Form 4: Lindsay CFO Reports Routine Stock Transactions
Insider Transaction Report
Lindsay Corporation's CFO, Brian L. Ketcham, reported the acquisition of shares from performance unit vesting and subsequent tax-related dispositions.
Summary
- Brian L. Ketcham, Senior Vice President and CFO of Lindsay Corporation (LNN), reported changes in his beneficial ownership of common stock.
- Acquired 768 shares of common stock on November 1, 2025, at a price of $0.00 per share, resulting from the vesting of performance stock units.
- Disposed of 813 shares of common stock on November 1, 2025, at a price of $111.24 per share, to satisfy tax withholding obligations related to the vesting of performance stock units and previously included restricted stock units.
- Following these transactions, Ketcham directly beneficially owns 9,576 shares of common stock, which includes restricted stock units.
- An additional 1,410 shares of common stock are indirectly beneficially owned by his spouse.
- Ketcham holds various stock options with exercise prices ranging from $91.56 to $156.16, with vesting schedules extending to November 1, 2025, and expiration dates up to October 28, 2034.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions related to executive compensation, including stock unit vesting and tax-related share dispositions. These are standard events and do not indicate a significant positive or negative shift in company performance or outlook.
Positives
- Acquisition of 768 shares of common stock through the vesting of performance stock units indicates the achievement of performance targets.
- The vesting of multiple tranches of stock options over several years demonstrates ongoing long-term incentive alignment with shareholder interests.
Negatives
- Disposition of 813 shares of common stock to cover tax withholding obligations reduces the direct beneficial ownership of the CFO.
Future Outlook
NA
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Brian L. Ketcham granted a Power of Attorney to Eric Arneson and Ryan Loneman on October 9, 2017, authorizing them to execute and file Forms 3, 4, and 5 on his behalf. | 2017-10-09 | Streamlines the process for timely SEC filings for insider transactions, ensuring compliance with Section 16(a) of the Securities Exchange Act of 1934. |
Related Party Transactions
- 1,410 shares of common stock are indirectly beneficially owned by Mr. Ketcham's spouse, which were purchased by and are held in her name.
Stakeholder Impact
- Shareholders: Minimal direct impact as these are routine compensation-related transactions. The CFO's continued ownership and option holdings align his interests with shareholders.
Next Steps
- Future vesting of the option with an exercise price of $121.16 will occur in two more equal annual installments after November 1, 2025.
Key Dates
| Date | Description |
|---|---|
| 2017-10-09 | Date Brian L. Ketcham granted Power of Attorney to Eric Arneson and Ryan Loneman. |
| 2018-11-01 | Start of vesting for option with exercise price $91.56. |
| 2019-11-01 | Start of vesting for option with exercise price $91.82. |
| 2020-11-01 | Start of vesting for option with exercise price $94.41. |
| 2021-11-01 | Start of vesting for options with exercise prices $110.42, $91.82, and $91.56. |
| 2022-11-01 | Start of vesting for option with exercise price $145.93. |
| 2023-11-01 | Start of vesting for option with exercise price $156.16. |
| 2024-11-01 | Start of vesting for option with exercise price $120.54. |
| 2025-11-01 | Transaction date for acquisition and disposition of common stock. Also, start of vesting for option with exercise price $121.16. |
| 2025-11-04 | Date the Form 4 was signed and filed. |
| 2027-10-31 | Expiration date for option with exercise price $91.56. |
| 2028-10-22 | Expiration date for option with exercise price $91.82. |
| 2029-10-31 | Expiration date for option with exercise price $94.41. |
| 2030-10-26 | Expiration date for option with exercise price $110.42. |
| 2031-10-25 | Expiration date for option with exercise price $145.93. |
| 2032-10-24 | Expiration date for option with exercise price $156.16. |
| 2033-10-23 | Expiration date for option with exercise price $120.54. |
| 2034-10-28 | Expiration date for option with exercise price $121.16. |
Keywords
Lindsay Corp, LNN, Brian L. Ketcham, CFO, Insider Transaction, Form 4, Stock Vesting, Performance Stock Units, Stock Options, Beneficial Ownership, Tax Withholding
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