Company: KEQU
Filing Date: 2025-07-07
Form Type: DEF 14A
Source: 0001140361-25-025051
Chunk: 11

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-07-07
Form: DEF 14A
Chunk 11
---
 that prohibits retaliation against, or discipline of, an employee who raises an ethical concern in good faith. This system documents the reporting person’s statement and transmits the information to the appropriate Board or management personnel with oversight of the area identified in the report. Those personnel have the authority to conduct an investigation, research applicable policies, regulations, and statutes, and determine the appropriate action to resolve the reported item. Director and Executive Officer Stock Ownership Guidelines Effective March 1, 2017, the Board approved stock ownership guidelines under which non-employee directors of the Company are expected to maintain ownership of a minimum amount of Company common stock equal in value to three times their annual retainer. Once this requirement has been met, the director can elect to receive cash compensation in lieu of compensation that would otherwise be paid in the form of equity. In June 2025, the Board amended the stock ownership guidelines for the Company’s executive officers. Under the guidelines, the Chief Executive Officer must maintain ownership of a minimum amount of Company common stock equal in value to 300% of his annual salary, including outstanding shares owned, as well as the value of shares underlying unvested equity awards subject to a service component. The Chief Financial Officer must maintain ownership of a minimum amount of Company common stock equal in value to 200% of his annual salary, including outstanding shares owned, as well as the value of shares underlying unvested equity awards subject to a service component. All other executive officers must maintain ownership of a minimum amount of Company stock equal in value to 150% of their annual salary, including outstanding shares owned, as well as the value of shares underlying unvested equity awards subject to a service component. The per share value is calculated as a trailing 12-month equal weighted daily average for all officers. The Company does not have a policy specifically prohibiting employees or directors from engaging in hedging transactions relating to the Company’s securities. Insider Trading Policy We have adopted an insider trading policy and related procedures governing the purchase, sale, or other dispositions of our securities by our directors, officers and employees, that are reasonably designed to promote compliance with insider trading laws, rules and regulations, and Nasdaq listing standards. A copy of our insider trading policy has been filed as an exhibit to our Annual Report on Form 10-K for our fiscal year ended April 30, 2025. 7 ITEM 2. RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The Audit Committee has approved the engagement of FORVIS MAZ