Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 1084

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 6
Chunk 1084
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.41, and $98.36, respectively.  The PSUs granted in fiscal years 2024 and 2023 had a weighted average grant date fair value of $81.41 and $89.44, respectively. The grant date fair value of the PSUs is determined based on the closing price of the Company’s common stock on the date of grant. The fair value of PSUs vested under the long-term component of this program during the fiscal years ended  June 30, 2025, 2024, and 2023 was $7.9 million, $21.4 million, and $4.6 million respectively.
    
   The Company recognized compensation expense related to the PSUs of $1.9 million, $2.9 million, and $6.7 million for the fiscal years ended  June 30, 2025, 2024 and 2023 respectively based on the probability of the performance targets being met. The total unrecognized compensation costs related to non-vested performance share units was $4.4 million at  June 30, 2025, which is expected to be recognized over a weighted average period of 0.9 years.
    
   Employee Stock Purchase Plan
    
   The Company has an Employee Stock Purchase Plan that allows employees to purchase shares of common stock of the Company at a discount from the market each quarter. The ESPP plan, which was effective as of  July 1, 2005, provided employees the option to purchase Standex stock at a discount of 5%. The Plan was modified, effective as of  April 1, 2017, to increase the stock purchase discount to 15% and is considered a compensatory Plan. Under this amendment, at the beginning of each calendar quarter, employees  may elect to purchase shares of Company stock at a value equal to 85% of the closing price on the last trading day of the quarter. The 15% discount is recorded as a component of SG&A in the Company’s Consolidated Statements of Operations. Shares of stock reserved for the plan were 33,841 at  June 30, 2025. Shares purchased under this plan aggregated to 4,393 in fiscal year 2025, 3,778 in 2024, and 6,256 in 2023, at an average price of $143.52, $137.38, and $91.78, respectively.