UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549





FORM 11-K





(Mark one)


☒ ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


For the fiscal year ended December 31, 2021





☐ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


For the transition period from  to





Commission file number 0-07977








A. Full title of the plan and the address of the plan, if different from that of the issuer named below:





NORDSON EMPLOYEES’ SAVINGS TRUST PLAN





B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:





Nordson Corporation, 28601 Clemens Road, Westlake, Ohio 44145










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NORDSON  EMPLOYEES'  SAVINGS  TRUST  PLAN








FINANCIAL STATEMENTS


WITH


REPORT OF INDEPENDENT REGISTERED


PUBLIC ACCOUNTING FIRM





December 31, 2021  and 2020
















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INDEX


PageReport of Independent Registered Public Accounting Firm1Financial Statements:Statement of Net Assets Available for Benefits2Statement of Changes in Net Assets Available for Benefits3Notes to Financial Statements4Supplemental Schedules:Schedule of Assets Held for Investment Purposes at End of Year12Schedule of Delinquent Contributions13













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Table of Contents


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM





To the Plan Administrator, Retirement Committee, and Plan Participants


Nordson Employees’ Savings Trust Plan


Westlake, Ohio





Opinion on the Financial Statements


We have audited the accompanying Statement of Net Assets Available for Benefits of the Nordson Employees’ Savings Trust Plan (“Plan”) as of December 31, 2021 and 2020, and the related Statement of Changes in Net Assets Available for Benefits for the years then ended, and the related notes and supplemental schedules (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2021 and 2020, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.


Basis for Opinion


These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.


We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.


Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.


Supplemental Information


The supplemental information in the Schedule of Assets Held for Investment Purposes at End of Year as of December 31, 2021 and Schedule of Delinquent Contributions for the years ended December 31, 2020 and 2019 have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedules, we evaluated whether the supplemental information, including its form and content, is presented in conformity with Department of Labor’s (DOL) Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedules is fairly stated, in all material respects, in relation to the financial statements as a whole.





/s/ Meaden & Moore, Ltd.


We have served as the Plan's auditor since 2006





Cleveland, Ohio


June 24, 2022


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Table of Contents


STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS


Nordson Employees' Savings Trust Plan





December 3120212020ASSETSInvestments, at fair value:$834,923,385$766,047,370Receivables:Employee contributions52,229—Employer contributions621,671234,419Notes receivable from participants7,886,2948,739,741Dividends357,588181,256Total Receivables8,917,7829,155,416TOTAL ASSETS843,841,167775,202,786LIABILITIES——NET ASSETS AVAILABLE FOR BENEFITS$843,841,167$775,202,786See accompanying notes.


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STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS


Nordson Employees' Savings Trust Plan





Year Ended December 3120212020Additions to Net Assets Attributed to:Contributions:Employer$8,168,643$8,227,725Employee24,972,56725,207,720Rollover16,046,5453,188,893Total Contributions49,187,75536,624,338Interest income - notes receivable from participants407,510470,026Investment Income:Interest and dividend income23,000,8698,330,444Net unrealized/realized appreciation100,518,95187,388,557Net Investment Income123,519,82095,719,001Deductions from Net Assets Attributed to:Benefits paid to participants91,763,42759,041,154Expenses314,072218,459Total Deductions92,077,49959,259,613Net Increase Before Transfers81,037,58673,553,752Transfer (to) from Another Plan:Fluortek, Inc. 401(k) Savings Plan2,224,136—Nordson Corporation Non-Union Employees Stock Ownership Plan—69,503,253Nordson Hourly-Related Employees’ Savings Trust Plan—17,509Vention Medical Holdings, Inc. 401(k) Profit Sharing Retirement Plan—18,156Xaloy 401(k) Plan(14,623,341)—Total Transfers(12,399,205)69,538,918Net Increase68,638,381143,092,670Net Assets Available for Benefits:Beginning of the Year775,202,786632,110,116End of the Year$843,841,167$775,202,786See accompanying notes.


