Kennametal Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Kennametal Inc. on June 25, 2026, reporting events occurring on June 30, 2026. The filing primarily addresses executive leadership changes within the human resources function.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to executive compensation packages.
Material Changes
The Board of Directors announced the following personnel changes effective July 21, 2026:
- Appointment: Amanda Cole appointed as Vice President and Chief Human Resources Officer, reporting to CEO Sanjay Chowbey.
- Succession: Ms. Cole succeeds Judith Bacchus, who has served as VP and CHRO since June 2011.
- Retirement: Ms. Bacchus will remain as Vice President and Chief Administrative Officer until her retirement on or about October 1, 2026.
Guidance, Outlook, and Compensation Details
The filing details the compensatory arrangements for the new executive, Amanda Cole, effective upon her start date:
- Base Salary: $375,000 annually.
- Sign-on Bonus: One-time cash bonus of $58,000, subject to repayment if she voluntarily terminates within one year.
- Special Long-Term Incentive: A grant of Restricted Stock Units (RSUs) valued at $300,000 on August 1, 2026. $200,000 cliff vests on the second anniversary; $100,000 cliff vests on the third anniversary.
- Future Annual Incentives: Starting in fiscal year 2027, a target grant value of $375,000 (40% RSUs, 60% Performance Stock Units).
- Annual Bonus: Target of 50% of base salary for fiscal 2027, with a maximum payout of 200%.
- Severance: 12 months of severance if terminated without cause prior to a change in control. In the event of a change in control, payments equal to two times base salary and two times target bonus apply under specific conditions.
Investor Verification Checklist
- Verify the exact start date of Amanda Cole (July 21, 2026) and the transition timeline for Judith Bacchus.
- Review the full text of the Officer's Employment Agreement (referenced as Exhibit 10.60 of the 2018 Form 10-K) for specific definitions of "cause" and "good reason."
- Confirm the vesting conditions and performance metrics for the Performance Stock Units (PSUs) mentioned for fiscal year 2027.
- Monitor the press release (Exhibit 99.1) for any additional strategic context regarding the leadership change.