The Company calculates earnings per share in accordance with ASC 260, “Earnings per Share.” Basic earnings per share exclude any dilutive effects of options, warrants, and convertible securities. Diluted earnings per share include any dilutive effects of stock options, unvested restricted stock units, unvested performance shares, and unvested restricted stock.

The Company has issued participating securities, including its Series A Cumulative Convertible Participating Preferred Shares, which entitles holders to participate in dividends on an as-converted basis. Accordingly, the Company applies the two-class method, an earnings allocation formula under which net income or loss is allocated to common stockholders and participating securities based on their respective rights to receive dividends, including participation in undistributed earnings.

Dividends on participating preferred shares, including cumulative dividends, are reflected as a reduction to income available to common stockholders in the computation of earnings per share. Diluted earnings per share is computed using the more dilutive of the two-class method or other applicable method and the if-converted method.

Stock options, restricted stock units, and performance shares with respect to 2,592,000 common shares and preferred shares convertible to 21,467,000 of common shares for the fiscal year ended March 31, 2026 were not included in the computation of diluted income per share because they were antidilutive as a result of the Company's net loss. Refer to Notes 3, 9 and 12 for additional information regarding the transactions that resulted in the net loss.

Stock options, restricted stock units, and performance shares with respect to 1,756,000 common shares for the fiscal year ended March 31, 2025 were not included in the computation of diluted income per share because they were antidilutive as a result of the Company's net loss. Refer to Notes 3 and 13 for additional information regarding the transactions that resulted in the net loss.


	Year Ended March 31,
Numerator for basic and diluted earnings per share:	2026		2025		2024


Net income (loss) attributable to the Company	$	(229,535)	$	(5,138)	$	46,625
Net income (loss) attributable to preferred stockholders	(17,050)		—		—
Net income (loss) attributable to common stockholders	$	(212,485)	$	(5,138)	$	46,625

Denominators:
Weighted-average common stock outstanding— denominator for basic EPS	28,714		28,738		28,728

Effect of dilutive employee stock options, RSU's and performance shares	—		—		298

Adjusted weighted-average common stock outstanding and assumed conversions— denominator for diluted EPS	28,714		28,738		29,026

The Company records stock-based compensation in accordance with ASC 718 applying the modified prospective method. This Statement requires all equity-based payments to employees, including grants of employee stock options, to be recognized in the statement of earnings based on the grant date fair value of the award. Under the modified prospective method, the Company is required to record equity-based compensation expense for all awards granted after the date of adoption and for the unvested portion of previously granted awards outstanding as of the date of adoption.

The Company grants share based compensation to eligible participants under the 2016 Long Term Incentive Plan, as Amended and Restated in June 2019 ("2016 LTIP"). The total number of shares of common stock with respect to which awards may be granted under the 2016 LTIP were increased by 2,500,000 as a result of the June 2019 amendment. In July 2024, the 2016 LTIP was amended and restated a second time, which increased the total number of shares of common stock that may be granted under the 2016 LTIP by an additional 2,800,000 shares. Shares not previously authorized for issuance under any of the prior stock plans, and shares not issued or subject to outstanding awards under the prior stock plans are still available for issuance. Details of the shares granted under these plans are discussed below.

Stock-based compensation expense was $9,569,000, $6,256,000, and $12,039,000 for fiscal 2026, 2025, and 2024, respectively. Stock-based compensation expense is included in cost of products sold, selling, general and administrative, and research and development expenses depending on the nature of the service of the employee receiving the award. The Company recognizes expense for all share–based awards over the service period, which is the shorter of the period until the employees’ retirement eligibility dates or the service period for the award, for awards expected to vest. Accordingly, expense is generally reduced for estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised if necessary, in subsequent periods if actual forfeitures differ from those estimates.

The Company recognized compensation expense for stock option awards and unvested restricted share awards that vest based on time or market parameters straight-line over the requisite service period for vesting of the award.

