Kennametal CEO granted 54,969 RSUs, exercises award
KENNAMETAL INC (KMT) reported insider equity activity by President and CEO Sanjay Chowbey.
Rhea-AI Filing Summary
KENNAMETAL INC (KMT) reported insider equity activity by President and CEO Sanjay Chowbey. He received a grant of 54,969 Restricted Stock Units, each convertible into one share of common stock, subject to time-based vesting in three equal annual installments starting on the first anniversary of the grant. In a related transaction, 25,372 Restricted Stock Units were exercised into 25,372 shares of common stock at $31.22 per share, with 19,156 shares delivered or withheld to cover exercise price or tax liabilities. The Rule 10b5-1 trading-plan box was not checked.
Positive
- None.
Negative
- None.
Insider Trade Summary
25,372 shares exercised/converted
Exercise
4 txns
Insider
Chowbey Sanjay
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units F2, F3 | 54,969 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F2 | 25,372 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 25,372 | $31.22 | $792K |
| Exercise Price or Tax Liability | Common Stock F1 | 19,156 | $31.22 | $598K |
Holdings After Transaction:
Restricted Stock Units — 105,715 contracts (Direct);
Common Stock — 239,839.373 shares (Direct)
Footnotes (3)
- F1. Includes 540.35 shares held in the Kennametal Inc. 401(k) Plan
- F2. 1 for 1
- F3. Restricted stock units are subject to time-based vesting and are disbursed in three equal annual installments commencing on the first anniversary date of the grant date, subject to continued employment with the company
Key Figures
RSU grant: 54,969 units
RSU exercise: 25,372 units
Exercise price: $31.22 per share
+4 more
7 metrics
RSU grant
54,969 units
Restricted Stock Units granted to CEO Sanjay Chowbey, 1-for-1 into common stock
RSU exercise
25,372 units
Restricted Stock Units exercised or converted into common stock
Exercise price
$31.22 per share
Price used for common stock issued upon RSU exercise
Shares withheld for exercise price or tax
19,156 shares
Common shares delivered or withheld to cover exercise price or tax liability
401(k) holdings
540.35 shares
Shares held in the Kennametal Inc. 401(k) Plan included in reported holdings
RSU conversion ratio
1 for 1
Each RSU corresponds to one share of Kennametal common stock
RSU vesting installments
3 annual installments
Time-based vesting schedule starting on first anniversary of grant date
Key Terms
Restricted Stock Units, time-based vesting, exercise or conversion of derivative security, Payment of exercise price or tax liability by delivering or withholding securities
4 terms
Restricted Stock Units financial
"He received a grant of 54,969 Restricted Stock Units, each convertible"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
time-based vesting financial
"Restricted stock units are subject to time-based vesting and are disbursed"
Time-based vesting is a schedule that gives employees or contractors ownership of granted stock or options gradually as they remain with a company, like unlocking rewards in a loyalty program the longer you stick around. For investors, it matters because it affects future share supply, management incentives and staff retention — all of which can influence company performance and dilution of existing shareholders.
exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security"
Payment of exercise price or tax liability by delivering or withholding securities financial
"transaction_code_description": "Payment of exercise price or tax liability by delivering"
FAQ
What equity award did KMT grant to CEO Sanjay Chowbey?
KENNAMETAL INC granted Sanjay Chowbey 54,969 Restricted Stock Units, each exchangeable 1-for-1 into common stock. These RSUs feature time-based vesting and will be disbursed in three equal annual installments starting on the first anniversary of the grant date, subject to continued employment.
What is the vesting schedule of the new RSUs reported for KMT?
The 54,969 RSUs granted to Sanjay Chowbey vest on a time-based schedule. They are disbursed in three equal annual installments, commencing on the first anniversary of the grant date, and are conditioned on his continued employment with KENNAMETAL INC throughout the vesting period.
Were the reported KMT insider transactions under a Rule 10b5-1 plan?
The Form 4 for KENNAMETAL INC shows the Rule 10b5-1 checkbox is not marked, indicating the company did not affirm these transactions as executed under a pre-arranged trading plan. The filing does not otherwise attribute the transactions to a Rule 10b5-1 trading arrangement.
What conversion ratio applies to the RSUs reported for KMT?
The Restricted Stock Units reported for KENNAMETAL INC carry a conversion ratio of 1 for 1, meaning each RSU corresponds to one share of common stock upon settlement, subject to the applicable vesting and disbursement conditions described in the accompanying footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
