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Director at Tennant (NYSE: TNC) sells shares to cover option taxes

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Tennant Company director David Windley exercised stock options and sold shares of common stock. On February 26, 2026, he exercised options covering 707 and 3,538 shares, receiving Tennant common stock at exercise prices of $52.42 and $54.70 per share.

On the same date, he sold 3,694 shares of Tennant common stock in an open-market transaction at $63.86 per share. According to the footnote, this sale was effected to cover taxes due upon the option exercises, with Windley retaining the net shares. After these transactions, his direct ownership was 7,422 Tennant shares.

Positive

  • None.

Negative

  • None.
Insider Windley David
Role Director
Sold 3,694 shs ($236K)
Type Security Shares Price Value
Exercise Stock Option (right to buy) 707 $0.00 --
Exercise Stock Option (right to buy) 3,538 $0.00 --
Exercise Common Stock 707 $52.42 $37K
Exercise Common Stock 3,538 $54.70 $194K
Sale Common Stock 3,694 $63.86 $236K
Holdings After Transaction: Stock Option (right to buy) — 0 shares (Direct); Common Stock — 7,578 shares (Direct)
Footnotes (1)
  1. The sale of shares reported on this Form 4 was effected to cover the taxes due upon the reporting person's exercise of stock options expiring in the near term, with the reporting person retaining the net shares. Fully vested.
Form 4 Insider Transactions: What Each Field Means →
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*
Windley David
(Last) (First) (Middle)
10400 CLEAN STREET
(Street)
EDEN PRAIRIE 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)
02/26/2026
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 02/26/2026 M 707 A $52.42 7,578 D
Common Stock 02/26/2026 M 3,538 A $54.7 11,116 D
Common Stock 02/26/2026 S 3,694(1) D $63.86 7,422 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) $52.42 02/26/2026 M 707 (2) 02/26/2026 Common Stock 707 $0 0 D
Stock Option (right to buy) $54.7 02/26/2026 M 3,538 (2) 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 stock options expiring in the near term, with the reporting person retaining the net shares.
2. Fully vested.
/s/ Kristin A. Erickson on behalf of David Windley 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).
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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Tennant (TNC) director David Windley report?

David Windley reported exercising stock options and selling Tennant shares. He exercised options for 707 and 3,538 shares, then sold 3,694 common shares in an open-market trade on February 26, 2026, primarily to cover taxes associated with the option exercises.

How many Tennant (TNC) shares did David Windley acquire through option exercises?

David Windley acquired 4,245 Tennant common shares through option exercises. He exercised stock options for 707 shares at $52.42 per share and 3,538 shares at $54.70 per share, converting fully vested options into directly held Tennant common stock on February 26, 2026.

How many Tennant (TNC) shares did David Windley sell, and at what price?

He sold 3,694 Tennant common shares at $63.86 per share. The transaction was reported as an open-market or private sale, and a footnote explains the sale was conducted to cover taxes due from exercising stock options expiring in the near term.

Why did Tennant (TNC) director David Windley sell shares after exercising options?

The sale was made to cover taxes owed from the option exercises. A filing footnote states the 3,694-share sale was effected to pay taxes tied to near-term expiring options, and that Windley retained the resulting net Tennant shares from these transactions.

What is David Windley’s Tennant (TNC) share ownership after these transactions?

Following the reported trades, David Windley directly owns 7,422 Tennant common shares. This post-transaction holding figure reflects his ownership after exercising 4,245 shares via options and selling 3,694 shares on February 26, 2026, as disclosed in the Form 4.

Were the Tennant (TNC) stock options exercised by David Windley vested?

Yes, the exercised stock options were fully vested. A footnote in the disclosure specifies that the options converted into Tennant common shares were fully vested, and some were expiring in the near term, prompting the exercise and associated tax-related share sale.