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 NOTES TO FINANCIAL STATEMENTS







1    Description of Plan


The following  description  of the  Nordson  Employees'  Savings  Trust  Plan  ("Plan")  provides  only  general  information.  Participants  should refer to  the  Plan  document  for a  complete  description  of  the  Plan's  provisions.


General:


The Plan, which began March 16, 1962, is a defined contribution plan covering certain salaried, full-time and part-  time, domestic employees of Nordson Corporation ("Company"). It is subject to the provisions of the Employee  Retirement  Income Security  Act  of  1974  ("ERISA").


The Plan was restated effective January 1, 2016 to incorporate all prior amendments and to state the terms of the  related trust in  a separate  agreement.


The Plan was amended December 1, 2017 to add Roth contributions and Roth Conversion contributions.  Effective  January 1, 2018, the Plan was amended to add a direct asset contribution process.  Effective April 1, 2018, the Plan  was  amended to  modify  the process  for handling  claims  and  appeals.  In 2021, the Plan  was  amended to  comply with the requirements of the Bipartisan Budget Act of 2018 and final Treasury Regulations regarding hardship withdrawals, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 and the Coronavirus  Aid,  Relief  and  Economic  Security  (CARES)  Act.


Effective January 1, 2018, eligible employees of Plas-Pak Industries, Inc. became participants in the Plan and on June  1,  2018, the  assets  of  Plas-Pak  Industries,  Inc. 401(k) Profit  Sharing  Plan  were  merged into the  Plan.


Effective  January  1,  2019,  employees  of  Nordson  MEDICAL  (NH),  Inc.,  Nordson  MEDICAL  Design  and  Development, Inc. and  Sonoscan, Inc.  became  participants  in  the  Plan.


On  April  1,  2019,  the  assets  of  Vention  Medical  Holdings,  Inc.  401(k)  Profit  Sharing  Retirement  Plan  were  merged  into the Plan.


On  June  3,  2019,  the  assets  of  Sonoscan,  Inc.  Incentive  Savings  and  Profit  Sharing  Plan  were  merged  into  the Plan .


Effective December 21, 2020, the assets of the Nordson Corporation Non-Union Employees Stock Ownership Plan were merged into the Plan.


Effective January 1, 2021, eligible employees of Fluortek, Inc. became participants in the Plan and on July  1,  2021, the  assets  of  Fluortek,  Inc. 401(k) Savings  Plan  were  merged into the  Plan.


Effective February 1, 2021, the Company finalized the sale of its screws and barrels product line.  Participant balances were transferred out of the Plan to the Xaloy 401(k) Plan in 2021.


Eligibility:


All salaried  and  non-union  hourly  domestic  employees  of  the  Company  are  eligible  to  become  active  participants  in  the  Plan  beginning  with  the  first  payroll  period  after completion  of  one  hour  of  service.


Contributions:


Participants may elect between 1% and 30% of their compensation to be contributed to the Plan by the Company. Participant contributions can be designated as a Roth contribution, a pre-tax contribution or a combination of the two types of participant contributions. Certain higher-paid participants may be limited to a lesser percentage. Effective January 1, 2019, unless otherwise elected, new employees will be auto-enrolled into the Plan after 30 days of employment with pre-tax contributions in an amount equal to a percentage determined by the Nordson Retirement Committee, currently 6% of their compensation.


Effective January 1, 2019, participant pre-tax contributions will automatically increase by 1% each year until a contribution rate equal to a percentage determined by the Nordson Retirement Committee is reached, currently 10%.


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1    Description of Plan, Continued


Contributions, Continued:


The automatic enrollment provision does not apply to Roth 401(k) contributions. Participants can opt out of the automatic increase program.


Post-tax Employee Contribution - Participants may elect between 1% and 5% of their compensation to be contributed to the Plan by the Company. Certain higher-paid participants may be limited to a lesser percentage.


Total pre-tax, Roth and post-tax employee contributions may not exceed 30%.


Employer Contributions - The Company makes contributions equal to 50% of each participant’s contributions, which are attributable to the first 6% of compensation, subject to Plan restrictions. Effective July 1, 2021, the Company will also make an additional 3% nonelective employer contribution on an annual basis for employees hired or rehired on or after July 1, 2021 and actively employed through December 31 of each year.


