Company: NEOG
Filing Date: 2025-09-12
Form Type: DEF 14A
Source: 0000950170-25-114381
Chunk: 34

Company: NEOGEN CORP
Filing Date: 2025-09-12
Form: DEF 14A
Chunk 34
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 |              |   | 227,500 |     |                |    | 0 |     |            | 0 | % |     |                           | 0 | % |

(1) Mr. Jones’ target award value for fiscal year 2025 was prorated to reflect his eligibility through February 28, 2025, the date he transitioned out of the Chief Operating Officer role. For fiscal year 2025 the overall financial results were 0% of target as threshold performance was not met for any of the three metrics that were established at the beginning of fiscal year 2025. The Compensation Committee did not exercise any discretion under the PPF to award any discretionary bonus. As a result, no bonuses were provided to any NEO pursuant to the fiscal year 2025 ICP, as illustrated in the table above Long-Term Incentive (LTI) Compensation In fiscal year 2025 we used a balanced approach with our equity compensation and granted a combination of both time-based RSUs and stock options. The fiscal year 2025 equity awards were approved prior to the results of the 2024 say-on-pay vote, which we subsequently took into account to make certain adjustments to the design of our fiscal year 2026 equity compensation grants, as further described below under “Fiscal Year 2026 LTI Compensation Decisions”. The objectives of our long-term incentive compensation program are to: • Align the personal and financial interests of executives and eligible employees with shareholder interests; • Balance short-term decision-making with a focus on driving shareholder value over the long-term; • Provide a means to attract, reward and retain a highly skilled management team; and • Provide the opportunity to increase ownership interest in the Company, aligning the interests of the executives with those of our shareholders. Fiscal year 2025 LTI compensation was granted as follows:

| LTI Vehicle                      | Terms                               | Weighting for NEOs      |
| Restricted Stock Units (RSUs)(1) | 3-year ratable vesting              | CEO 30%; Other NEOs 40% |
| Stock Options(2)                 | 3-year ratable vesting; 7-year term | CEO 70%; Other NEOs 60% |

(1) RSUs are intended to promote retention, while also subjecting our NEOs to the same market fluctuations as our stockholders (2) Stock options are intended to provide value to our NEOs only if the stock price increases over the price at which they are granted,