KE Insider Report: Korn's Performance Shares Vest; Gifts and Tax Withholding Reported
Rhea-AI Filing Summary
Kimball Electronics insider Steven T. Korn reported multiple transactions on 08/27/2025 that changed his holdings. He gifted 3,000 shares to a charitable organization and 1,000 shares to a charitable education organization, and had 13,885 shares withheld to satisfy tax obligations. Performance-based and restricted shares vested: 11,762 performance-based shares and 11,762 previously granted restricted shares vested on that date, and an additional 20,148 performance-based shares were reported as granted/awarded. Following these transactions, Mr. Korn beneficially owned 125,010 shares directly, with 15,752 shares held indirectly in a retirement fund. Some restricted shares remain subject to future vesting schedules and forfeiture conditions if employment terminates.
Positive
- Performance-based shares vested (11,762) after certification by the Talent, Culture, and Compensation Committee
- Net beneficial ownership increased to 125,010 shares following awards and vesting
- Clear retention structure remains via restricted shares that vest across 2026–2028
Negative
- Shares disposed through gifts (3,000 and 1,000 shares) reduced liquid holdings
- 13,885 shares withheld to satisfy tax obligations, decreasing immediate ownership available for sale
Insights
TL;DR: Multiple internal equity events increased beneficial ownership while routine gifts and tax-withholding reduced liquid holdings.
These Form 4 entries document standard executive equity activity: vesting of performance and restricted shares certified by the board committee, donations to charitable organizations, and share withholding for taxes. The filing shows a net increase in reported beneficial ownership to 125,010 shares, indicating compensation realization rather than open-market trading. The restricted share forfeiture conditions and staged vesting schedules remain in place, preserving retention incentives.
TL;DR: Executive received material equity compensation via vested performance and restricted shares, consistent with incentive plan mechanics.
The report discloses that performance criteria were met and certified, triggering vesting of 11,762 performance-based shares plus prior restricted shares, and an award totaling 20,148 performance-based shares. Withholding of 13,885 shares for taxes is customary. The mix of immediate vesting and multi-year restricted tranches aligns with long-term retention design under the 2023 Equity Incentive Plan.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Shares | 11,762 | $0.00 | -- |
| Grant/Award | Restricted Shares | 21,906 | $0.00 | -- |
| Gift | Common Stock | 3,000 | $0.00 | -- |
| Gift | Common Stock | 1,000 | $0.00 | -- |
| Exercise | Common Stock | 11,762 | $0.00 | -- |
| Grant/Award | Common Stock | 20,148 | $0.00 | -- |
| Tax Withholding | Common Stock | 13,885 | $27.97 | $388K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Gifted shares to charitable organization. Gifted shares to charitable education organization. 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 (11,762 shares). Represents Restricted Shares which vest in August 2026 (7,302 shares), August 2027 (7,302 shares), and August 2028 (7,302 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 (25,153 shares), August 2027 (21,860 shares), and August 2028 (15,088 shares).
