Company: NEOG
Filing Date: 2025-08-21
Form Type: 8-K
Source: 0000950170-25-110547
Chunk: 1

Company: NEOGEN CORP
Filing Date: 2025-08-21
Form: 8-K
Item: Item 5.02
Chunk 1
---
 the target PSUs, and performance between those performance levels will result in an award determined based on straight line interpolation. As a result, the maximum number of shares of the Company’s common stock that may be issuable for each PSU award is equal to 200% of the target number of PSUs.

In addition, each PSU award will be subject to a modifier based on the Company’s relative total shareholder return (rTSR) over the Performance Period compared to a peer group comprised of the companies within the S& P 600 Healthcare Equipment & Services (subject to potential adjustment to account for certain extraordinary events, the “Peer Group”). The rTSR modifier provides for a 20% increase to the earned PSUs if our relative TSR performance is at or above the 75th percentile of the Peer Group (subject to the overall maximum award equal to 200% of target) or a 20% decrease to the PSUs earned if our relative TSR performance is below the 25th percentile of the Peer Group. There will be no modification to the number of earned PSUs if our relative TSR performance is at least equal to the 25 th percentile but less than the 75 th percentile of the Peer Group.

Within 90 days following the end of the Performance Period, the Compensation & Talent Management Committee of the Board of Directors (the “Committee”) will determine the Company’s actual performance over the Performance Period as compared to the metrics established by the Company and the application of the rTSR multiplier. To the extent any PSUs are actually earned by the NEO based on these determinations, shares of the Company’s common stock will be issued to the NEO as soon as practicable thereafter. Such shares will be fully-vested upon issuance. Until such time that shares are issued upon the settlement of PSUs, if any, the PSUs do not entitle the NEOs to any ownership interest in any shares or any rights of a shareholder with respect to the PSUs.

These awards were approved by the Committee and, with respect to the CEO, by the full Board of Directors. The PSUs represent 50% of each NEO’s target long-term incentive compensation for fiscal 2026.

The above summary of these PSUs 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.

Balance of Fiscal 2026 Long-Term Incentive Grants

As previously disclosed on a