KADANT INC — fact timeline

KADANT INC shareholders approved Ratification of KPMG LLP as the Company’s independent registered accounting firm for the 2026 fiscal year at the 2026-05-20 meeting.

“The stockholders ratified the selection of KPMG LLP as the Company’s independent registered accounting firm for the 2026 fiscal year.”

KADANT INC shareholders approved Non-binding advisory resolution on the executive compensation of the Company’s named executive officers at the 2026-05-20 meeting.

“The stockholders approved a non-binding advisory resolution on the executive compensation of the Company’s named executive officers.”

KADANT INC shareholders approved Election of two nominees to class of directors whose three-year term expires in 2029 at the 2026-05-20 meeting.

“The stockholders elected two nominees, Dr. John M. Albertine and Mr. Thomas C. Leonard, to the class of directors whose three-year term expires at the Company's annual meeting of stockholders in 2029.”

KADANT INC reported the first quarter ended April 4, 2026 results: revenue $282 million, net income $26 million, EPS $2.16.

“its financial results for the first quarter ended April 4, 2026. First Quarter Financial Highlights • Bookings increased 25% to a record $321 million • Revenue increased 18% to $282 million • Gross margin decreased 110 basis points to 45.0% • Net income increased 6% to $26 million • GAAP EPS increased 6% to $2.16 • Adjusted EPS increased 14% to $2.84 • Adjusted”

KADANT INC entered into Share Purchase and Transfer Agreement with voestalpine High Performance Metals GmbH valued at approximately 157.0 million Euros in cash (effective 2026-01-29).

“On January 29, 2026, Kadant Holdings GmbH, a subsidiary of Kadant Inc., (together, "Kadant" or the "Company") entered into a Share Purchase and Transfer Agreement (the "Acquisition Agreement") with voestalpine High Performance Metals GmbH (the "Seller") for the purchase of the shares of voestalpine BÖHLER Profil GmbH & Co KG ("voestalpine BÖHLER Profil") and the shares of voestalpine BÖHLER Profil VerwaltungsGmbH for approximately 157.0 million Euros in cash, subject to certain customary adjustments (the "Acquisition").”

KADANT INC amended revolving credit of from $400 million to $750 million with Citizens Bank, N.A. maturing September 26, 2030.

“(i) increase the amount of the revolving loan commitments from $400 million to $750 million, (ii) extend the maturity date of the unsecured credit facility to the date that is five years after the effective date of the Eighth Amendment, or September 26, 2030, (iii) remove the credit spread adjustments applicable to SOFR, SONIA and CORRA borrowings”

KADANT INC shareholders approved Ratification of selection of KPMG LLP as independent registered accounting firm for 2024 fiscal year at the 2024-05-15 meeting.

“The stockholders ratified the selection of KPMG LLP as the Company’s independent registered accounting firm for the 2024 fiscal year. The stockholders cast 11,017,598 shares in favor and 105,272 shares against this proposal. In addition, 3,080 shares abstained, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Approval of grant of restricted stock units to non-employee directors under the amended and restated 2006 equity incentive plan at the 2024-05-15 meeting.

“The stockholders approved a grant of such number of restricted stock units determined by dividing $170,000 by the grant date fair value per share of the Company's common stock based on the closing price on the day of grant, which was the date of the 2024 annual meeting, calculated in accordance with Accounting Standards Codification 718, Compensation-Stock Compensation, to the Company's non-employee directors under the Company's amended and restated 2006 equity incentive plan, as amended. The stockholders cast 10,718,075 shares in favor and 32,098 shares against this proposal. In addition, 8,791 shares abstained and 366,986 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Approval of an amendment to the Company's amended and restated 2006 equity incentive plan to extend the plan's term by 10 years at the 2024-05-15 meeting.

“The stockholders approved an amendment to the Company's amended and restated 2006 equity incentive plan, as amended, to extend the plan's term by 10 years from the date of the 2024 annual meeting. The stockholders cast 10,495,891 shares in favor and 256,976 shares against this proposal. In addition, 6,097 shares abstained and 366,986 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Non-binding advisory resolution on the executive compensation of the Company’s named executive officers at the 2024-05-15 meeting.

“The stockholders approved a non-binding advisory resolution on the executive compensation of the Company’s named executive officers. The stockholders cast 10,342,039 shares in favor and 410,410 shares against this proposal. In addition, 6,515 shares abstained and 366,986 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Election of Rebecca Martinez O'Mara to class of directors whose three-year term expires at the 2027 annual meeting at the 2024-05-15 meeting.

“The stockholders cast 9,183,104 shares in favor and 1,573,432 shares against Ms. O'Mara's election. In addition, 2,428 shares abstained and 366,986 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Election of Erin L. Russell to class of directors whose three-year term expires at the 2027 annual meeting at the 2024-05-15 meeting.

