Kennametal (KMT) CEO Sanjay Chowbey Exercises Options, Receives RSUs

What Happened

• Sanjay Chowbey, President and CEO of Kennametal (KMT), exercised options on 2026-08-14 to acquire 25,372 shares at $31.22 per share for a total exercise value of $792,114. To cover taxes, 19,156 shares were withheld (disposed) at the same strike value for $598,050. The option/derivative was converted on a 1-for-1 basis. On 2026-08-15 he was granted 54,969 restricted stock units (RSUs).

Key Details

• Transaction dates and prices:
  • 2026-08-14: Exercise (M) — 25,372 shares at $31.22 ($792,114)
  • 2026-08-14: Tax withholding (F) — 19,156 shares withheld at $31.22 ($598,050)
  • 2026-08-14: Derivative conversion/disposition — 25,372 units converted/disposed (1-for-1)
  • 2026-08-15: Grant (A) — 54,969 RSUs (no cash price)
• Net immediate cash/share result: exercised 25,372 shares, had 19,156 withheld — net ~6,216 shares retained.
• Shares/ownership after transactions: not specified in the excerpt; filing notes 540.35 shares are held in the Kennametal 401(k) plan (Footnote F1).
• Footnotes of note:
  • F2: conversion was 1-for-1.
  • F3: RSUs are time‑based and vest in three equal annual installments starting one year after grant, subject to continued employment.
• Filing timeliness: Transaction dated 2026-08-14 was reported on 2026-08-18. This filing appears timely (filed within the required 2 business days).

Context

• This was an option exercise with shares withheld to cover tax obligations (common “cashless” or net-share settlement practice), not an open-market sale for cash. The grant of 54,969 RSUs is a compensation award subject to multi-year vesting and does not represent immediately tradable shares. As always, these filings are factual disclosures of transactions and do not by themselves indicate the insider’s future view of the company.