Kennametal (KMT) director awarded 697.076 stock credits as compensation
Rhea-AI Filing Summary
DIETRICH DOUGLAS T reported acquisition or exercise transactions in this Form 4 filing.
KENNAMETAL INC director Douglas T. Dietrich received a grant of 697.076 stock credits, each tied 1-for-1 to common stock, on stock credits dated as of the transaction date. The grant is priced at $36.94 per credit and is structured as a compensation award, not an open-market purchase.
After this award, he holds a total of 11,306.5153 stock credits. These credits become payable in common stock if there is a change of control of the company or when he retires from the board, unless he has elected a different timing. The total includes additional stock credits accumulated through dividend reinvestment features of Kennametal incentive plans.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Credits | 697.076 | $36.94 | $26K |
Footnotes (3)
- F1. 1 for 1
- F2. The stock credits become payable in common stock (i) in the event of a change of control of the company or (ii) on the date that the reporting person ceases (other than by death) to be a director ("retirement"), unless the reporting person has elected to receive the common stock represented by the stock credits following retirement
- F3. Includes 38.163 stock credits acquired pursuant to a dividend reinvestment feature of the Kennametal Inc. Stock Incentive Plan of 2002 and 22.724 stock credits acquired pursuant to a dividend reinvestment feature of the Kennametal Inc. Directors Stock Incentive Plan, as amended. The company maintains a separate dividend reinvestment plan available to its shareholders that satisfies the requirement of Rule 16a-11 of the Securities and Exchange Act of 1934, as amended
Key Figures
Key Terms
Stock Credits financial
dividend reinvestment feature financial
change of control financial
Directors Stock Incentive Plan financial
Rule 16a-11 regulatory
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