Company: NEOG
Filing Date: 2025-08-21
Form Type: 8-K
Source: 0000950170-25-110547
Chunk: 2

Company: NEOGEN CORP
Filing Date: 2025-08-21
Form: 8-K
Item: Item 5.02
Chunk 2
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 Form 8-K filed July 24, 2025, the total fiscal 2026 long-term incentive grant to Mr. Nassif is valued at $4.5 million, with the composition of such grant to be approved by the Board of Directors. In addition to the PSUs disclosed above (representing 50% of the grant), the Board of Directors approved the balance of such grant being awarded in stock options (50% of the grant). Accordingly, on August 15, 2025, the Company granted Mr. Nassif options to purchase up to 1,065,042 shares of the Company’s common stock as part of his fiscal 2026 long-term incentive compensation. The options vest ratably over three years, have a ten year term, and have a strike price per share equal to the closing price of the Company’s common stock on the grant date ($5.43). The options were awarded as an inducement grant in connection with the hiring and appointment of Mr. Nassif as CEO effective August 11, 2025, and were not granted pursuant to the Neogen Corporation 2023 Omnibus Incentive Plan (the “Plan”); however, the options were granted on terms materially consistent with the terms specified by the Plan.

Similarly, the balance (50% of the total award) of the fiscal 2026 long-term incentive award for the other NEOs was also awarded in stock options. Accordingly, on August 15, 2025, the Company granted Mr. Naemura and Ms. Rocklin options to purchase up to 591,690 and 307,680 shares of the Company’s common stock, respectively, as part of their fiscal 2026 long-term incentive compensation. The options vest ratably over three years, have a ten year term, and have a strike price per share equal to the closing price of the Company’s common stock on the grant date ($5.43). The options granted to Mr. Naemura and Ms. Rocklin were granted pursuant to the Plan.

The above summary of the options granted to the NEOs is qualified in its entirety by the terms of the actual award agreements, which will be filed as exhibits to the Company’s Form 10-Q for the fiscal quarter ending August 31, 2025.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

  104      Cover Page Interactive Data File (embedded within the Inline XBRL document).