Form 4: Lindsay Corp CFO Executes Pre-Planned Stock Option Exercise and Share Sale

Sentiment:

Insider Transaction Report 1 July 2025 4:15 PM

Lindsay Corporation's Senior Vice President and CFO, Brian L. Ketcham, exercised stock options and subsequently sold 3,999 shares of common stock on July 1, 2025, as part of a pre-arranged trading plan.

Summary

Brian L. Ketcham, Senior Vice President and CFO of Lindsay Corporation (LNN), executed a stock transaction on July 1, 2025.
Ketcham exercised options to acquire 3,999 shares of common stock at an exercise price of $78.23 per share.
Immediately following the exercise, Ketcham sold all 3,999 shares of common stock at an average price of $149.09 per share, with individual sales ranging from $148.88 to $149.36.
After these transactions, Ketcham directly holds 9,621 shares of common stock, which includes restricted stock units.
An additional 1,410 shares of common stock are indirectly beneficially owned by Ketcham through his spouse.
The 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).

Sentiment

Score: 6

Explanation: The transaction represents a routine exercise of options and sale of shares by an insider, likely for liquidity or diversification purposes, and was conducted under a pre-arranged 10b5-1 plan. While it reduces direct insider ownership, the profitable nature of the exercise and sale is a positive for the individual, and the pre-planned nature mitigates negative sentiment for the company.

Positives

The sale price of $149.09 per share is significantly higher than the exercise price of $78.23, indicating a profitable transaction for the insider.
The transaction was conducted under a Rule 10b5-1 plan, suggesting a pre-planned and orderly disposition of shares, which can reduce concerns about opportunistic insider trading.

Negatives

The direct beneficial ownership of common stock by the CFO decreased from 13,620 shares to 9,621 shares following the sale.

Future Outlook

Management Comments

The shares were sold in multiple transactions at prices ranging from $148.88 to $149.36, inclusive.
Upon request, the reporting person undertakes to provide to the staff of the Securities and Exchange Commission, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Industry Context

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 to execute Forms 3, 4, and 5 on his behalf for Section 16(a) compliance.	10/09/2017	Streamlines the process for insider trading compliance filings for the reporting person.

Related Party Transactions

1,410 shares of common stock are indirectly beneficially owned by Brian L. Ketcham through his spouse, as disclosed in the filing.

Stakeholder Impact

Shareholders: A minor reduction in direct insider ownership, but the transaction is routine and pre-planned, minimizing negative implications.
Employees: No direct impact indicated.
Customers: No direct impact indicated.
Suppliers: No direct impact indicated.
Creditors: No direct impact indicated.

Key Dates

Date	Description
10/09/2017	Date Power of Attorney was executed by Brian L. Ketcham, appointing Eric Arneson and Ryan Loneman as attorneys-in-fact for SEC filings.
11/01/2017	Start date for the four equal annual installments of vesting for the option exercised on 07/01/2025.
11/01/2018	Start date for the four equal annual installments of vesting for an option with an exercise price of $91.56, expiring 10/31/2027.
11/01/2019	Start date for the three equal annual installments of vesting for an option with an exercise price of $91.82, expiring 10/22/2028.
11/01/2020	Start date for the three equal annual installments of vesting for an option with an exercise price of $94.41, expiring 10/31/2029.
11/01/2021	Start date for the three equal annual installments of vesting for an option with an exercise price of $110.42, expiring 10/26/2030.
11/01/2022	Start date for the three equal annual installments of vesting for an option with an exercise price of $145.93, expiring 10/25/2031.
11/01/2023	Start date for the three equal annual installments of vesting for an option with an exercise price of $156.16, expiring 10/24/2032.
11/01/2024	Start date for the three equal annual installments of vesting for an option with an exercise price of $120.54, expiring 10/23/2033.
07/01/2025	Date of stock option exercise and subsequent sale of common stock by Brian L. Ketcham.
11/01/2025	Start date for the three equal annual installments of vesting for an option with an exercise price of $121.16, expiring 10/28/2034.
10/21/2026	Expiration date for the option exercised on 07/01/2025.
10/31/2027	Expiration date for an option with an exercise price of $91.56.
10/22/2028	Expiration date for an option with an exercise price of $91.82.
10/31/2029	Expiration date for an option with an exercise price of $94.41.
10/26/2030	Expiration date for an option with an exercise price of $110.42.
10/25/2031	Expiration date for an option with an exercise price of $145.93.
10/24/2032	Expiration date for an option with an exercise price of $156.16.
10/23/2033	Expiration date for an option with an exercise price of $120.54.
10/28/2034	Expiration date for an option with an exercise price of $121.16.

Keywords

Lindsay Corporation, LNN, SEC Form 4, Insider Trading, Stock Options, Share Sale, Executive Compensation, Brian L. Ketcham, CFO, Rule 10b5-1

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