Company: KEQU
Filing Date: 2025-07-02
Form Type: 10-K
Source: 0000055529-25-000026
Chunk: 107

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-07-02
Form: 10-K
Item: Item 1A
Chunk 107
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 RSUsWeighted Average Grant Date Fair ValueOutstanding at beginning of year168,791 $15.35 159,640 $11.94 Granted62,326 $37.46 117,747 $15.97 Vested(41,674)$14.32 (103,519)$11.03 Forfeited(2,217)$24.77 (5,077)$10.54 Outstanding at end of year187,226 $22.83 168,791 $15.35 The stockholders approved the 2008 Key Employee Stock Option Plan in fiscal year 2009 which allowed the Company to grant options on an aggregate of 300,000 shares of the Company's common stock and an amendment to the plan in August 2015, authorizing an additional 300,000 shares. Under the plan, options were granted at not less than the fair market value at the date of grant with options exercisable in such installments, for such terms (up to 10 years). This plan was replaced by the 2017 Omnibus Plan with all outstanding options granted under the prior plan to remain subject to the prior plan. The Company did not record any

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 compensation expense related to outstanding stock options in fiscal years 2025 or 2024. There were no options outstanding at April 30, 2025.The Company issued new shares of common stock to satisfy options exercised during fiscal years 2025 and 2024. Stock option activity and weighted average exercise price are summarized as follows:20252024Numberof SharesWeighted Average Exercise PriceNumberof SharesWeighted Average Exercise PriceOutstanding at beginning of year24,700 $20.05 33,900 $19.97 Canceled— $— (3,700)$16.09 Exercised(24,700)$20.05 (5,500)$22.21 Outstanding at end of year— $— 24,700 $20.05 Exercisable at end of year— $— 24,700 $20.05 

Note 10 - Stockholder's Equity

Common StockThe Company is authorized to issue 5,000,000 shares of Common Stock, par value of $2.50 per share. Holders of the Company's Common Stock are entitled to 1 vote per share. At April 30, 2025, and