Kewaunee Scientific insider sale: CFO trims stake by 17%

Rhea-AI Filing Summary

Kewaunee Scientific Corp. (KEQU) – Form 4 filed 07/28/2025 reports two open-market sales by CFO Donald T. Gardner III on 07/24/2025.

• Sold 2,096 common shares at a weighted avg. $58.34 (range $58.00-$58.97).
• Sold 904 common shares at a weighted avg. $59.18 (range $59.00-$59.45).
• Total shares sold: 3,000; estimated proceeds ≈ $175k.
• Direct ownership dropped from 17,564 to 14,564 shares, a reduction of roughly 17%.

No derivative transactions were reported and the filing offers no commentary on the purpose of the sales.

Positive

• None.

Negative

• CFO reduced direct shareholding by approximately 17% through open-market sales of 3,000 shares
• Filing provides no explanation for the insider’s decision to sell, leaving motives unclear

Insights

Securities Analyst

CFO’s 3,000-share sale signals potential caution; magnitude modest but timing near $59 raises sentiment questions.

The transaction trims the CFO’s stake by ~17%, yielding about $175k. Insider sales from key executives often create negative sentiment, particularly for thin-float stocks such as KEQU. Absence of option exercise or stated diversification motive limits benign interpretations. While ownership remains at 14,564 shares, the reduced alignment could prompt short-term pressure and warrants monitoring of future insider activity.

Corporate Governance Expert

Executive sale modest in size but transparency limited; governance impact marginal.

Gardner disclosed the weighted-average price ranges as required, yet provided no narrative context. The lack of complementary derivative activity suggests a straightforward cash sale. From a governance standpoint, the sale is within reporting norms, but investors will note the reduced equity stake when assessing management alignment with shareholder interests.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Gardner Donald T. III

(Last) (First) (Middle)

2700 WEST FRONT STREET

(Street)

STATESVILLE NC 28677

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KEWAUNEE SCIENTIFIC CORP /DE/ [ KEQU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/24/2025		S		2,096	D	$58.34(1)	15,468	D
Common Stock	07/24/2025		S		904	D	$59.18(2)	14,564	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $58.00 to $58.97 inclusive. The reporting person undertakes to provide Kewaunee Scientific Corporation ("Kewaunee"), any security holder of Kewaunee, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $59.00 to $59.45 inclusive. The reporting person undertakes to provide Kewaunee Scientific Corporation ("Kewaunee"), any security holder of Kewaunee, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

	/s/ Donald T. Gardner III	07/28/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many KEQU shares did the CFO sell on 07/24/2025?

The filing shows sales of 3,000 common shares across two transactions.

At what prices were the KEQU shares sold?

Weighted-average prices were $58.34 (range $58.00-$58.97) for 2,096 shares and $59.18 (range $59.00-$59.45) for 904 shares.

How many KEQU shares does the CFO now own?

After the transactions, Donald T. Gardner III directly owns 14,564 shares.

Did the insider report any derivative security transactions?

No; Table II contains no derivative transactions.

What percentage of the CFO’s previous holdings was sold?

Based on the filing data, the sale represents roughly 17% of his prior direct holdings.