The Company may also make additional discretionary contributions, if authorized by its Board of Directors; however, no such discretionary contributions were made for the years presented.


Rollover contributions from other plans are also accepted, provided certain specified conditions are met.


Contributions are subject to limitations on annual additions and other limitations imposed by the Internal Revenue Code, as defined in the Plan agreement.


Participants’ Accounts:


A separate  account  in  each  fund  is  maintained  for  each  participant.  The  account  balances  for  participants  are  adjusted  periodically  as  follows:


a) As of the date with respect to which the contribution was earned.


b) Daily for a pro rata share of each respective fund’s net investment income, determined by the percentage increase or decrease in the value of the fund.


c) Effective January 1, 2021, annually for a pro rata share of forfeitures attributable to matching employer contributions, determined by the ratio that each active participant’s separate account balance on the allocation date bears to the aggregate separate account balances for all active participants on the allocation date.  Prior to January 1, 2021, annually for a pro rata share of forfeitures, determined by the ratio that each active participant’s deferral or contribution percentage in effect on the last day of the Plan year (not to exceed 6%) bears to the sum of the deferral or contribution percentages for all active participants.


Vesting:


Participants are  fully  vested  in  all  employee  contributions  and  rollover  contributions  and  the  related  gains  and  losses.  Participants  vest  in  employer  contributions  (adjusted  for  gains  and  losses)  33  1/3%  for  each  year  of  service.


Forfeitures:


Forfeitures due to termination from the Plan before a participant is 100% vested shall be allocated to remaining  participants.  Forfeitures  are  available  for  allocation  after  the  earlier  of  a  five-year  period  commencing  from  the  date  on  which the participant's employment was terminated or upon the participant requesting a distribution. Forfeitures  available to be allocated are fully allocated to the remaining participants. Forfeitures allocated were $167,357 (2021) and $204,795 (2020). Forfeitures available to be allocated were $362,528 (2021) and $167,327 (2020).


Notes Receivable from Participants:


Notes receivable are permitted under certain circumstances and are subject to limitations. Participants may borrow  from their fund accounts up to a maximum amount equal to the lesser of $50,000 or 50% of their vested account  balance. Notes  receivable  are repaid over  a  period  not  to  exceed five years.





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 NOTES TO FINANCIAL STATEMENTS


1    Description of Plan, Continued


Notes Receivable from Participants, Continued:


Effective  March 27, 2020,  in  response  to  the  Coronavirus  Aid,  Relief  and  Economic  Security  (CARES)  Act,  participants  defined  by  the  CARES  Act  as  affected  by  COVID-19  may borrow from their fund  accounts up to a maximum amount equal to the lesser of $100,000 or 100% of their vested account balance through  September  22, 2020 and  delay loan repayments for  up  to  one  year  (interest will continue  to  accrue)  for  loan  repayments  due after March  27,  2020  and before December  31, 2020.


The  notes  receivable  are  secured  by  the  balance  in  the  participant's  account  and  bear  interest  at  rates  established by  the  Company. Principal  and interest are  paid ratably  through  payroll  deductions.


Payment of Benefits:


Upon retirement after age 55 or death or disability, if earlier, the balance in the separate account is paid to the  participant or beneficiaries either in a lump sum or installments. A participant who has attained age 59 1/2 can  also elect to withdraw amounts from their separate account. Until distribution, each account shall participate in the  allocation  of  earnings  and appreciation  or  depreciation  of  assets.


If the employment of a participant is terminated for any cause other than death or total disability prior to the  attainment of the age of 55 years, any distribution will be based on the number of years the participant participated in  the Plan. The portion of the account to be distributed will be equal to all the employee's contributions and related  earnings, plus 33 1/3% of the remainder of the balance (the employer's matching contribution, forfeitures and related  earnings) in  the  separate  account  for each  full  year of  participation  in  the  Plan  up to 100%.


Effective  January  1,  2020,  in  response  to  the  Coronavirus  Aid,  Relief  and  Economic  Security  (CARES)  Act,  participants  defined  by  the  CARES  Act  as  affected  by  COVID-19  can  make  a  coronavirus-related  distribution  of  up  to $100,000 through December 31, 2020.


