Company: NEOG
Filing Date: 2025-09-12
Form Type: DEF 14A
Source: 0000950170-25-114381
Chunk: 37

Company: NEOGEN CORP
Filing Date: 2025-09-12
Form: DEF 14A
Chunk 37
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Us      
 Granted   |         |     | Compensation Cost Recognized for RSU Grants (1) |           |
|:-----------------|:----|:----------|--------:|:----|:------------------------------------------------|----------:|
| John E. Adent    |     |           | 107,207 |     | $                                               | 1,800,000 |
| Douglas E. Jones |     |           |  42,883 |     |                                                 |   720,000 |
| David H. Naemura |     |           |  52,917 |     |                                                 |   836,400 |
| Amy M. Rocklin   |     |           |  30,971 |     |                                                 |   520,000 |

(1) Compensation cost is calculated as the closing market price on the grant date ($16.79 on August 15, 2024) multiplied by the number of RSUs granted. For purpose of this disclosure, the calculations do not attribute the compensation cost to the requisite vesting period. Mr. Naemura’s January 16, 2025 prorata grant as a result of promotion was made as of the closing market price on the grant date ($11.60 on January 16, 2025) multiplied by the number of RSUs granted. Fiscal Year 2026 Compensation Decisions Following the 2024 say-on-pay shareholder vote, which did not receive majority shareholder support, the Board engaged with shareholders and conducted a thorough review of our executive compensation program. In response to the feedback received, we enhanced our LTI plan by introducing performance share units (PSUs) beginning in fiscal year 2026. The PSUs are designed to strengthen the alignment between executive pay and long-term company performance by tying the payout of awards to the achievement of rigorous, multi-year performance goals. On August 15, 2025, the Company granted PSUs to its executives representing a value equal to 50% of the executive’s total fiscal 2026 award value. Each PSU represents the right to receive one share of the Company’s common stock based on the actual performance by the Company over a three-year performance period consisting of fiscal years 2026, 2027, and 2028 (the “Performance Period”) on the following three metrics as compared to targets established by the Company:

| Performance Metric                             | Weighting |
| Revenue – Compounded Annual Growth Rate (CAGR) | 40%       |
| Adjusted EBIT