As of March 31, 2026, 920,241 shares remain available for future grants. The 2016 LTIP was designed as an omnibus plan and awards may consist of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, or stock bonuses.

Under the 2016 LTIP, the granting of awards to employees may take the form of options, restricted shares, and performance shares. The Compensation Committee of our Board of Directors determines the number of shares, the term, the frequency and date, the type, the exercise periods, any performance criteria pursuant to which awards may be granted, and the restriction and other terms and conditions of each grant in accordance with terms of the Plan.

In connection with the acquisition of Magnetek, the Company agreed to continue the 2014 Stock Incentive Plan of Magnetek, Inc. (the "Magnetek Stock Plan"). In doing so, the Company has available under the Magnetek Stock Plan 164,461 of the Company's shares which can be granted to certain employees as stock-based compensation.

Options outstanding under the 2016 LTIP generally become exercisable over a 3-year period at a rate of 33% per year commencing one year from the date of grant and have an exercise price of not less than 100% of the fair market value of the common stock on the date of grant.


	Shares	Weighted- average Exercise Price per share		Weighted- average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Outstanding at April 1, 2023	975,171	$	34.54	7.13	$	5,497
Granted	298,674	36.19
Exercised	(62,060)	25.73
Cancelled	(17,945)	37.49
Outstanding at March 31, 2024	1,193,840	$	35.37	6.93	$	12,392
Granted	188,089	45.34
Exercised	(12,648)	29.44
Cancelled	(115,655)	41.26
Outstanding at March 31, 2025	1,253,626	$	36.38	5.99	$	80
Granted	413,549	17.59
Exercised	(1,951)	15.16
Cancelled	(60,273)	29.68
Outstanding at March 31, 2026	1,604,951	31.82		6.12	$	—
Exercisable at March 31, 2026	995,139	$	35.61	4.68	$	—

The Company calculated intrinsic value for those options that had an exercise price lower than the market price of our common shares as of March 31, 2026. The aggregate intrinsic value of outstanding options as of March 31, 2026 is calculated as the difference between the exercise price of the underlying options and the market price of our common shares for the options that were in-the-money at that date. At March 31, 2026 there were no shares in the money. The aggregate intrinsic value of exercisable options as of March 31, 2026 is calculated as the difference between the exercise price of the underlying options and the market price of our common shares for the exercisable options that were in-the-money at that date. There were no exercisable shares in the money at March 31, 2026. The Company's closing stock price was $14.69 as of March 31, 2026. The total intrinsic value of stock options exercised was $5,000, $120,000, and $870,000 during fiscal 2026, 2025, and 2024, respectively.


	Stock Options Outstanding	Weighted-average Exercise Price		Weighted-average Remaining Contractual Life
Range of Exercise Prices

$10.01 to 20.00	449,677	$	17.32	8.09
$20.01 to 30.00	130,581	$	25.11	2.79
$30.01 to $40.00	713,910	$	34.61	5.39
$40.01 to $50.00	175,033	$	45.49	7.68
$50.01 to $60.00	135,750	$	54.26	4.60
	1,604,951	$	31.82	6.12


Range of Exercise Prices	Stock Options Exercisable	Weighted- average Exercise Price per share

$10.01 to 20.00	50,006	$	15.16
$20.01 to 30.00	130,581	25.11
$30.01 to $40.00	616,226	34.36
$40.01 to $50.00	62,741	45.75
$50.01 to $60.00	135,585	54.26
	995,139	$	35.61

The fair value of stock options granted was estimated on the date of grant using a Black-Scholes option pricing model. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of subjective assumptions including the expected stock price volatility. Because the Company’s employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options. The weighted-average grant date fair value of the options was $7.63, $17.13, and $12.97 for options granted during fiscal 2026, 2025, and 2024, respectively. The following table provides the weighted-average assumptions used to value stock options granted during fiscal 2026, 2025, and 2024:


