X0201 4 2003-12-11 0 0000886346 KADANT INC KAI 0001251663 MCKENNEY MICHAEL J ONE ACTON PLACE SUITE 202 ACTON MA 01720 0 1 0 0 VICE PRESIDENT Common Stock 2003-12-11 4 M 0 4000 13.05 A 4043 D Common Stock 2003-12-11 4 S 0 4000 18.5514 D 43 D Employee Stock Option (Right To Buy) 13.05 2003-12-11 4 M 0 4000 0 D 2001-12-10 2008-12-10 Common Stock 4000 22667 D THE TRANSACTIONS REPORTED ON THIS FORM 4 WERE EXECUTED PURSUANT TO A RULE 10b5-1 TRADING ARRANGEMENT DATED AUGUST 28, 2003. by Sandra L. Lambert for Michael J. McKenney 2003-12-12