Tennant Co (TNC) director exercises options, sells shares to cover taxes

Rhea-AI Filing Summary

Tennant Company director Azita Arvani exercised stock options for 3,538 shares of common stock on February 27, 2026, converting a derivative award into directly held shares. The options were fully vested at the time of exercise.

On the same day, Arvani sold 3,156 common shares in open-market transactions at a weighted average price of $61.4048 per share to cover taxes due on the option exercise, while retaining the net shares. After these transactions, Arvani directly owned 17,435 Tennant common shares.

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

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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^*

Arvani Azita

(Last) (First) (Middle)

10400 CLEAN STREET

(Street)

EDEN PRAIRIRE MN 55344

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TENNANT CO [ TNC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		M		3,538	A	$54.7	20,591	D
Common Stock	02/27/2026		S		3,156(1)	D	$61.4048(2)	17,435	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
Stock Option (right to buy)	$54.7	02/27/2026		M			3,538	(3)	04/28/2026	Common Stock	3,538	$0	0	D

Explanation of Responses:

1. The sale of shares reported on this Form 4 was effected to cover the taxes due upon the reporting person's exercise of a stock option expiring in the near term, with the reporting person retaining the net shares.

2. Reflects the weighted average price of 3,156 shares of common stock of Tennant Company sold by the reporting person in multiple transactions on February 27, 2026 with sale prices ranging from $61.40 to $61.46 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

3. Fully vested.

	/s/ Kristin A. Erickson on behalf of Azita Arvani	03/02/2026
	** 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).
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FAQ

What insider transactions did Tennant Co (TNC) director Azita Arvani report?

Director Azita Arvani reported exercising options for 3,538 Tennant Co shares and selling 3,156 common shares on February 27, 2026. The sale was described as covering taxes from the option exercise, with Arvani retaining the remaining net shares afterward.

How many Tennant Co (TNC) shares did Azita Arvani sell and at what price?

Azita Arvani sold 3,156 Tennant Co common shares in open-market transactions at a weighted average price of $61.4048 per share. A filing footnote notes individual sale prices ranged between $61.40 and $61.46 across multiple trades on February 27, 2026.

Why did Tennant Co (TNC) director Azita Arvani sell shares after exercising options?

The filing states the 3,156-share sale was effected to cover taxes due on Arvani’s near-term stock option exercise. According to the disclosure, Arvani retained the remaining net shares received from exercising the fully vested stock option award.

How many Tennant Co (TNC) shares does Azita Arvani own after the reported transactions?

Following the February 27, 2026 transactions, Azita Arvani directly owned 17,435 Tennant Co common shares. This post-transaction holding reflects both the exercise of 3,538 stock options and the sale of 3,156 shares described as covering related tax obligations.

What type of derivative security did Tennant Co (TNC) director Azita Arvani exercise?

Azita Arvani exercised a stock option, described as a “Stock Option (right to buy),” for 3,538 shares. The transaction is coded as an exercise or conversion of a derivative security, and the option was reported as fully vested at the time of exercise.