Kennametal (KMT) Director Lorraine Martin Exercises Options, Receives RSUs

What Happened
Lorraine M. Martin, a director of Kennametal Inc. (KMT), exercised stock options on 2026-08-14 to acquire 2,299 shares at an exercise price of $31.22 per share (total outlay $71,775). To cover tax withholding, 186 of those shares were surrendered (disposed) at the same $31.22 per-share value (value ~$5,807). The exercise involved surrender of the underlying derivative/options (reported as a $0 disposition). On 2026-08-15 she was granted 4,965 restricted stock units (RSUs) (reported as derivative awards subject to vesting).

Key Details

• Transaction dates: 2026-08-14 (option exercise and tax withholding); 2026-08-15 (RSU grant).
• Exercise price: $31.22 per share; 2,299 shares acquired for $71,775. Tax withholding: 186 shares surrendered valued at ~$5,807.
• Derivative conversion: 1-for-1 conversion (footnote F1). The option/derivative instrument was surrendered on exercise (reported as disposed at $0).
• RSU grant: 4,965 RSUs (footnote F2) are time-based and will be disbursed in three equal installments beginning on the first anniversary of the grant.
• Shares owned after the transactions are not disclosed in the provided filing.
• Filing date: 2026-08-18. The transactions occurred 2026-08-14/15, so this Form 4 appears to have been filed after the typical 2-business-day reporting window (timeliness flagged as late).

Context

• Code meanings: M = exercise/conversion of a derivative (options); F = shares withheld to cover exercise price or tax liability; A = award/grant (RSUs).
• The exercise resulted in an acquisition of shares (not an immediate open-market sale); the withholding of 186 shares for taxes is a routine settlement method and not a market sale signal.
• The RSU award is subject to vesting, so those shares are not immediately tradable. As always, these filings report actions by insiders but do not explain motivation.