Company: NEOG
Filing Date: 2025-09-12
Form Type: DEF 14A
Source: 0000950170-25-114381
Chunk: 29

Company: NEOGEN CORP
Filing Date: 2025-09-12
Form: DEF 14A
Chunk 29
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Our Compensation Philosophy: We Pay for Performance

The Company’s executive compensation programs are designed to be aligned with shareholder value creation and are structured to reward individual and organizational performance. These objectives are intended to be simple, concise and understandable. A significant percentage of each NEO’s compensation is variable, or "at risk".

The primary objectives of the compensation programs covering NEOs are to:

Attract, retain, and motivate highly talented executives with a passion for innovation and creativity who will drive the success of the business;

Incentivize achievement of measurable corporate and individual performance objectives based on financial and non-financial measures, as appropriate; and

Provide overall compensation that is market competitive and aligns the interests of its executives with those of our shareholders.

The following table is presented to provide additional context regarding the CEO’s realized pay over the past three fiscal years, relative to the Summary Compensation Table (SCT) reported values. A substantial portion of the CEO’s compensation is performance-based, contingent on Neogen’s financial and operational results, and directly tied to stock price performance – ensuring alignment with shareholder interests.

As shown, the CEO’s three-year realizable pay totals, are in each instance, less than 25% of the reported Summary Compensation Table totals. This represents a shortfall of approximately 76% or more from the reported SCT total compensation, reflecting the impact of performance outcomes and market conditions on actual realized pay.

Fiscal Year 2025 Pay Mix

In support of our pay-for-performance philosophy, a large majority of the target total direct compensation for our NEOs under our regular, annual compensation program is allocated to variable, at-risk compensation. The pay structure for Mr. Adent was weighted even more heavily towards variable and performance-based compensation, with 89% of his target total direct compensation for fiscal year 2025 designed to be at risk. The charts below show, for our CEO and on average for our other NEOs, the mix of compensation at target under our fiscal year 2025 compensation programs.

| Neogen Corporation | 2025 Proxy Statement | 29 |

#### Compensation Discussion and Analysis
| CEO Compensation |     | Other NEO Compensation (1) |

(1) Fiscal year pay components for Mr. Jones reflect pre-retirement salary package in fiscal year 2025. Key Fiscal Year 2025 Compensation Elements The primary compensation elements provided to NEOs are: • Base salary that recognizes day-to-day role and responsibilities; • Annual bonus opportunity based on achievement of Company financial metrics that reward overall Company performance, as measured by key