KE Insider Filing: Chief Accounting Officer Reports Vesting, 1,767 Shares Withheld
Rhea-AI Filing Summary
Adam M. Baumann, Chief Accounting Officer of Kimball Electronics, Inc. (KE), reported multiple equity transactions dated 08/27/2025. Performance-based shares granted under the 2023 Equity Incentive Plan vested on that date, resulting in 2,592 shares acquired at $0 and 1,561 restricted shares treated as acquired; 1,767 shares were withheld to satisfy tax obligations at an indicated price of $27.97. After these transactions Mr. Baumann beneficially owned 9,294 shares directly and 1,407 indirectly via a retirement fund, with restricted shares scheduled to vest in August 2026, 2027 and 2028 per the filing. The Form 4 was signed by an attorney-in-fact on 08/29/2025.
Positive
- Performance-based awards vested upon committee certification, converting conditional grants into common shares at $0 issuance price
- Staggered restricted share vesting through 2026-2028 supports retention incentives
- Officer increased direct beneficial ownership to 9,294 shares following the transactions
Negative
- 1,767 shares were withheld to satisfy tax obligations, recorded as a disposition at $27.97, reducing net shares received
- Some restricted shares are forfeitable if the reporting person ceases employment for reasons other than death, disability, or retirement
Insights
TL;DR Officer recorded vesting of performance and restricted shares with tax-withholding disposition; overall ownership modestly increased.
The filing documents routine equity compensation activity for a senior officer: performance-based awards vested upon committee certification and resulted in issuance of shares at no cash price, while a portion of shares was withheld to satisfy taxes, reflected as a disposition at $27.97. The officer retains direct and indirect holdings, with staggered future vesting for remaining restricted shares. This is a standard Section 16 filing that updates beneficial ownership rather than disclosing any new strategic or operational development.
TL;DR Vesting reflects compensation plan mechanics; withholding for taxes reduces net issuance but preserves executive ownership incentives.
The entry shows performance shares certified by the board committee and restricted share vesting schedules aligned with multi-year retention conditions. The withheld shares to cover taxes are recorded as a sale/disposition at a stated price, which is a common administrative outcome of vesting events. The remaining restricted shares carry forfeiture conditions if employment ceases before vesting, which is standard for retention-focused equity grants.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Shares | 1,561 | $0.00 | -- |
| Grant/Award | Restricted Shares | 3,755 | $0.00 | -- |
| Exercise | Common Stock | 1,561 | $0.00 | -- |
| Grant/Award | Common Stock | 2,592 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,767 | $27.97 | $49K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Reflects performance based shares granted pursuant to the Issuer's 2023 Equity Incentive Plan which vested on August 27, 2025 upon the achievement of certain performance criteria certified by the Talent, Culture, and Compensation Committee of the Board of Directors of the Issuer. Shares withheld to satisfy tax obligations. Represents Restricted Shares granted in prior years that vested on August 27, 2025 (1,561 shares). Represents Restricted Shares which vest in August 2026 (1,252 shares), August 2027 (1,252 shares), and August 2028 (1,251 shares). The Restricted Shares expire if the reporting person ceases employment for any reason other than death, disability, or retirement. Not Applicable. Represents cumulative Restricted Shares that vest August 2026 (2,438 shares), August 2027 (2,098 shares), and August 2028 (1,251 shares).
