Company: REX
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000930413-25-001442
Chunk: 26

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 26
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 the award were based would be deemed satisfied at the greater of the 150% level of performance or the Company’s actual TSR performance as of the date of the change in control relative to the index group. If the 2022 TSR Award was assumed or substituted by the acquirer or a specified related party in connection with the change in control, the award would vest and become payable if the executive remained employed through the end of the three-year performance period (or his earlier death or disability or the termination of his employment by the Company without cause or by him for good reason). If the 2022 TSR Award was not so assumed or substituted in connection with the change of control, the award would become fully vested as of the date of the change in control and would be paid within 30 days thereafter.

Termination Without Cause or for Good Reason.If the employment of our named executive officers were terminated without cause, or terminated for good reason following a change in control, as provided in their respective employment agreements, our named executive officers would have been entitled to the following lump sum amounts as of January 31, 2025:

| Name          |     | Salary1 |     |   |     | Incentive 
 Award2    |   |     |           |     | Accelerated Vesting  
 of Restricted Stock3 |   |     |           |     | Accelerated Vesting 
 of 2022 TSR Awards4 |   |     |           |     | Total |   |     |            |
|:--------------|:----|:--------|:----|:--|:----|:----------|:--|:----|----------:|:----|:---------------------|:--|:----|----------:|:----|:--------------------|:--|:----|----------:|:----|:------|:--|:----|-----------:|
| Mr. Rizvi     |     |         |     | — |     |           | $ |     | 6,000,000 |     |                      | $ |     | 2,916,437 |     |                     | $ |     | 2,778,552 |     |       | $ |     | 11,694,989 |
| Mr. Bruggeman |     |         |     | — |     |           | $ |     | 3,000,000 |     |                      | $ |     | 1,477,222 |     |                     | $ |     | 1,