Kewaunee Scientific Insider Receives FY26 RSU Grant

Rhea-AI Filing Summary

On 25 June 2025, Kewaunee Scientific Corp. (ticker KEQU) filed a Form 4 reporting that its Vice President – Sales & Marketing (Americas), Ryan S. Noble, received an equity award of 4,380 restricted stock units (RSUs) coded “A” (acquired from the issuer at no cost). Each RSU represents the contingent right to receive one common share.

The award is split 50/50 between (a) service-based RSUs that vest in three equal annual installments beginning 30 June 2026, and (b) performance-based RSUs that vest only if three-year performance goals are achieved. No cash value or exercise price is attached; the grant price is listed as $0.

After the transaction, Noble directly beneficially owns 4,380 derivative securities; no changes to non-derivative share ownership were disclosed. The filing, signed by attorney-in-fact Donald T. Gardner III on 27 June 2025, reports no sales, disposals, or additional acquisitions beyond this RSU grant.

The disclosure signals routine executive compensation rather than an open-market purchase or sale, and does not contain earnings data or other corporate developments.

Insights

Corporate Governance Analyst

TL;DR: Routine RSU grant; aligns VP incentives, minimal share dilution, neutral for shareholders.

This Form 4 documents a standard FY26 equity award rather than a discretionary purchase. At 4,380 units, the grant is modest relative to Kewaunee Scientific’s roughly 2.8 million shares outstanding, implying dilution below 0.2%. Half the award is performance-conditioned, which strengthens pay-for-performance alignment but also defers any ownership increase until goals are met. Because no shares were sold and no cash changed hands, there is no immediate liquidity signal. Overall, the filing is governance-routine and financially immaterial to the company’s capital structure.

Small-Cap Portfolio Manager

TL;DR: Insider award is neutral; too small to influence valuation or trading strategy.

From a portfolio perspective, a 4,380-unit RSU grant does not alter float or insider sentiment meaningfully. The absence of open-market buying or selling removes any directional clue. Investors may note the three-year performance component as a soft positive for alignment, but the award’s scale and vesting timeline render the event non-impactful to near-term price action.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Noble Ryan S.

(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)
	VP-Sales & Marketing-Americas

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025

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

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
Restricted Stock Units FY26	(1)	06/25/2025		A		4,380		(2)	(2)	Common Stock	4,380	$0	4,380	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.

2. The award of restricted stock units shall vest as follows: (a) 50% of the number of restricted stock units subject to the award consist of service-based restricted stock units that vest in three equal annual installments beginning June 30, 2026, subject to the reporting person's continued employment with the Company; and (b) 50% of the number of restricted stock units subject to the award consist of performance-based restricted stock units that will vest only if performance goals are achieved over a three-year period. The actual number of units (if any) received under this award will depend on continued employment and actual performance over the three-year performance period.

Remarks:

	/s/ Donald T. Gardner III, Attorney-in-fact	06/27/2025
	** 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 RSUs were granted to KEQU executive Ryan S. Noble?

The Form 4 shows a grant of 4,380 restricted stock units on 25 June 2025.

What are the vesting terms of the FY26 RSUs reported by KEQU?

50% vest in three equal annual installments from 30 June 2026; the other 50% vest only if three-year performance targets are achieved.

Did the insider pay anything for the KEQU RSUs?

No. The RSUs were acquired at a stated price of $0 as part of an equity compensation plan.

Were any KEQU common shares sold in this Form 4 filing?

No sales or disposals were reported; the filing only records the award of RSUs.

What is the insider’s ownership after the reported KEQU transaction?

The insider directly holds 4,380 derivative securities (RSUs) following the transaction.