Benefit  payments  to  participants  are  recorded  upon  distribution.


Investment Options:


Prior to January 1, 2020, each participant could direct all contributions and, when the participant is fully vested or attains age 55, all matching employer contributions, be invested jointly in 1% increments in any of the investment funds offered by the Plan. For participants not fully vested and less than 55 years old, all Company matching contributions are deposited in the Nordson Match Stock Fund. A participant who has completed at least three years of service may elect to have their separate account, which is attributable to employer matching contributions and invested in the Nordson Match Stock Fund, transferred to any other investment option.


Effective  January  1,  2020, C ompany  match  contributions  made  on  behalf  of  participants  are no longer automatically invested in the Nordson Stock Fund. The employer match is invested according to the participant's  investment elections or into the Plan's default fund if no investment elections exist.  Additionally, the restriction  requiring participants to complete at least three years of service (100% vested) before being eligible to diversify their  investments  in  the Nordson  Stock  Fund  has  been  removed  from  the  Plan.


Effective  April  1,  2021,  future  investment  contributions  and  investment  transfers  into  Nordson  Stock  are  capped  at  50%  of  the  total investments  in  the  participant's  account.


























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 NOTES TO FINANCIAL STATEMENTS


2    Summary of Significant Accounting Policies


Basis of Accounting:


The Plan’s transactions are reported on the accrual basis of accounting.


Investment Valuation:


Investments are reported at fair value.  Investments in equity and debt securities traded on a national exchange and  mutual funds are valued at the market price on the last business day of the Plan year. Securities traded in the over-the-  counter market are valued at the mean between the last reported bid and ask prices. Deposits under group annuity  contracts are valued at the fair value, as reported by the insurance companies. Guaranteed investment contracts are  valued at contract value which represents contributions and reinvested income, less any withdrawals plus accrued  interest.  Contract  value approximates  fair  value.


Purchases  and  sales  of  securities  are  recorded  on  a  trade-date  basis.  Interest  income  is  recorded  on  the  accrual  basis.  Dividends  are recorded  on  the  ex-dividend  date.


Interest is calculated and paid using money market interest rates on late transfers of money between the various funds.  This  is  done to record the proper investment  earnings  within  each fund.


Notes Receivable from Participants:


Notes receivable from participants are valued at unpaid principal balance plus any accrued, but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. No allowance for credit losses has been recorded as of December 31, 2021 or 2020. Delinquent participant loans are deemed distributions based on the terms of the Plan document.


Use of Estimates:


The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.


Plan Termination:


Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its  contributions at any time  and  to  terminate  the  Plan subject to  the  provisions of ERISA.  In the  event of Plan  termination, participants  will become  100%  vested  in  their  accounts.


Risks and Uncertainties:


The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term, and that such changes could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits.




3    Tax Status


On December 29, 2016, the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code. The Plan Administrator and the Plan’s tax counsel believe that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, the Plan’s Administrator and tax counsel believe that the Plan was qualified and the related trust was tax-exempt as of the financial statement date.


Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken uncertain tax positions that more-likely-than-not would not be sustained upon examination by applicable taxing authorities. The Plan Administrator


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 NOTES TO FINANCIAL STATEMENTS


3    Tax Status, Continued


has analyzed tax positions taken by the Plan and has concluded that, as of December 31, 2021, there are no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions. However, currently no audits for any tax periods are in progress.




4    Fair Value Measurements


Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be reported at fair value, the Plan considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of nonperformance.


The guidance also establishes a fair value hierarchy that requires the Plan to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are described as follows:


• Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.


• Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.


If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.


• Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.


The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs.


The following is a description of the valuation methodologies used to measure fair value of assets held in the Plan. There have been no changes in the methodologies used at December 31, 2021 or 2020.


Mutual Funds : The mutual funds are public investment vehicles valued using the net asset value (“NAV”) provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund. The NAV is a quoted price in an active market, thus the mutual funds are classified within Level 1 of the hierarchy.


