Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 336

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 8
Chunk 336
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  June 30, 2025, 2024 and 2023, respectively.
    
   As of  June 30, 2025, there was $0.4 million of unrecognized compensation costs related to awards expected to be recognized over a weighted-average period of 0.8 years.
    
   The fair value of the awards under the annual component of this incentive program is measured using the Black-Scholes option-pricing model.  Key assumptions used to apply this pricing model are as follows:

       2025    2024    2023  
 Risk-free interest rates   3.69%  4.52%  4.52%
 Expected life of option grants (in years)   3   3   3 
 Expected volatility of underlying stock   34.1%  29.5%  29.5%
 Expected quarterly dividends (per share)  $0.32  $0.28  $0.28 

   Under the long-term component, grants of performance share units (“PSUs”) are made annually to key employees and the share units are earned based on the achievement of certain overall corporate financial performance targets over the performance period.  At the end of the performance period, the number of shares of common stock issued will be determined by adjusting upward or downward from the target in a range between 50% and 250%.  No shares will be issued if the minimum performance threshold is not achieved. The final performance percentage, on which the payout will be based considering the performance metrics established for the performance period, will be certified by the Compensation Committee of the Board of Directors. 
    
   A participant’s right to any shares that are earned will cliff vest in three years.  An executive whose employment terminates prior to the vesting of any award for a reason other than death, disability, retirement, or following a change in control, will forfeit the shares represented by that award. In certain circumstances, such as death, disability, or retirement, PSUs are paid on a pro-rata basis.  In the event of a change in control, vesting of the awards granted is accelerated.
    
   A summary of the awards activity under the executive compensation program is as follows:

       Annual Component    Performance Stock Units  
      Weighted          Weighted 
   Number    Average    Aggregate    Number    Average