Item 5. Market for Registrant’s Common Equity
ITEM 5 – Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
MARKET INFORMATION – Tennant's common stock is traded on the New York Stock Exchange, under the ticker symbol TNC. As of February 13, 2026, there were 236 shareholders of record.
DIVIDEND INFORMATION – Cash dividends on Tennant’s common stock have been paid for 81 consecutive years. Tennant’s annual cash dividend payout increased for the 54 th consecutive year to $1.195 per share in 2025, an increase of $0.06 per share over 2024. Dividends are generally declared each quarter. On February 10, 2026, the Company announced a quarterly cash dividend of $0.31 per share payable March 16, 2026, to shareholders of record on February 27, 2026.
DIVIDEND REINVESTMENT OR DIRECT DEPOSIT OPTIONS – Shareholders have the option of reinvesting quarterly dividends in additional shares of Company stock or having dividends deposited directly to a bank account. The Transfer Agent should be contacted for additional information.
TRANSFER AGENT AND REGISTRAR – Shareholders with a change of address or questions about their account may contact:
Equiniti Trust Company
Shareowner Services
P.O. Box 64874
St. Paul, MN 55164-0854
(800) 468-9716
SHARE REPURCHASES – Share repurchases are made from time to time in the open market or through privately negotiated transactions. During the twelve months ended December 31, 2025, the Company paid $87.7 million to repurchase 1,108,998 shares of its common stock. On February 11, 2025, the Board of Directors authorized the repurchase of 2,000,000 shares of our common stock. Under the share repurchase program, 1,514,063 shares remain authorized.
For the Quarter Ended
December 31, 2025 Total Number of Shares
Purchased (a)
Average Price Paid
Per Share (b)
Total Number of Shares Purchased as Part
of Publicly Announced Plans or
Programs Maximum Number of Shares that May
Yet Be Purchased Under the Plans or
Programs (b)
October 1–31, 2025 133,663 $ 80.97 133,663 1,798,177
November 1–30, 2025 130,580 $ 72.64 129,319 1,668,858
December 1–31, 2025 154,795 $ 75.00 154,795 1,514,063
Total 419,038 $ 76.17 417,777 1,514,063
(a) Includes 1,261 shares delivered or attested to in satisfaction of the exercise price and/or tax withholding obligations by employees who exercised stock options or restricted stock under employee share-based compensation plans.
(b) The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During the twelve months ended December 31, 2025, the Company reflected the applicable excise tax in treasury stock as part of the cost basis of the stock repurchased and recorded a corresponding liability for the excise taxes payable in other current liabilities on the consolidated balance sheets. All dollar amounts presented exclude such excise taxes.
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STOCK PERFORMANCE GRAPH – The following graph compares the cumulative total shareholder return on Tennant’s common stock to two indices: S&P SmallCap 600 and S&P 500 Industrials (Sector). The graph below compares the performance for the last five fiscal years, assuming an investment of $100 on December 31, 2020, including the reinvestment of all dividends.
2020 2021 2022 2023 2024 2025
Tennant Company $ 100 $ 117 $ 90 $ 138 $ 122 $ 112
S&P SmallCap 600 $ 100 $ 127 $ 106 $ 123 $ 134 $ 142
S&P 500 Industrials (Sector) (TR) $ 100 $ 121 $ 114 $ 135 $ 159 $ 190
Source: Zacks Investment Research, Inc.
ITEM 6 – [Reserved]
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