Money Market Funds : The money market funds are public investment vehicles that are valued with a NAV of $1. This NAV is a quoted price in an active market, thus these investments are classified within Level 1 of the hierarchy.


Common/Collective Funds : Common/collective funds are public investment vehicles valued using the NAV provided by the administrator of the fund. The NAV is based on the value of the assets owned by the funds, less liabilities. Participant transactions (purchases and sales) may occur daily. Were the Plan to initiate a full redemption of the common/collective funds, the investment advisor reserves the right to temporarily delay withdrawal from the funds in order to ensure that securities liquidations will be carried out in an orderly business manner. These investments are not quoted on an active market.


Nordson Corporation Common Stock : The stock is valued at the closing price reported on the NASDAQ stock exchange and is classified within Level 1 of the hierarchy.








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 NOTES TO FINANCIAL STATEMENTS


4    Fair Value Measurements, Continued


Investment Contract : This is an investment in a group annuity contract with Mass Mutual, which guarantees a fixed interest rate each year. The asset is valued at the fair value, as reported by Mass Mutual.  This contract does not hold any specific assets. This investment is classified within Level 3 of the hierarchy.


Annuity : This annuity is invested with National Western Life. The asset is valued at contract value, as reported by  National Western Life. This  investment  is  classified  within  Level  3  of  the  hierarchy.


Investments measured at fair value on a recurring basis consisted of the following types of instruments as of December 31, 2021:


Fair Value Measurements Using Input Type:Level 1Level 2Level 3TotalMoney Market Funds$23,638,380$—$—$23,638,380Mutual Funds232,054,868——232,054,868Investment Contract——59,356,02259,356,022Annuity——73,20873,208Nordson Corporation Common Stock178,983,582——178,983,582Total Investments in the Fair Value Hierarchy$434,676,830$—$59,429,230494,106,060Investments measured at Net Asset Value:Common/Collective Funds340,817,325Total Investments at Fair Value$834,923,385


Investments measured at fair value on a recurring basis consisted of the following types of instruments as of December 31, 2020:


Fair Value Measurements Using Input Type:Level 1Level 2Level 3TotalMoney Market Funds$25,876,809$—$—$25,876,809Mutual Funds218,220,606——218,220,606Investment Contract——57,627,58857,627,588Annuity——70,39370,393Nordson Corporation Common Stock161,453,679——161,453,679Total Investments in the Fair Value Hierarchy$405,551,094$—$57,697,981463,249,075Investments measured at Net Asset Value:Common/Collective Funds302,798,295Total Investments at Fair Value$766,047,370


The table below sets forth the changes in fair value of the Plan’s Level 3 assets for the year ended December 31, 2021:


Investment ContractAnnuityTotalBalance - Beginning of the Year$57,627,588$70,393$57,697,981Investment income1,728,4342,8151,731,249Balance - End of the Year$59,356,022$73,208$59,429,230




















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 NOTES TO FINANCIAL STATEMENTS


4    Fair Value Measurements, Continued





The table below sets forth the changes in fair value of the Plan’s Level 3 assets for the year ended December 31, 2020:


Investment ContractAnnuityTotalBalance - Beginning of the Year$55,948,347$67,685$56,016,032Investment income1,679,2412,7081,681,949Balance - End of the Year$57,627,588$70,393$57,697,981


The following table represents the Plan’s Level 3 financial instruments, the valuation techniques used to measure the fair value of those financial instruments, and the significant unobservable inputs and the ranges of value for those inputs as of December 31, 2021 and December 31, 2020:


InstrumentFair ValuePrincipal Valuation TechniqueUnobservable InputsRange of Significant Input ValuesWeighted AverageInvestment$59,356,022AmountsGuaranteed3.0%N/Acontract(2021);invested, lessinterest ratesfor 2021$57,627,588withdrawals,and 2020(2020)plus interest atguaranteed rateAnnuity$73,208AmountsGuaranteedTwo tiers, oneN/A(2021);invested, lessinterest ratesat 4.0% and$70,393withdrawals,one at 6.0%(2020)plus interest at(2021 & 2020)guaranteed rate







5    Non-Participant-Directed Investments


Effective January 1, 2020, Company match contributions made on behalf of participants are no longer automatically invested in the Nordson Stock Fund. The employer match is invested according to the participant's investment elections or into the Plan's default fund if no investment elections exist.







