Kennametal (KMT) director awarded 697.076 stock credits as compensation
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
DIETRICH DOUGLAS T
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Credits | 697.076 | $36.94 | $26K |
Holdings After Transaction:
Stock Credits — 11,306.515 shares (Direct, null)
Footnotes (1)
- 1 for 1 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 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
Stock credits granted: 697.076 stock credits
Grant reference price: $36.94 per stock credit
Total stock credits after grant: 11,306.5153 stock credits
+2 more
5 metrics
Stock credits granted
697.076 stock credits
Grant/award reported on Form 4
Grant reference price
$36.94 per stock credit
Reported transaction price per stock credit
Total stock credits after grant
11,306.5153 stock credits
Holdings following reported transaction
Underlying common stock linkage
1-for-1
Each stock credit linked to one share of common stock
Dividend reinvestment additions
38.163 and 22.724 stock credits
Credits from dividend reinvestment features of Kennametal plans
Key Terms
Stock Credits, dividend reinvestment feature, change of control, Directors Stock Incentive Plan, +1 more
5 terms
Stock Credits financial
"The stock credits become payable in common stock..."
dividend reinvestment feature financial
"Includes 38.163 stock credits acquired pursuant to a dividend reinvestment feature..."
change of control financial
"payable in common stock (i) in the event of a change of control of the company..."
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.
Directors Stock Incentive Plan financial
"Kennametal Inc. Directors Stock Incentive Plan, as amended..."
Rule 16a-11 regulatory
"plan available to its shareholders that satisfies the requirement of Rule 16a-11..."
FAQ
What insider transaction did Kennametal (KMT) director Douglas T. Dietrich report?
Kennametal director Douglas T. Dietrich reported receiving a grant of 697.076 stock credits as compensation. Each stock credit is linked 1-for-1 to Kennametal common stock and is not an open-market purchase or sale, but part of the company’s director incentive arrangements.
How many stock credits does the Kennametal (KMT) director hold after this Form 4?
Following the reported grant, the director holds 11,306.5153 stock credits in total. This figure includes the new 697.076-credit award plus credits accumulated previously, including those acquired through dividend reinvestment features in Kennametal’s stock incentive plans.
When do the Kennametal (KMT) stock credits become payable in common stock?
The stock credits become payable in Kennametal common stock upon a change of control of the company or when the director ceases to be a director, described as retirement, unless he has elected a different timing for receiving the underlying shares after retirement.
Are the Kennametal (KMT) stock credits granted to the director tied to a specific price?
Yes. The 697.076 stock credits are reported at $36.94 per credit. This reflects the reference price used for reporting the compensation award and does not represent an open-market trade, but rather the value basis for the stock credit grant.
Do dividend reinvestment features affect the Kennametal (KMT) director’s stock credits?
Yes. The total stock credits include amounts acquired through dividend reinvestment features of Kennametal stock incentive plans. These features add fractional stock credits when dividends are paid, increasing the director’s credited balance over time without separate open-market transactions.