“The stockholders elected two nominees, Ms. Erin L. Russell and Ms. Rebecca Martinez O'Mara, to the class of directors whose three-year term expires at the Company's annual meeting of stockholders in 2027. The stockholders cast 8,745,438 shares in favor and 2,011,111 shares against Ms. Russell's election. In addition, 2,415 shares abstained and 366,986 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC reported the first quarter ended March 30, 2024 results: net income $25 million, EPS $2.10.

“Kadant Inc. (the “Company”) announced its financial results for the fiscal quarter ended March 30, 2024.”

KADANT INC reported financial results for the fiscal quarter and year ended December 30, 2023.

“On February 14, 2024, Kadant Inc. (the “Company”) announced its financial results for the fiscal quarter and year ended December 30, 2023.”

KADANT INC entered into Securities Purchase Agreement (the “Acquisition Agreement”) with Key Knife, Inc., Key Knife Canadian Investments Corporation, Key Knife, Inc. Employee Stock Ownership Trust, and Kadant Canada Corp. valued at approximately $156 million in cash (effective 2023-12-22).

“On December 22, 2023, Kadant Inc. (“Kadant” or the “Company”) entered into a Securities Purchase Agreement (the “Acquisition Agreement”) by and among Key Knife, Inc., Key Knife Canadian Investments Corporation, Key Knife, Inc. Employee Stock Ownership Trust, the Company, and Kadant Canada Corp. for the purchase of all the outstanding equity interests of Key Knife, Inc. and Key Knife Canadian Investments Corporation (collectively, “Key Knife”) for approximately $156 million in cash, subject to certain customary adjustments (the “Acquisition”).”

KADANT INC reported the third quarter ended September 30, 2023 results: revenue $244 million, net income $31 million, EPS $2.63. Guidance raised.

“31, 2023 - Kadant Inc. (NYSE: KAI) reported its financial results for the third quarter ended September 30, 2023. Third Quarter Financial Highlights • Revenue increased 9% to $244 million • Operating cash flow increased 89% to $47 million • Free cash flow increased 106% to $38 million • Net income increased 12% to $31 million • GAAP EPS increased 12% to $2.63 •”

KADANT INC reported the third quarter ended September 30, 2023 results: revenue $244 million, net income $31 million, EPS $2.63. Guidance raised.

“31, 2023 - Kadant Inc. (NYSE: KAI) reported its financial results for the third quarter ended September 30, 2023. Third Quarter Financial Highlights • Revenue increased 9% to $244 million • Operating cash flow increased 89% to $47 million • Free cash flow increased 106% to $38 million • Net income increased 12% to $31 million • GAAP EPS increased 12% to $2.63 •”

KADANT INC shareholders approved Ratification of the selection of KPMG LLP as the Company’s independent registered accounting firm for the 2023 fiscal year at the 2023-05-17 meeting.

“The stockholders cast 11,034,029 shares in favor and 30,479 shares against this proposal. In addition, 3,567 shares abstained, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Approval of grant of restricted stock units to non-employee directors under the Company's 2006 amended and restated equity incentive plan at the 2023-05-17 meeting.

“The stockholders cast 10,092,667 shares in favor and 559,579 shares against this proposal. In addition, 5,733 shares abstained and 410,096 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Non-binding advisory vote on the frequency of future advisory votes on executive compensation - every year at the 2023-05-17 meeting.

“The stockholders cast 10,280,602 shares in favor of a vote every year, 2,542 shares in favor of a vote every two years, and 371,201 shares in favor of a vote every three years. In addition, 3,634 shares abstained and 410,096 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Non-binding advisory resolution on the executive compensation of the Company’s named executive officers at the 2023-05-17 meeting.

“The stockholders cast 10,240,779 shares in favor and 411,669 shares against this proposal. In addition, 5,531 shares abstained and 410,096 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC shareholders approved Election of two nominees, Mr. John M. Albertine and Mr. Thomas C. Leonard, to the class of directors whose three-year term expires at the Company's annual meeting of stockholders in 2026 at the 2023-05-17 meeting.

“The stockholders cast 7,983,080 shares in favor and 2,671,993 shares against Mr. Albertine's election. In addition, 2,906 shares abstained and 410,096 broker non-votes were recorded, which had no effect on the outcome of the vote. The stockholders cast 9,621,795 shares in favor and 1,033,444 shares against Mr. Leonard's election. In addition, 2,740 shares abstained and 410,096 broker non-votes were recorded, which had no effect on the outcome of the vote.”

KADANT INC reported first quarter ended April 1, 2023 results: revenue $230 million, net income $28 million, EPS $2.40. Guidance raised.