6    Party-in-Interest Transactions


Certain legal, accounting and administrative expenses are paid by the Company. The Plan also invests in the common stock of the Company. John Hancock Retirement Plan Services (“John Hancock”) provides certain administrative services to the Plan pursuant to a service agreement between the Company and John Hancock.


Effective January 1, 2019, plan expenses will be charged directly to participants. Every participant will be charged $18.75 quarterly ($75 annually) no matter which investment options are chosen by the participant. On a quarterly basis, participants will receive an administrative credit to the investment fund that generated the credit. The credits will vary by participant based upon the investments in the participant’s account. John Hancock also receives revenue from certain mutual fund companies or other investment providers pursuant to service agreements that John Hancock maintains in connection with services provided to the Plan. The revenue generated will be used for the payment of ERISA-qualified Plan administrative expenses, as determined by the Plan Administrator. To the extent the revenue received into the Plan exceeds the Plan’s administrative expense, the excess will be allocated on an annual basis to participants with account balances as of March 31 of the following year.


The Plan also has arrangements with various service providers, and these arrangements qualify as party-in-interest transactions.





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7    Diversification


Effective December 21, 2020, the assets of the Nordson Corporation Non-Union Employees Stock Ownership Plan (NUESOP) were merged into the Plan.  The assets of the NUESOP became a fund within the Plan.  Participants can diversify the assets within the NUESOP fund into any other funds within the Plan at any time.


Prior to the merger, an employee who has participated under the Nordson Corporation Non-Union Employees Stock Ownership Plan for  10 or more years and has attained age 55 may elect, within the 90-day election period following the close of each  Plan year during the qualified period, to transfer up to 25% of the aggregate balance of their separate account from the  Nordson Corporation Non-Union Employees Stock Ownership Plan to the Nordson Employees' Savings Trust Plan.  For the last Plan year in the qualified period, the participant may elect to transfer up to 50% of the aggregate balance of their  separate account. The qualified period is the six Plan-year period beginning with the Plan year following the Plan year  in  which  the  participant  attains  age  55 or completes  10 years  as  a  participant,  whichever is  later.




8    Prohibited Transactions


During the Plan year ended December 31, employee withholdings in the amounts of $13,624 (2020) and $1,669 (2019) were not remitted by  the  Company  to  the  Plan  within  the  required  timeframe,  as  defined  by  ERISA.  These  transactions  constitute  prohibited  transactions.  The  Company  has  remitted  the  contributions  to  the  Plan  and  followed  the  appropriate  correction  guidelines.




9    Subsequent Events


Management evaluates events occurring through the date the financial statements are available to be issued in  determining  the  accounting  for  and  disclosure  of  transactions  and  events  that  affect  the  financial  statements.


Effective March 1, 2022, the Company will make an additional 3% nonelective employer contribution on an annual basis for employees who opted out of the Nordson Salaried Employees Pension Plan and are actively employed through December 31 of each year.


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SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AT END OF YEAR


