Westerhout Fredrik H 4

What Happened

• Fredrik H. Westerhout, Vice President of Kadant Inc. (KAI), received two restricted stock unit (RSU) awards on March 10, 2026: 1,105 RSUs and 276 RSUs. Both were granted at $0.00 (no cash paid) and are derivative awards representing the right to receive common shares upon vesting. Total RSUs granted = 1,381.

Key Details

• Transaction date: March 10, 2026; transaction type: Award/Grant (code A); price: $0.00.
• Vesting: Both RSUs vest in three annual installments beginning March 10, 2027, subject to conditions.
  • The 1,105 RSU award is performance‑based (may deliver up to 150% of the RSU amount depending on fiscal 2026 performance and continued employment) (Footnote F1).
  • The 276 RSU award is time‑based and vests in three annual installments with continued employment (Footnote F2).
• Shares owned after the transaction: not specified in the filing.
• Filing timeliness: Report filed March 10, 2026 (same‑day reporting), which appears timely.

Context

• These are awards, not open‑market purchases or sales; no shares were delivered immediately. RSUs convert into actual shares only if and when vesting conditions are met, so this grant does not represent an immediate change in share ownership or a cash transaction.
• The performance RSU can result in more shares (up to 150% of the award) if specified company targets are met; otherwise vesting will follow the stated schedule and conditions.