KADANT INC — Director's Dealing 2011

Mar 11, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KADANT INC (KAI)
CIK: 0000886346
Period of Report: 2011-03-09

Reporting Person: LAMBERT SANDRA L (VP, GENERAL COUNSEL, SECRETARY)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-10	Common Stock	M	1454	—	Acquired	28214	Direct
2011-03-10	Common Stock	F	462	$24.55	Disposed	27752	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-09	Restricted Stock Unit	$0	A	2909	Acquired	2014-03-10	Common Stock (2909)	Direct
2011-03-09	Stock Option (Right to Buy)	$24.900	A	4188	Acquired	2021-03-09	Common Stock (4188)	Direct
2011-03-10	Restricted Stock Unit	$0	M	1454	Acquired	2013-03-10	Common Stock (1454)	Direct

Footnotes

F1: Each Restricted Stock Unit ("RSU") represents the right to receive one share of the issuer's common stock. The RSU vests in three equal annual installations beginning on March 10, 2012, provided that the issuer meets certain performance requirements for fiscal 2011 and the reporting person is employed by the issuer on the vesting date. The maximum number of shares the reporting person may receive is 150% of the RSU amount.

F2: This stock option vests and becomes exercisable in three equal annual installments beginning on March 9, 2012, provided the reporting person is employed by the issuer on the vesting date.

F3: The shares represent the partial settlement under a RSU award granted 3/3/2010. One-third of the RSU vested on 3/10/2011 and was converted to vested common stock on a one-for-one basis on the vesting date.