Company: KEQU
Filing Date: 2025-03-14
Form Type: 10-Q
Source: 0000055529-25-000013
Chunk: 59

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-03-14
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 was 33,809 shares.On March 12, 2025, the Board of Directors amended the existing share repurchase program to authorize the repurchase of up to an additional 100,000 shares of the Company's common stock (as amended, the "Program"). The Program does not have a specified expiration date and the timing and amount of any repurchase under this Program will be determined by the Company's management at its discretion based upon its ongoing assessment of the capital needs of the business, the market price of the Company's common stock, and general market conditions.

L. Earnings Per Share

Basic earnings per share is based on the weighted average number of common shares outstanding during the year. Diluted earnings per share reflects the assumed exercise of outstanding options and the conversion of restricted stock units ("RSUs") under the Company's various stock compensation plans, except when RSUs and options have an antidilutive effect. There were no antidilutive RSUs and options outstanding at January 31, 2025. There were 15,000 antidilutive RSUs and options outstanding at January 31, 2024. The following is a reconciliation of basic to diluted weighted average common shares outstanding (in thousands):Three Months EndedNine Months EndedJanuary 31, 2025January 31, 2024January 31, 2025January 31, 2024Basic2,872 2,893 2,864 2,885 Dilutive effect of stock options and RSUs123 72 115 42 Weighted average common shares outstanding - diluted2,995 2,965 2,979 2,927 

M. Stock Options and Stock-based Compensation 

The Company recognizes compensation costs related to stock options and other stock awards granted by the Company as operating expenses over their vesting period.

15

In August 2023, the stockholders approved the 2023 Omnibus Incentive Plan ("2023 Plan"), which enables the Company to grant equity-based awards, with potential recipients including directors, consultants, and employees. This plan replaces the 2017 Omnibus Incentive Plan ("2017 Plan"). No new awards will be granted under the prior plans. All outstanding options granted under the prior plans remain subject to, and will be settled upon exercise under, the prior plans. At the date of approval of the 2023 Plan, there were 64,633 shares available for issuance under the 2017 Plan. These shares and any outstanding awards