STOCKHOLDERS’ EQUITY AND EQUITY INSTRUMENTS

9 Months Ended

Jun. 30, 2026

STOCKHOLDERS’ EQUITY AND EQUITY INSTRUMENTS

STOCKHOLDERS' EQUITY AND EQUITY INSTRUMENTS

Equity Compensation Awards

The 2020 Incentive Award Plan (as amended from time to time, the “2020 Plan”) provides for grants of equity awards to executive officers, other employees and directors, including restricted stock units (“RSUs”), performance stock units (“PSUs”), stock options, deferred stock units (“DSUs”) and other equity-based awards.

Stock-based compensation expense recorded in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations was $3.4 million and $2.7 million for the three months ended June 30, 2026 and June 30, 2025, respectively, and $7.9 million and $8.6 million for the nine months ended June 30, 2026 and June 30, 2025, respectively. Stock-based compensation expense recorded in other operating expense (income) in the Condensed Consolidated Statements of Operations due to restructuring was $0.0 million and $(2.1) million for the three months ended June 30, 2026 and June 30, 2025, respectively, and $0.0 million and $(1.3) million for the nine months ended June 30, 2026 and June 30, 2025, respectively. As of June 30, 2026, there was approximately $10.4 million of total estimated unrecognized compensation cost,

assuming attainment of the performance target estimates, related to stock-based compensation arrangements expected to be recognized over a weighted average period of approximately 1.6 years.

Non-Employee Director Compensation. Non-employee directors may elect to receive quarterly fees payable for their service in cash, common stock, or defer all or a portion of such fees into DSUs, and receive annual equity compensation in the form of RSUs or DSUs. During the nine months ended June 30, 2026, common shares of 10,719 were issued from treasury shares for director compensation related to quarterly fees payable and 5,281 DSUs, and granted 33,068 RSUs and 16,982 DSUs for annual director fees. Annual RSUs or DSUs will vest on the earlier of the day immediately preceding the Issuer's next annual meeting (as long as the meeting is held at least 50 weeks from the grant date) and the first anniversary of the grant date. Additionally, as dividends are declared on the Company’s common stock, these deferred stock units are entitled to accrete dividends in the form of additional units based on the stock price on the dividend payment date. Accumulated deferred stock units are distributed in the form of Company common stock at a future specified date or following resignation from the Board of Directors, based upon the director’s annual election.

RSUs. During the nine months ended June 30, 2026, the Company granted 490,913 RSUs which vest after one to three years of service entitling the holders to one share of common stock for each vested RSU. The unvested RSUs do not have voting rights but are entitled to receive non-forfeitable dividends or other distributions that may be declared on the Company’s common stock equal to the per-share dividend declared. The closing stock price on the date of each grant was used to determine the fair value of RSUs.

PSUs. During the nine months ended June 30, 2026, the Company granted 182,071 PSUs based upon certain performance criteria and metrics (“2026 Scorecard PSUs”). The actual number of shares of common stock that may be earned with respect to 2026 Scorecard PSUs is calculated based upon the attainment of certain thresholds for free cash flow and return on capital employed during each year of the three-year performance period and may range from 0% to 200% for each measure. Additionally, a modifier will increase or decrease the payout by 20% based upon relative total shareholder return against the Company’s peer group.

To estimate the fair value of the 2026 Scorecard PSUs on the grant date, the Company used a Monte-Carlo simulation model. This model uses historical stock prices to estimate expected volatility and the Company’s correlation to the peer group. The input for the expected stock price volatility was 48%. In addition, the Company used inputs for the risk-free rate of 3.5%, expected dividend yield of 0%, and the Company’s closing stock price on the grant date to estimate the fair value of the 2026 Scorecard PSUs. The Company will adjust the expense of the 2026 Scorecard PSUs based upon its estimate of the number of shares that will ultimately vest at each interim date during the vesting period.

Options. Substantially all of the stock options granted vest ratably, in tranches, over a four-year service period. Unexercised options expire after seven years. Options do not have dividend or voting rights. Upon vesting, each option can be exercised to purchase one share of the Company’s common stock.

The following table summarizes stock-based compensation activity during the nine months ended June 30, 2026:


	Stock Options			RSUs			PSUs(a)
	Number	Weighted-average exercise price		Number	Weighted-average fair value		Number	Weighted-average fair value
Outstanding at September 30, 2025	107,261	$	63.43	828,922	$	15.34	316,480	$	16.89
Granted	—	—		490,913	18.77		182,071	19.37

Released from restriction(b)	—	—		(335,960)	16.05		—	—
Cancelled/expired	(24,368)	56.27		(23,737)	21.79		—	—
Outstanding at June 30, 2026	82,893	$	65.54	960,138	$	16.70	498,551	$	17.80

(a)Until the performance period is completed, PSUs are included in the table at the target level at their grant date and at that target level represents one share of common stock per PSU.

(b)The Company paid taxes for restricted unit withholdings of approximately $1.9 million during the nine months ended June 30, 2026.

Accumulated Other Comprehensive Loss (“AOCL”)

The following table presents the change in AOCL by component (in millions):


Nine Months Ended June 30, 2026(a)	Gains and (Losses) on Cash Flow Hedges		Defined Benefit Pension		Other Post-Employment Benefits		Foreign Currency		Total
Beginning balance	$	(0.8)	$	(6.3)	$	1.8	$	(102.6)	$	(107.9)
Other comprehensive loss before reclassifications(b)	(1.9)		—		—		(15.4)		(17.3)
Amounts reclassified from AOCL(c)(d)(e)	1.5		0.6		—		13.1		15.2
Net current period other comprehensive income (loss)	(0.4)		0.6		—		(2.3)		(2.1)
Ending balance	$	(1.2)	$	(5.7)	$	1.8	$	(104.9)	$	(110.0)

(a)With the exception of the CTA and cash flow hedges, for which no tax effect is recorded, the changes in the components of AOCL presented in the tables above are reflected net of applicable income taxes.

(b)The Company recorded foreign exchange gain of $1.8 million in the nine months ended June 30, 2026, in AOCL related to intercompany notes which were deemed to be of a long-term investment nature.

(c)Cash flow hedge amounts reclassified from AOCL to expense (income) were included in Product cost in the Condensed Consolidated Statements of Operations.

(d)Defined benefit pension amounts reclassified from AOCL to expense (income) were included in Other expense, net in the Condensed Consolidated Statements of Operations.

(e)Foreign currency amounts reclassified from AOCL to expense (income) were included in Loss on sale of business, net in the Condensed Consolidated Statements of Operations. See Note 3. Dispositions for further information.