Company: REX
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000930413-25-001442
Chunk: 23

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 23
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 opportunity for fiscal 2024, which is specified in his employment agreement, was earned at 4.5% of Adjusted Net              
 Income (as previously defined), subject to a maximum $5,000,000 incentive payout for the year. Mr. Bruggeman’s annual incentive award opportunity for fiscal 2024, which is specified in his employment agreement, was earned at 2.25% of Adjusted Net Income, subject to a maximum $2,500,000 incentive payout              
 for the year. Mr. Rose’s annual incentive award opportunity for fiscal 2024, which is specified in his employment agreement, was earned at 2.5% of Adjusted Net Income, subject to a maximum $2,500,000 incentive payout for the year. 25% of each executive’s annual incentive award will be paid in an award of            
 restricted stock based on the closing price of our common stock on June 16, 2025, vesting in one-third installments on the first three anniversaries of the grant. The 75% balance of each executive’s annual incentive award was paid in cash and is reported in the “Non-Equity Incentive Plan Compensation” column in     
 the Summary Compensation Table. The target amounts of the annual incentive opportunity are not determinable at the time of grant. Pursuant to applicable SEC rules, we have provided a representative “target” amount based on the previous fiscal year’s performance.                                                       |
| 2 |     | The number of shares of restricted stock to be granted to the named executive officers under the annual incentive program for fiscal 2024 (one-quarter of the amount of the incentive award earned for fiscal 2024) will not be determined until the restricted stock is issued in June, 2025. The restricted stock vests in 
 three equal annual installments.                                                                                                                                                                                                                                                                                             |
| 3 |     | This column reflects the aggregate grant date fair value, as determined in accordance with Topic 718, of the restricted stock earned with respect to the fiscal 2024 annual incentive award. See footnote 1 to the Summary Compensation Table of this proxy statement for the assumptions used to calculate these values.    |

Outstanding Equity Awards at Fiscal 2024 Year-End

The following table sets forth information concerning restricted stock and the 2022 TSR Awards that have not vested for each named executive officer outstanding as of the end of fiscal 2024.

| Name          | Number of        
 Shares or Units  
 of Stock That    
 Have Not V