DOAR MICHAEL 4

What Happened
Director Michael Doar received a grant of 475 restricted shares of Twin Disc, Inc. (TWIN) on 2026-05-01. The shares were issued at a reported value of $17.12 per share, for a total value of $8,132. This was an award (grant), not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-05-01 at $17.12 per share (total $8,132)
• Transaction type/code: Award/Grant (A) — restricted stock issued
• Vesting/conditions: Footnote states shares were issued in lieu of a quarterly cash retainer under the Twin Disc 2021 Omnibus Incentive Plan and will vest on the first anniversary of issuance
• Shares owned after transaction: Not reported on this Form 4
• Filing timeliness: Period of report equals transaction date; no late filing indicated

Context
This was a restricted stock grant issued instead of a cash retainer, a common form of compensation for board members. Such awards are compensation, not straightforward purchases or sales, and they generally do not by themselves indicate an insider's market view. Vesting conditions mean the shares are subject to forfeiture until they vest.