Company: NEOG
Filing Date: 2025-09-12
Form Type: DEF 14A
Source: 0000950170-25-114381
Chunk: 31

Company: NEOGEN CORP
Filing Date: 2025-09-12
Form: DEF 14A
Chunk 31
---
 The Compensation Committee determined that both Farient and Meridian are independent as it relates to the SEC guidelines. Peer Group and Competitive Market Data An important element of our overall compensation philosophy is to deliver a total compensation opportunity that is competitive with the market median with the ability to differentiate based on individual performance, future potential, strategic needs, labor market for talent and other individual and company-specific attributes. Consistent with our strong emphasis on at-risk and variable compensation, we provide the opportunity to earn significantly above target compensation levels based on strong company and individual performance. We place a strong emphasis on long-term incentives in the form of equity compensation aligning leadership with shareholder interests. As part of that philosophy, the Compensation Committee considers the publicly disclosed executive compensation practices of companies in a selected peer group as one of several factors in setting compensation. The Compensation Committee also considers competitive data from relevant, published compensation surveys as another source of competitive pay data. The Compensation Committee reviews the peer group annually in consultation with its independent compensation consultant to assess if changes should be made. The Committee considers factors such as industry, business model, product type, and revenue size of companies for the peer group. The fiscal year 2025 peer group consisted of the following companies:

| •10x Genomics, Inc.               | •Mettler-Toledo International, Inc. |
| •Azenta, Inc.                     | •Maravai LifeScience Holdings, Inc. |
| •Bio-Rad Laboratories, Inc.       | •Natera, Inc.                       |
| •Bio-Techne Corporation           | •NeoGenomics, Inc.                  |
| •Bruker Corporation               | •OraSure Technologies, Inc.         |
| •Charles River Laboratories, Inc. | •QuidelOrtho Corporation            |
| •Exact Sciences Corporation       | •Repligen Corporation               |
| •Guardant Health, Inc.            | •Sotera Health Company              |
| •IDEXX Laboratories, Inc.         | •Waters Corporation                 |
| •iRhythm Technologies, Inc.       |                                     |

| Neogen Corporation | 2025 Proxy Statement | 31 |

#### Compensation Discussion and Analysis
2025 Compensation Highlights Base Salary Base salary is intended to provide a market competitive, stable source of income that recognizes the day-to-day responsibilities of the role. Each NEO’s salary and performance is reviewed annually. Factors considered in determining the level of executive base pay include the role and responsibilities of the position, market competitiveness, performance against expectations and an individual’s job