4 filed 2026-03-02 (filing shows the transactions for Feb 26).
• Exercise: 3,538 options exercised at $54.70 each; aggregate exercise cost $193,529. (Derivative reported disposed at $0 indicates the options were converted/exercised.)
• Sale: 3,130 shares sold on the open market at $61.98 each; proceeds $193,997. Footnote F1: sale effected to cover taxes from the exercise.
• Footnote F2: the options were fully vested.
• Shares owned after transaction: not specified in the provided filing excerpt.

Context
This is a common sell-to-cover (cashless) exercise: the director exercised vested options and sold just enough shares to cover tax obligations, retaining the net shares. Such transactions typically reflect routine tax/option management rather than a directional view on the stock; no 10b5-1 plan or late-filing flag is indicated in the provided excerpt.