Company: REX
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000930413-25-001442
Chunk: 16

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 16
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,201,196 |

Long-Term Incentive Program.The Company did not grant long-term incentive awards to the named executive officers for 2024.

Based on the market assessment prepared by Pearl Meyer, effective as of May 24, 2022, the Compensation Committee approved a grant to Messrs. Rizvi and Bruggeman of performance-based long-term incentive awards under the Company’s 2015 Incentive Plan (the “Plan”) in the form of restricted stock units (“RSUs”), with vesting and payment based on total shareholder return of the Company (the “2022 TSR Awards”). The target number of RSU’s subject to the 2022 TSR Awards granted to Messrs. Rizvi and Bruggeman (after adjustment for the three-for-one common stock split effective August 5, 2022) were 45,000 units and 22,500 units, respectively. The number of RSU’s subject to each 2022 TSR Award that could vest at the end of the three year performance period, which commenced January 1, 2022, ranged from 0% to 200% of the specified target number of RSUs subject to the award, based on the Company’s total shareholder return (“TSR”) in comparison to the TSR of the companies that comprised the Russell 2000 Index during the performance period (with the ending stock prices based on a 60-day average through February 13, 2025), provided that the recipient of the award remained a full-time employee of the Company during the entire performance period. If the Company’s TSR was negative during the performance period, the maximum number of RSU’s that could vest was 100%, even for performance above the 60th percentile of the index group.

The following table provides the TSR percentile rankings and corresponding payout levels:

| Company TSR Percentile Rank within the Russell 2000 Index: |     | Percentage Payout of  
 Target 2022 TSR Award |     | Actual Result |     |                 |     | Payout     
 Percentage |     |     |   |
| At or Below 40th percentile                                |     | 0%                    |     |               |     |                 |     |            |     |     |   |
| Above 40th percentile                                      |     | 50%                   |     |               |     |                 |     |            |     |     |   |
| Above 50th percentile                                      |     | 100%                  |     |               |