Kennametal (NYSE: KMT) director receives additional deferred stock credits
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Kennametal Inc. director Douglas T. Dietrich reported an acquisition of stock credits under a company plan. He was granted 642.145 stock credits at a reference price of $40.10 per credit, increasing his directly held stock credits to 10,603.483.
The stock credits are payable in an equal number of common shares either upon a change of control of Kennametal or when he ceases to be a director, subject to his payout election. His balance includes 34.981 stock credits and 17.642 stock credits accumulated through dividend reinvestment features of Kennametal stock incentive plans.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
DIETRICH DOUGLAS T
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Credits | 642.145 | $40.10 | $26K |
Holdings After Transaction:
Stock Credits — 10,603.483 shares (Direct)
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 34.981 stock credits acquired pursuant to a dividend reinvestment feature of the Kennametal Inc. Stock Incentive Plan of 2002 and 17.642 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
FAQ
What did Kennametal (KMT) director Douglas T. Dietrich report on this Form 4?
Kennametal director Douglas T. Dietrich reported receiving 642.145 stock credits as a grant. These credits are part of a company stock incentive plan and increased his directly held stock credits to 10,603.483, reflecting deferred equity-based compensation rather than an open-market stock purchase.
How many stock credits does Douglas Dietrich hold after the latest Kennametal (KMT) grant?
After the latest grant, Douglas Dietrich directly holds 10,603.483 stock credits. This total includes the new 642.145 stock credits and additional amounts accumulated through dividend reinvestment features of Kennametal’s stock incentive plans for directors and participants under earlier programs.
At what reference price were the new Kennametal (KMT) stock credits granted to Douglas Dietrich?
The newly awarded 642.145 stock credits were valued using a reference price of $40.10 per credit. This price is used for reporting the grant’s value and does not indicate an open-market purchase or sale of Kennametal common shares by the director.
When do Douglas Dietrich’s Kennametal (KMT) stock credits become payable in common stock?
The stock credits become payable in Kennametal common stock upon a change of control or when Douglas Dietrich stops serving as a director, other than by death. He may also elect to receive the common shares represented by the stock credits following his retirement from the board.
What role do dividend reinvestment features play in Douglas Dietrich’s Kennametal (KMT) stock credits?
Dietrich’s holdings include 34.981 stock credits and 17.642 stock credits gained through dividend reinvestment features of Kennametal stock incentive plans. Instead of receiving cash dividends, these features credit additional stock units, compounding the value of his deferred equity-based compensation over time.