Ranade Mandar 4
4 · KEWAUNEE SCIENTIFIC CORP /DE/ · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Kewaunee (KEQU) SVP Ranade Receives RSUs and Sells Shares
What Happened
Ranade Mandar, Senior Vice President, IT & Engineering at Kewaunee Scientific (KEQU), had multiple RSU/derivative settlements on June 30, 2026. The filing shows conversion/exercise entries totaling 7,227 shares at $0.00 (derivative conversions). Per the filing footnotes, 3,627 performance-based RSUs were settled at 150% of target and, together with 518 service-based RSUs, resulted in the reporting person receiving 4,159 shares. The reporting person elected cash in lieu for 1,800 shares. Separately, 1,800 shares were disposed to the issuer at $36.25 per share for $65,250, and 1,877 shares were surrendered/withheld to cover tax liabilities (payment valued at $68,041).
Key Details
- Transaction date: June 30, 2026; filing date: July 2, 2026.
- Sale/Disposition price: $36.25 per share for the 1,800-share disposition and the 1,877-share tax withholding.
- Cash proceeds: 1,800 shares sold for $65,250; 1,877 shares withheld for taxes valued at $68,041.
- Shares received from settlement: 4,159 shares (service- and performance-based RSU settlements). The reporting person also received cash in lieu of 1,800 RSU shares.
- Footnotes: F2 explains the performance RSUs vested at 150% and how shares vs. cash in lieu were distributed; F1 notes service-based RSUs convert one-for-one; F3–F5 summarize prior RSU grant vesting schedules.
- Filing timeliness: Form 4 was filed July 2, 2026 for a June 30, 2026 transaction (appears to be timely).
Context
- These entries reflect RSU settlements and routine dispositions to cover cash elections and tax withholding rather than an open-market sale as a directional bet.
- Transaction codes: M = exercise/conversion of derivative (RSU conversion), D = disposition to the issuer (sale), F = payment of tax liability (shares withheld).
- For retail investors: award settlements and the related automatic or elected share sales/withholdings are common and do not necessarily signal management sentiment; purchases would be a stronger bullish indicator.
Insider Transaction Report
Form 4
Ranade Mandar
SVP, IT & Engineering
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2026-06-30+7,227→ 19,892 total - Disposition to Issuer
Common Stock
2026-06-30$36.25/sh−1,800$65,250→ 18,092 total - Tax Payment
Common Stock
2026-06-30$36.25/sh−1,877$68,041→ 16,215 total - Exercise/Conversion
Restricted Stock Units FY24
[F1][F2][F3]2026-06-30−4,159→ 0 total→ Common Stock (5,959 underlying) - Exercise/Conversion
Restricted Stock Units FY25
[F1][F4]2026-06-30−536→ 2,945 total→ Common Stock (536 underlying) - Exercise/Conversion
Restricted Stock Units FY26
[F1][F5]2026-06-30−732→ 3,660 total→ Common Stock (732 underlying)
Footnotes (5)
- [F1]Service-based restricted stock units ("RSUs") convert to common stock on a one-for-one basis.
- [F2]On June 30, 2026, 3,627 of the reporting person's performance-based RSUs were settled following certification of performance results for the applicable performance period, which resulted in the performance-based RSUs vesting at 150% of target. In the settlement, the reporting person received (a) 3,641 shares and (b) pursuant to an election made by the reporting person, cash in settlement of RSUs otherwise entitling the reporting person to receive 1,800 shares. In addition, on June 30, 2026, 518 of the reporting person's service-based RSUs vested. Accordingly, the reporting person received 4,159 shares in the aggregate as a result of the settlement of these RSUs, as well as a payment in cash in lieu of 1,800 shares.
- [F3]On June 28, 2023, the reporting person was granted RSUs that vest as follows: (a) 30% of the number of RSUs subject to the award consisted of service-based RSUs that vested in three equal annual installments beginning on June 30, 2024, subject to the reporting person's continued employment with the Company, and (b) 70% of the number of RSUs subject to the award consisted of performance based RSUs that vested only if performance goals were achieved over a three-year period. The actual number of shares (if any) received upon settlement of the performance-based RSUs depended on continued employment and actual performance over the three-year period.
- [F4]On June 28, 2024, the reporting person was granted RSUs that vest as follows: (a) 40% of the number of RSUs subject to the award consisted of service-based RSUs that vest in three equal annual installments beginning on June 30, 2025, subject to the reporting person's continued employment with the Company, and (b) 60% of the number of RSUs subject to the award consisted of performance based RSUs that vest only if performance goals were achieved over a three-year period. The actual number of shares (if any) received upon settlement of the performance-based RSUs depends on continued employment and actual performance over the three-year period.
- [F5]On June 25, 2025, the reporting person was granted RSUs that vest as follows: (a) 50% of the number of RSUs subject to the award consisted of service-based RSUs that vested in three equal annual installments beginning on June 30, 2026, subject to the reporting person's continued employment with the Company, and (b) 50% of the number of RSUs subject to the award consisted of performance based RSUs that vested only if performance goals were achieved over a three-year period. The actual number of shares (if any) received upon settlement of the performance-based RSUs depends on continued employment and actual performance over the three-year period.
Signature
/s/ Donald T. Gardner III, Attorney-in-fact|2026-07-02