Kennametal (KMT) VP Michelle Keating Exercises Options, Receives Award

What Happened

• Michelle R. Keating, Vice President of Kennametal Inc., exercised options and received a separate equity award. On 2026-08-14 she exercised options that resulted in 3,996 common shares acquired at a $31.22 exercise price (cost = $124,755). To cover tax withholding, 7,774 shares were disposed on the same date at $31.22 for proceeds of $242,704. The underlying option shares converted/surrendered as part of the exercise. On 2026-08-15 she was granted an award of 8,354 derivative shares (no cash price).

Key Details

• Transaction dates and prices:
  • 2026-08-14: Exercise of derivative/options for 3,996 shares @ $31.22 (total exercise cost $124,755).
  • 2026-08-14: Tax withholding/settlement: 7,774 shares disposed @ $31.22 (proceeds $242,704).
  • 2026-08-14: Conversion/surrender of 3,996 option units (reported as derivative disposition @ $0).
  • 2026-08-15: Grant/award of 8,354 derivative shares @ $0.
• Transaction codes explained: M = option exercise/conversion, F = shares withheld/ disposed to satisfy tax liability, A = award/grant.
• Shares owned after the transactions are not specified in the filing itself. Footnote: holdings reported include 78.85 shares held in the Kennametal 401(k) Plan.
• Footnotes: F2 indicates a 1-for-1 conversion; F3 notes the award vests in three equal annual installments beginning on the first anniversary of the grant (subject to continued employment).
• Filing timing: Reported on 2026-08-18 for transactions on 2026-08-14/15; no late filing flag was indicated in the report.

Context

• This was primarily an option exercise combined with tax withholding: some exercised shares were retained (net acquired) while others were surrendered/withheld to cover taxes — a common, routine method to satisfy tax obligations on option exercises (a cashless-style outcome for taxes).
• The 8,354-share award is a derivative/time-based award with multi-year vesting (three equal annual installments), not an immediate open-market purchase. These awards reflect compensation, not a straightforward market "buy" signal.