	Year Ended March 31, 2026		Year Ended March 31, 2025		Year Ended March 31, 2024
Assumptions:
Risk-free interest rate	4.03	%	4.76	%	4.28	%
Dividend yield	1.59	%	0.62	%	0.77	%
Volatility factor	0.492		0.342		0.336
Expected life	5.5 years		5.5 years		5.5 years

To determine expected volatility, the Company uses historical volatility based on daily closing prices of its Common Stock over periods that correlate with the expected terms of the options granted. The risk-free rate is based on the United States Treasury yield curve at the time of grant for the appropriate term of the options granted. Expected dividends are based on the Company's history and expectation of dividend payouts. The expected term of stock options is based on vesting schedules, expected exercise patterns and contractual terms.

The Company granted restricted stock units under the 2016 LTIP during fiscal 2026, 2025, and 2024 to employees as well as to the Company’s non-executive directors as part of their annual compensation. For fiscal 2024, 2025, and 2026 restricted stock units for employees vest ratably based on service one-third after each of years one, two, and three.


	Shares	Weighted-average Grant Date Fair Value per share
Unvested at April 1, 2023	247,225	$	37.02
Granted	159,816	37.57
Vested	(145,862)	39.21
Forfeited	(10,267)	41.61
Unvested at March 31, 2024	250,912	$	35.91
Granted	136,870	39.71
Vested	(127,514)	38.60
Forfeited	(12,632)	40.56
Unvested at March 31, 2025	247,636	$	36.38
Granted	479,911	18.05
Vested	(134,639)	30.77
Forfeited	(32,361)	22.88
Unvested at March 31, 2026	560,547	$	22.82

Total unrecognized compensation cost related to unvested restricted stock units as of March 31, 2026 is $6,133,000 and is expected to be recognized over a weighted average period of 1.6 years. The fair value of restricted stock units that vested during the year ended March 31, 2026 and 2025 was $4,143,000 and $4,922,000, respectively.

The Company granted performance shares under the 2016 LTIP during fiscal 2026, 2025, and 2024. Performance based shares are recognized as compensation expense based upon their grant date fair value and to the extent it is probable that the performance conditions will be met. This expense is recognized ratably over the 3-year period that these shares are restricted.

Fiscal 2024 performance shares issued are granted pursuant to a performance condition based upon the Company’s Consolidated Return on Invested Capital ("ROIC") for the twelve months ended March 31, 2026. During fiscal 2026, the Company determined that the performance condition on its fiscal 2024 performance shares would not be met. The Company has adjusted its stock-based compensation expense accordingly in fiscal 2026. Fiscal 2025 and fiscal 2026 performance shares issued are granted pursuant to a performance condition based upon the Company’s revenue and EBITDA margin growth rates in fiscal 2025, 2026, 2027, and 2028. The Company calculated that the fiscal 2025 portion of the fiscal 2025 performance shares were not met and as such the Company has adjusted compensation expense accordingly.


	Shares	Weighted-average Grant Date Fair Value per share
Unvested at April 1, 2023	179,005	$	34.39
Granted	73,453	36.58
Vested	(39,720)	35.95
Forfeited	(33,838)	28.66
Unvested at March 31, 2024	178,900	$	36.13
Granted	123,401	37.44
Vested	(19,960)	53.56
Forfeited	(27,485)	50.02
Unvested at March 31, 2025	254,856	$	33.90
Granted	235,711	17.88
Vested	(40,592)	17.68
Forfeited	(23,533)	33.03
Unvested at March 31, 2026	426,442	$	26.64

During fiscal 2026, 2025, and 2024, a total of 68,424, 28,112, and 28,512 shares of stock, respectively, were granted under the 2016 LTIP to the Company’s non-executive directors as part of their annual compensation. The weighted average fair value grant price of those shares was $14.97, $37.61, and $41.17 for fiscal 2026, 2025, and 2024, respectively. The expense related to the shares was $1,024,000, $1,057,000 and $1,174,000 for fiscal 2026, 2025 and 2024, respectively.

