Zay Richard H. 4

What Happened

• Richard H. Zay, Chief Commercial Officer of Tennant Company (TNC), had 840 shares withheld to satisfy tax withholding obligations related to an equity award/option event. The filing shows the shares were disposed (withheld) at $61.03 per share, for a total value of $51,265.
• This was a tax-withholding disposition (code F), not an open-market sale — a routine administrative action following vesting or option exercise rather than a directional trade.

Key Details

• Transaction date: 2026-02-28
• Price per share: $61.03; shares involved: 840; total value: $51,265
• Transaction code: F (payment of exercise price or tax liability — shares withheld)
• Form filed with SEC: 2026-03-03 (Period of Report: 2026-02-28)
• Shares owned after transaction: not specified in the summary of the filing
• Filing timeliness: no late-filing flag provided in the information supplied

Context

• Shares withheld to cover taxes are common after option exercises or restricted stock vesting and do not represent an open-market sale — they are generally administrative and do not necessarily signal the insider’s view of the stock.
• For investors tracking insider activity, purchases or open-market sales can be more informative than tax-withholding dispositions like this one.