Ranade Mandar 4

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.