Form 5500, Schedule H, Part IV, Line 4i


Nordson Employees’ Savings Trust Plan


EIN 34-0590250


Plan Number 002


December 31, 2021


(a)(b) Identity of Issuer, Borrower, Lessor or Similar Party(c) Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value(e) Current ValueAllspring Government Money Fund (Class A)3,649,004Shares, Money Market Fund$3,649,004Allspring Government Money Market Fund (Class Inst)19,989,376Shares, Money Market Fund19,989,376KeyBank NA Managed Guaranteed Investment Contract Fund200,645Shares, Guaranteed Investment Contract5,781,231Loomis Sayles Core Plus Bond Fund (Class Y)2,518,570Shares, Mutual Fund34,151,815MainStay Winslow Large Cap Growth (Class I)6,858,806Shares, Mutual Fund92,113,766Mass Mutual3.00%Group Annuity Contract #3023740159,356,022MFS Institutional International Equity Fund370,579Shares, Mutual Fund12,395,874MFS International New Discovery Fund (Class R4)603,846Shares, Mutual Fund22,070,588National Western Annuities73,208Shares, Group Annuity Contract73,208*Nordson Corporation Common Stock701,154Shares, Common Stock178,983,582Northern Trust Collective Aggregate Bond Index Fund Non-Lending (Tier II)30,058Shares, Collective Fund4,571,872Northern Trust Collective All Country World Index (ACWI) ex-US Fund Non-Lending (Tier II)10,312Shares, Collective Fund2,100,040Northern Trust Collective Extended Equity Market Index Fund Non-Lending (Tier II)78,231Shares, Collective Fund30,820,610Northern Trust S&P 500 Index Fund Non-Lending171,957Shares, Collective Fund96,685,983State Street Target Retirement Income Non-Lending Series Fund (Class M)384,960Shares, Collective Fund5,792,876State Street Target Retirement 2020 Non-Lending Series Fund (Class M)924,934Shares, Collective Fund15,549,063State Street Target Retirement 2025 Non-Lending Series Fund (Class M)1,517,112Shares, Collective Fund27,998,294State Street Target Retirement 2030 Non-Lending Series Fund (Class M)1,566,059Shares, Collective Fund30,373,721State Street Target Retirement 2035 Non-Lending Series Fund (Class M)902,504Shares, Collective Fund18,036,534State Street Target Retirement 2040 Non-Lending Series Fund (Class M)857,665Shares, Collective Fund17,548,687State Street Target Retirement 2045 Non-Lending Series Fund (Class M)610,402Shares, Collective Fund12,770,225State Street Target Retirement 2050 Non-Lending Series Fund (Class M)532,726Shares, Collective Fund11,228,792State Street Target Retirement 2055 Non-Lending Series Fund (Class M)720,114Shares, Collective Fund15,184,329State Street Target Retirement 2060 Non-Lending Series Fund (Class M)145,675Shares, Collective Fund2,884,502State Street Target Retirement 2065 Non-Lending Series Fund (Class M)15,825Shares, Collective Fund217,477T. Rowe Price Institutional Large Cap Value Fund696,780Shares, Mutual Fund19,349,581Vanguard Balanced Index Fund (Admiral)1,060,246Shares, Mutual Fund51,973,244Wellington SMID Cap Research Equity Portfolio (Series 1)1,769,861Shares, Collective Fund43,273,089834,923,385*Participant loansParticipant loans (interest ranging from 3.25% to 8.25%)7,886,294$842,809,679


*    Party-in-interest to the Plan.





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SCHEDULE OF DELINQUENT CONTRIBUTIONS


Form 5500, Schedule H, Line 4a


Nordson Employees’ Savings Trust Plan


EIN 34-0590250


Plan Number 002





December 31, 2020


Participant Contributions Transferred Late to PlanTotal that Constitute Nonexempt Prohibited TransactionsClick Here if Late Participant Loan Repayments are IncludedContributions Not CorrectedContributions Corrected Outside VFCPContributions Pending Correction in VFCPTotal Fully Corrected Under VFCP and PTE 2002-51$13,624$13,624


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Table of Contents


SCHEDULE OF DELINQUENT CONTRIBUTIONS


Form 5500, Schedule H, Line 4a


Nordson Employees’ Savings Trust Plan


EIN 34-0590250


Plan Number 002





December 31, 2019


Participant Contributions Transferred Late to PlanTotal that Constitute Nonexempt Prohibited TransactionsClick Here if Late Participant Loan Repayments are Included  XContributions Not CorrectedContributions Corrected Outside VFCPContributions Pending Correction in VFCPTotal Fully Corrected Under VFCP and PTE 2002-51$1,669$1,669


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Exhibits





The following exhibit is filed herewith:


Exhibit No.


23-a Consent of Independent Registered Public Accounting Firm








SIGNATURE





Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.








NORDSON EMPLOYEES’ SAVINGS TRUST PLANDate:June 24, 2022By/s/ Joseph P. KelleyJoseph P. KelleyExecutive Vice President, Chief Financial OfficerNordson Corporation





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