“Revenue increased 1% to $230 million • Net income decreased 32% to $28 million • GAAP EPS decreased 32% to $2.40”

KADANT INC reported the fiscal year ended December 31, 2022 results: revenue $905 million, net income $121 million, EPS $10.35.

“Fiscal Year Financial Highlights • Revenue increased 15% to $905 million* • Bookings increased 7% to $958 million* • Net income increased 44% to $121 million* • GAAP diluted EPS increased 44% to $10.35* • Adjusted diluted EPS increased 18% to $9.24* • Adjusted EBITDA increased 19% to $189 million* and represented 20.9%* of revenue • Operating cash flow decreased 37% to $103 million • Ending backlog was $345 million”

KADANT INC reported the fourth quarter ended December 31, 2022 results: revenue $232 million, net income $26 million, EPS $2.23.

“Kadant Reports Fourth Quarter and Fiscal Year 2022 Results WESTFORD, Mass., February 15, 2023 - Kadant Inc. (NYSE: KAI) reported its financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter Financial Highlights • Revenue increased 6% to $232 million* • Bookings decreased 7% to $215 million • Net income increased 8% to $26 million • GAAP diluted EPS increased 8% to $2.23 • Adjusted diluted EPS increased 1% to $2.33 • Adjusted EBITDA increased 10% to $50 million* and represented 21.3%* of revenue • Operating cash flow decreased 42% to $35 million”

KADANT INC amended credit facility with Citizens Bank, N.A. (as administrative agent) at secured overnight financing rate plus a 10 basis point credit spread adjustment maturing November 30, 2027.

“Pursuant to the Sixth Amendment, the Existing Credit Agreement was amended to, among other changes, (i) extend the maturity date of the unsecured credit facility to the date that is five years after the effective date of the Sixth Amendment, or November 30, 2027, (ii) replace the LIBOR interest rate provisions with interest rate provisions based on a forward-looking term rate based on the secured overnight financing rate plus a 10 basis point credit spread adjustment, (iii) provide additional flexibility for the Company via increased basket sizes applicable to certain of the negative covenants and an ability to net up to $50 million of unrestricted cash from the consolidated leverage ratio calculation, (iv) increase the uncommitted incremental borrowing facility from $150 million to $200 million and (v) permit the maximum consolidated leverage ratio under the financial condition covenant to be increased from 3.75 to 1.00 to 4.25 to 1.00 for the fiscal quarter during which a material ac”

KADANT INC amended Sixth Amendment to Amended and Restated Credit Agreement with Citizens Bank, N.A. (effective 2022-11-30).

“On November 30, 2022, Kadant Inc. (the “Company”) entered into a Sixth Amendment to Amended and Restated Credit Agreement (the “Sixth Amendment”) with certain of its subsidiaries party thereto, the several banks and other financial institutions party thereto, Citizens Bank, N.A., as administrative agent, and Citizens Bank, N.A., as multicurrency administrative agent.”

KADANT INC reported third quarter ended October 1, 2022 results: revenue $225 million, net income $27 million, EPS $2.35.

“Revenue increased 12% to $225 million. • Bookings decreased 14% to $211 million. • Net income increased 34% to $27 million. • GAAP diluted EPS increased 34% to $2.35.”

Rebecca Martinez O'Mara was appointed as Director at KADANT INC.

“On March 17, 2022, the Board of the Company increased the Board size to seven members and appointed Rebecca Martinez O'Mara as a director of the Company.”

William P. Tully resigned as Director at KADANT INC.

“On March 15, 2022, William P. Tully notified the board of directors (the "Board") of Kadant Inc. (the "Company") that he will resign as a director of the Company, effective January 1, 2023.”

Thomas Andrew Blanchard was appointed as Vice President at KADANT INC.

“Together, Mr. Fredrik Han Westerhout and Mr. Thomas Andrew Blanchard, who will become vice presidents and executive officers of the Company, will each have supervisory responsibility for certain parts of the Company’s flow control and material handling segments, respectively, which Mr. Langevin has responsibility for now.”

Fredrik Han Westerhout was appointed as Vice President at KADANT INC.

“Together, Mr. Fredrik Han Westerhout and Mr. Thomas Andrew Blanchard, who will become vice presidents and executive officers of the Company, will each have supervisory responsibility for certain parts of the Company’s flow control and material handling segments, respectively, which Mr. Langevin has responsibility for now.”

Eric T. Langevin retired as Executive Vice President and Chief Operating Officer at KADANT INC.

“Eric T. Langevin, the Executive Vice President and Chief Operating Officer of Kadant Inc. (the “Company”), will retire from the Company on March 31, 2022.”