Company: REX
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000930413-25-001442
Chunk: 21

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 21
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 | 2,573,332 |
| the Board                   |     |      |     | 2022 |     |        | $ |     | 225,000 |     |         | $ |     |   260,817 |     |                | $ |     |   782,451 |     |               |   |     |   — |     |       | $ |     | 1,268,268 |

| 1 |     | This column reflects the aggregate grant date fair value of (i) restricted stock that was earned by the named executive officers under the annual incentive program (which is payable one-quarter in restricted stock and the remainder in cash), (ii) restricted stock granted as an additional long-term incentive to Messrs. 
 Rizvi and Bruggeman in 2023, and (iii) for 2022 only, performance-based long-term incentive awards granted in 2022 with vesting and payment based on the Company’s total shareholder return (“TSR”) over the three year performance period compared to the TSR of the companies comprising the Russell 2000                     
 Index (the “2022 TSR Awards”) to Messrs. Rizvi and Bruggeman, in each case computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718 (“Topic 718”). The grant date fair value of the 2022 TSR Awards was based on the probable outcome of the                                
 applicable performance conditions as of the date of grant. The grant date fair value of the 2022 TSR Awards for 2022, assuming that the maximum level of performance would be achieved, was as follows: for Mr. Rizvi $2,614,500, and for Mr. Bruggeman $1,307,250. For a discussion of the assumptions that we used            
 to value the restricted stock awards and the 2022 TSR Awards for financial accounting purposes, please refer to “Note 10—Employee Benefits” in the notes to our consolidated financial statements contained in our Annual Report on Form 10-K for the year ended January 31, 2025. The 2022 TSR Awards were                     
 earned at 148% of the target award (based on TSR results through December 31, 2024, with the number of shares determined on February 13, 2025, using a 60-day average price), resulting in a payout of 66,600 fully vested shares for Mr. Rizvi and 33,300 fully vested shares for Mr.