KADANT INC — Director's Dealing 2015

Mar 11, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KADANT INC (KAI)
CIK: 0000886346
Period of Report: 2015-03-09

Reporting Person: RAINVILLE WILLIAM A (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-09	Restricted Stock Unit	$0.0	A	5000	Acquired	2016-01-02	Common Stock (5000.0)	Direct
2015-03-09	Restricted Stock Unit	$0.0	A	10000	Acquired	2020-03-28	Common Stock (10000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	63150	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 four installments of 1,250 shares each on the last day of each of the issuer's first, second, third and fourth quarters of fiscal 2015 provided the recipient continues to serve as a director of the issuer.

F2: The Restricted Stock Unit may be settled solely in cash ("Cash-Settled RSU"). Each Cash-Settled RSU is the economic equivalent of one share of common stock of the issuer. The Cash-Settled RSU vests only upon a change-in-control of the issuer that occurs during the period beginning on the first day of the issuer's second quarter of fiscal year 2015 (April 5, 2015) and ending on the last day of the issuer's first quarter of fiscal year 2020 (March 28, 2020). The Cash-Settled RSU is forfeited in the event the recipient ceases to be a director of the issuer for any reason other than a change in control prior to the RSU vesting date.