KADANT INC — Director's Dealing 2020

Jul 1, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KADANT INC (KAI)
CIK: 0000886346
Period of Report: 2020-06-30

Reporting Person: PAINTER JONATHAN W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-06-30	Common Stock	M	5340	—	Acquired	22502	Direct
2020-06-30	Common Stock	F	2369	$97.19	Disposed	20133	Direct
2020-06-30	Common Stock	M	1118	—	Acquired	21251	Direct
2020-06-30	Common Stock	F	496	$97.19	Disposed	20755	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-06-30	Restricted Stock Unit	$0.0	M	5340	Disposed	2021-04-30	Common Stock (5340.0)	Direct
2020-06-30	Restricted Stock Unit	$0.0	M	1118	Disposed	2021-04-30	Common Stock (1118.0)	Direct
2020-07-01	Restricted Stock Unit	$0.0	A	1042	Acquired	2021-01-31	Common Stock (1042.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3	Indirect

Footnotes

F1: The shares represent the settlement under a performance-based Restricted Stock Unit ("RSU") award granted March 7, 2018. Pursuant to the terms of an executive transition agreement between the reporting person and the Issuer dated February 13, 2019 ("Transition Agreement"), the vesting of the reporting person's outstanding RSUs was accelerated such that the RSUs vested and became distributable in full on June 30, 2020, the retirement date of the reporting person as an executive officer. The shares of common stock underlying such RSUs were converted to common stock on a one-for-one basis on the vesting date.

F2: The shares represent the settlement under a time-based RSU award granted March 7, 2018. Pursuant to the terms of the Transition Agreement, the vesting of the reporting person's oustanding RSUs was accelerated, such that RSUs vested and became distributable in full on June 30, 2020, the retirement date of the reporting person as an executive officer. The shares of common stock underlying such RSUs were converted to common stock on a one-for-one basis on the vesting date.

F3: Each Restricted Stock Unit ("RSU") represents the right to receive one share of the Issuer's common stock. The RSU vests in two equal installments on the last day of each of the Issuer's third and fourth quarters of fiscal 2020 provided the recipient continues to serve as a director of the Issuer.