Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 773

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 4
Chunk 773
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 Administrative Expenses. The total income tax benefit recognized in the consolidated statement of operations for equity-based compensation plans was $1.4 million, $2.2 million, and $1.8 million for the years ended  June 30, 2025, 2024 and 2023, respectively.
    
   There were 168,537 shares of common stock reserved for issuance under various compensation plans at  June 30, 2025. 
    
   Restricted Stock Awards
    
   The Company  may award shares of restricted stock to eligible employees and non-employee directors of the Company at no cost, giving them, in most instances, all of the rights of stockholders, except that they  may not sell, assign, pledge or otherwise encumber such shares and rights during the restriction period.  Such shares and rights are subject to forfeiture if certain employment conditions are not met.  During the restriction period, recipients of the shares are entitled to dividend equivalents on such shares, providing that such shares are not forfeited.  Dividends are accumulated and paid out at the end of the restriction period.  Restrictions on non-vested stock awards generally lapse between fiscal year 2025 and fiscal year 2027. Compensation expense related to stock awards recognized was $5.2 million, $6.0 million, and $4.8 million, respectively, for fiscal years ended  June 30, 2025, 2024, and 2023.  Substantially all awards are expected to vest.

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   A summary of restricted stock awards activity is as follows:

       Restricted Stock Awards  
      Weighted 
   Number    Average  
   of    Grant Date  
   Shares    Fair Value  
 Outstanding, June 30, 2024   85,548  $122.00 
 Granted   32,569   177.17 
 Vested   (39,231)  121.02 
 Canceled   (2,251)  152.37 
 Outstanding, June 30, 2025   76,635  $145.06 

   Restricted stock awards granted during fiscal years 2024 and 2023 had a weighted average grant date fair value of $151.99 and $95.32, respectively.  The grant date fair value of restricted stock awards is determined based on