Company: NEOG
Filing Date: 2025-09-12
Form Type: DEF 14A
Source: 0000950170-25-114381
Chunk: 35

Company: NEOGEN CORP
Filing Date: 2025-09-12
Form: DEF 14A
Chunk 35
---
 which is the market price of our common stock on the grant date. Annual RSU and stock option grants to executives and other eligible employees are approved annually by the Compensation Committee, with grants to the CEO being subject to further approval by the Board of Directors. Management makes recommendations to the Compensation Committee as to the stock option and RSU award eligibility and levels. While no specific or absolute performance measures are applied, numerous factors are considered in determining the option or RSU award to an individual including his or her level of responsibility and position within the Company, demonstrated performance over time, value to the Company’s past and future success, historic grants, retention concerns and, in the aggregate, share availability under the plan, overall Company expense and shareholder dilution from awards. For executive officers, the Committee reviews information on grants made over

| Neogen Corporation | 2025 Proxy Statement | 34 |

#### Compensation Discussion and Analysis
the past three years and the accumulated value of all outstanding stock option and RSU awards held by each executive officer. Annual awards of equity are typically made in August, although occasional off-cycle grants may be made to select new hires or in connection with promotions. The annual LTI award for fiscal year 2025 was made in August 2025; however, an additional grant was made to Mr. Naemura in January 2025, as noted in the footnotes to the table below. All fiscal year 2025 RSU and stock option grants were made under the Neogen Corporation 2023 Omnibus Incentive Plan (the “2023 Plan”), which was approved by our shareholders at the 2023 Annual Meeting of Shareholders. The table below shows the target LTI award value for each of the NEOs in fiscal year 2025 as compared to fiscal year 2024:

| Name                  | Fiscal Year 2025 LTI Value |               |            | Fiscal Year 2024 LTI Value |               |            | % Change(2) |
|                       |                       RSUs | Stock Options |      Total |                       RSUs | Stock Options |      Total |             |
| John E. Adent         |                 $1,800,000 |    $4,200,000 | $6,000,000 |                 $1,800,000 |    $4,200,000 | $6,000,000 | 0%          |
| Douglas E. Jones      |                   $720,000 |    $1,080,000 | $1,800