HULL THOMAS DAVID III 4

What Happened

• Thomas D. Hull III, President & CEO and Director of Kewaunee Scientific (KEQU), had restricted stock units (RSUs) convert into common stock on June 30, 2026. The Form 4 reports a conversion/exercise of 54,388 derivative units into shares.
• As part of the RSU settlement (see footnote F2), Mr. Hull received 30,525 shares and elected cash in lieu of 17,000 shares. The filing shows he surrendered 17,000 shares to the issuer for $36.25 per share (total $616,250) and 16,243 shares were disposed/withheld to satisfy tax withholding at $36.25 per share (total $588,809). Several conversion/disposition line items in the filing reflect the mechanics of the RSU settlement.

Key Details

• Transaction date: June 30, 2026; Form filed July 2, 2026.
• Prices: Dispositions recorded at $36.25 per share (17,000 shares = $616,250; 16,243 shares = $588,809). Conversions reported at $0 (RSU settlement).
• Shares owned after transaction: Not stated in the provided Form 4 summary.
• Notable footnotes: F1 (service RSUs convert 1:1); F2 (performance RSUs settled and vested at 150% of target, resulting in cash election for 17,000 shares and receipt of 30,525 shares); other footnotes (F3–F5) describe vesting schedules of prior RSU grants.
• Filing timeliness: Filed July 2, 2026 (no late filing flagged in this summary).

Context

• These were RSU settlements and related issuer dispositions/cash-in-lieu and tax withholdings — typical mechanics when equity awards vest. Codes: M = exercise/conversion of derivative (RSU conversion), D = disposition to issuer (cash-in-lieu), F = shares withheld for tax liability.
• This was not an open-market sale by the insider; the cash received and tax withholding reflect settlement of vested awards rather than a discretionary market trade. Such transactions often reflect standard compensation vesting rather than a directional trading signal.