Company: NEOG
Filing Date: 2025-09-12
Form Type: DEF 14A
Source: 0000950170-25-114381
Chunk: 36

Company: NEOGEN CORP
Filing Date: 2025-09-12
Form: DEF 14A
Chunk 36
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 FASB Codification. This amount will be recognized over the vesting period of the grants. (2) The stock option Codification Topic 718 values throughout this Proxy Statement have been calculated using the Black-Scholes option pricing model using the assumptions in the table below.

| Black-Scholes Model Assumptions (1) |     |            2025 |   |   |     |      2024 |      |   |     |      2023 |      |   |     |      2022 |      |   |     |      2021 |      |   |
| Risk-free interest rate             |     |   3.71% - 4.44% |   |   |     |           |  4.7 | % |     |           |  3.3 | % |     |           |  0.4 | % |     |           |  0.2 | % |
| Expected dividend yield             |     |                 | 0 | % |     |           |    0 | % |     |           |    0 | % |     |           |    0 | % |     |           |    0 | % |
| Expected stock price volatility     |     | 37.67% - 38.48% |   |   |     |           | 37.3 | % |     |           | 34.0 | % |     |           | 32.8 | % |     |           | 31.3 | % |
| Expected option life                |     |       3.4 years |   |   |     | 4.5 years |      |   |     | 4.5 years |      |   |     | 3.1 years |      |   |     | 3.3 years |      |   |

(1) The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Expected stock price volatility is based on historical volatility of the Company’s stock. The expected option life, representing the period of time that options are expected to be outstanding, is based on historical option exercise and employee termination data.

| Neogen Corporation | 2025 Proxy Statement | 35 |

#### Compensation Discussion and Analysis
The table below shows the number of RSUs granted to each of the NEOs in fiscal year 2025.

| Name             |     | Number of 
 RS