Windley David 4

What Happened

• David Windley, a director of Tennant Company (TNC), exercised stock options on Feb 26, 2026 to acquire 4,245 shares (707 shares at $52.42 and 3,538 shares at $54.70) for a combined exercise cost of $230,590. On the same day he sold 3,694 shares in an open-market transaction at $63.86 per share for $235,899. The Form 4 shows the related option instruments were surrendered upon exercise (derivative dispositions reported at $0).

Key Details

• Transaction date: 2026-02-26
• Options exercised: 707 shares @ $52.42 ($37,061) and 3,538 shares @ $54.70 ($193,529); total exercise cost $230,590
• Open-market sale: 3,694 shares @ $63.86 = $235,899
• Net shares retained from these transactions: +551 shares (4,245 acquired − 3,694 sold). The filing does not list total shares beneficially owned after the transaction.
• Footnotes: Sale was effected to cover taxes due on the option exercise (tax withholding); the options were fully vested.
• Filing timeliness: No late filing indicator noted on the Form 4.

Context

• This was an option exercise with a partial immediate sale to cover tax obligations (a common “cashless” or tax-withholding practice). The director kept the remaining net shares rather than selling all acquired shares.
• Such tax-covering sales are routine and don't necessarily indicate a change in the insider’s view of the company.