On March 23, 2026, the Company's Board of Directors approved payment of a quarterly dividend of $0.07 per common share, representing an annual dividend rate of $0.28 per share. The dividend was paid on May 11, 2026, to shareholders of record on May 1, 2026 and totaled approximately $2,012,000.

On January 29, 2026, the Company filed a certificate of amendment (the “Preferred Shares Amendment”) to the Company’s Restated Certificate of Incorporation with the New York State Department of State establishing the rights, preferences, privileges, qualifications, restrictions and limitations of the new Preferred Shares, described in Note 3.

On February 3, 2026, the Company completed the sale of 800,000 Series A Cumulative Convertible Participating Preferred Shares, par value $1.00 per share (the “Preferred Shares”), of the Company to CD&R XII Keystone Holdings, L.P. (the “CD&R Investor”) at a purchase price of $1,000 per share for an aggregate purchase price of $800,000,000 (the “Preferred Equity Financing”). Terms of the Preferred Shares include a 7% coupon, payable in cash or payment-in-kind at Columbus McKinnon’s option, and an initial conversion price for conversion of Preferred Shares into the Company's common shares of $37.68, resulting in the CD&R Investor's as-converted ownership of approximately 43% of the Company's outstanding equity following completion of the Kito Crosby Acquisition. The CD&R Investor has agreed to a customary lock-up on its Preferred Shares. The Company has determined the Preferred Shares meet the qualification to be accounted for as an equity instrument. As such, the proceeds from the Preferred Shares have been recorded in equity net of fees incurred to issue the shares.

The Preferred Shares rank senior to the Company's common shares with respect to dividend rights and with respect to rights on liquidation, winding-up and dissolution. Holders of the Preferred Shares are entitled to dividends that are payable quarterly in arrears, accrue and accumulate on a daily basis from the issuance date of such Preferred Shares and are payable at the Company’s option, either (i) in cash or (ii) accumulate with respect to each outstanding Preferred Share for the relevant payment period, at a rate of 7.00% per annum, compounded quarterly, subject to adjustment and as set forth in the Preferred Shares Amendment. At March 31, 2026, a stock dividend in kind was recorded increasing the preferred shares by $8,867,000.

Holders of the Preferred Shares are also entitled to receive certain dividends declared or paid on the Company's common shares on an as-converted basis. No dividends will be payable to holders of the Company's common shares unless the full dividends are paid at the same time to the holders of the Preferred Shares, except for dividends paid in the form of the Company's common shares, convertible securities, or options, and the Company's regular quarterly dividends of up to $0.07 per calendar quarter.

On January 29, 2026, the Company filed a certificate of amendment (the “Authorized Shares and Preemptive Rights Amendment”) to the Company’s Restated Certificate of Incorporation with the New York State Department of State to (i) increase the number of authorized shares of the Company’s capital stock from 51,000,000 shares to 101,000,000 shares and to increase the number of authorized common shares from 50,000,000 common shares to 100,000,000 and (ii) permit the exercise by the CD&R Investor of preemptive rights provided for in the investment agreement entered into connection with the issuance of the Preferred Shares for so long as the CD&R Investor holds Preferred Shares (or common shares issued upon conversion of the Preferred Shares) representing at least 25% of the Preferred Shares initially issued to the CD&R Investor to participate in future equity and equity-linked issuances by the Company to the extent necessary to maintain their pro rata ownership percentage interest in the Company, subject to customary exceptions.

On March 26, 2019, the Board of Directors approved a stock repurchase program authorizing the repurchase of up to $20,000,000 of the Company's common stock. The Company repurchased 31,000 shares of its common stock at an aggregate cost of $1,010,000 in accordance with this plan during the fiscal year ended March 31, 2023. In fiscal 2025, the Company repurchased an additional 293,000 shares of its common stock at an aggregate cost of $9,945,000 in accordance with this plan. The value of the shares purchased are reflected as Treasury stock on the Company's Consolidated Balance Sheets as of March 31, 2026 and 2025.