Kadant Inc. ($KAI)

Greetings, and welcome to the Kadant Inc. 2026 Annual Meeting of Stockholders. [Operator Instructions] Please note this conference is being recorded. I would now like to turn the conference over to your host, Stacy Krause, Senior Vice President and General Counsel and Secretary. Please go ahead.

Thank you. John Painter, our Chairman of the Board, will start.

Hello. My name is Jon Painter. I'm the Chairman of the Board of Directors. Good afternoon, everyone, and thank you for joining us today. I now call to order the 2026 Annual Meeting of the Stockholders of Kadant Inc. First, I'd like to introduce our directors who are with us today: Jack Albertine, Tom Leonard, Rebecca Martinez O'Mara, Jeff Powell, who is also our President and CEO; and Aaron Russell. Next, I'd like to introduce the other members of our management team who are present or participating in today's call. Mike McKenney, EVP, CFO and Assistant Secretary; Stacy Krause, SVP, General Counsel and Secretary; Deborah Selwood, SVP and Chief Accounting Officer; Dara Mitchell, SVP, Corporate Development; Peter Flynn, SVP, Michael Colwell, SVP, Thomas Blanchard, VP, Tom Martin, VP Tax; Orrin Bean, Treasurer; Jennifer Webb, Assistant General Counsel. Also here with us today is Andrew Jacober, representing KPMG, our independent registered auditing firm and he is available to answer any questions you may have regarding our audited financial statements. Stacy Krause has been appointed an Inspector of Election for the annual meeting and will now report on the meeting procedures, the quorum and present the voting results. Stacy?

Mr. Chairman, a quorum is present for the transaction of business at today's annual meeting. In addition, voting at today's meeting will be by proxy. However, if anyone present holds their shares directly in record name has not voted their shares and would like to do so now, please raise your hand, and we will provide you with a proxy card. Or if you are participating virtually, please take a moment now to cast your vote through the online voting platform by clicking the Vote My Share button. I will now pause for a moment to address any final vote. Seeing no hands and having enabled final online votes to be cast, I now declare that the polls for voting are closed. Three items of business have been presented for the consideration of stockholders at this meeting. Proposal 1, election of directors. The first proposal was the election of 2 directors constituting the entire class directors to be elected for a 3-year term, expiring at the 2029 Annual Meeting of Stockholders. The directors nominated for reelection are: John M. Albertine, Thomas C. Leonard. Mr. Chairman, the tally of the proxy shows that a majority of the votes cast by the shareholders entitled to vote at this meeting were in favor of the election of the nominees and the nominees have been elected. Proposal 2, say on pay. The second proposal was to approve by a nonbinding advisory vote the following resolution, also known as say on pay. Resolve that the compensation paid to our named executive officers as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the compensation discussion and analysis, the compensation tables and any related material disclosed in our proxy statement is hereby approved. Mr. Chairman, the tally of the proxies shows that a majority of the votes cast by the shareholders entitled to vote at this meeting were in favor of the approval of the adoption of this resolution and the proposal is approved. Proposal 3, ratification of the selection of auditors. Our third and final item of business was the ratification of the selection of KPMG LLP as our independent registered accounting firm for the 2026 fiscal year. Mr. Chairman, the tally of the proxies shows that a majority of the votes cast by the shareholders entitled to vote at this meeting were in favor of the ratification of the selection of our auditor and the proposal is approved. Mr. Chairman, this completes my voting report and concludes the business portion of our annual meeting. At this time, I want to pause and address any questions from stockholders.

There are no questions to address at this time. Thank you.

As there is no further business to present at the meeting, the meeting is declared adjourned. Thank you for attending.

This concludes today's conference. You may now disconnect at this time. Thank you for your participation.