Company: KEQU
Filing Date: 2025-12-12
Form Type: 10-Q
Source: 0000055529-25-000054
Chunk: 56

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-12-12
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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, the market price of the Company's common stock, and general market conditions. The Company did not purchase any shares under its share repurchase program during the three and six months ended October 31, 2025. As of October 31, 2025, the total remaining purchase authorization was 100,603 shares.

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L. Earnings Per Share

Basic earnings per share is based on the weighted average number of common shares outstanding during the year. Diluted earnings per share reflects the assumed exercise of outstanding options and the conversion of restricted stock units ("RSUs") under the Company's various stock compensation plans, except when RSUs and options have an antidilutive effect. There were no antidilutive RSUs and options outstanding at October 31, 2025. There were no antidilutive RSUs and options outstanding at October 31, 2024. The following is a reconciliation of basic to diluted weighted average common shares outstanding (in thousands):Three Months EndedSix Months EndedOctober 31, 2025October 31, 2024October 31, 2025October 31, 2024Basic2,866 2,872 2,859 2,861 Dilutive effect of stock options and RSUs124 102 118 110 Weighted average common shares outstanding - diluted2,990 2,974 2,977 2,971 

M. Stock Options and Stock-based Compensation 

The Company recognizes compensation costs related to stock options and other stock awards granted by the Company as operating expenses over their vesting period.In August 2023, the stockholders approved the 2023 Omnibus Incentive Plan ("2023 Plan"), which enables the Company to grant equity-based awards, with potential recipients including directors, consultants, and employees. This plan replaces the 2017 Omnibus Incentive Plan ("2017 Plan"). All outstanding equity granted under the 2017 Plan remain subject to, and will be settled under, the 2017 Plan. At the date of approval of the 2023 Plan, there were 64,633 shares available for new awards under the 2017 Plan, and 168,791 shares available for issuance under equity awards outstanding under the 2017 Plan. These shares that were available for new awards and any shares subject to outstanding awards under the 2017 Plan that subsequently cease to be subject to such awards are available under the 2023 Plan. The 2023 Plan also increased the