Company: NEOG
Filing Date: 2025-07-24
Form Type: 8-K
Source: 0000950170-25-098159
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Company: NEOGEN CORP
Filing Date: 2025-07-24
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 24, 2025, the Board of Directors of Neogen Corporation (the “ Company”) announced the appointment of Mikhael Nassif as President and Chief Executive Officer, effective August 11, 2025.

Mr. Nassif, age 49, joins the Company from Siemens Healthineers, where he has served as Global President of the Point-of-Care Diagnostics since September 2022. Prior to his time at Siemens Healthineers, Mr. Nassif served in various leadership positions at Baxter International Inc. (March 2017 to September 2022), Anheuser-Busch InBev (April 2015 to March 2017), and Johnson & Johnson (May 2009 to April 2015).

There are no arrangements or understandings between Mr. Nassif and any other person pursuant to which he was appointed, and there are no family relationships between Mr. Nassif and any director or executive officer of the Company. Mr. Nassif has no direct or indirect material interest in any transaction required to be disclosed under Item 404(a) of Regulation S-K.

Compensatory Arrangements

In connection with Mr. Nassif’s appointment, the Board approved the following compensation arrangements:

Base Salary: An annual base salary of $800,000, subject to periodic review and adjustment by the Board at the recommendation of the Compensation and Talent Management Committee.

Annual Bonus: Eligible to participate in the Company’s Incentive Compensation Plan (“ ICP”), with a target bonus opportunity equal to 100% of annual base salary. The ICP measures both Company financial metrics and personal performance with an opportunity between 0 - 250% of the target. For Fiscal Year 2026 (June 1, 2025 through May 31, 2026), Mr. Nassif will be eligible for the full year (no proration).

Long-Term Incentive Plan: Eligible for an annual grant of equity with a target of $4,500,000 in value at grant with a composition as recommended by the Compensation & Talent Management Committee and approved by the Board of Directors.

Sign-On Equity Grant: Mr. Nassif will receive a special, one-time equity grant of $2,000,000, comprised of 50% stock options and 50% RSUs with a four-year ratable