8-K
filed October 31, 2023, 7:59 PM ET
ticker NEOG
CIK 0000711377
other material
confidence high
sentiment neutral
materiality 0.60
Neogen enters new severance agreements, amends bylaws, and holds annual meeting
NEOGEN CORP
- New severance letters for CEO Adent, CFO Naemura, and other NEOs; 2x salary for CEO, 1x for others on non-Cause/Good Reason termination.
- CFO Naemura granted $2.2M retention options; vesting requires 20% stock price appreciation from grant date over a 7-year period.
- Bylaws amended effective Oct 26, 2023: advance notice deadline for shareholder proposals moved to 120-90 days; virtual meetings permitted; universal proxy rule compliance.
- Annual meeting Oct 25, 2023: directors Gupta, Rodriguez, Woteki elected; say-on-pay approved (188.9M for); 1-year frequency selected; 2023 Omnibus Plan approved (183.7M for); BDO ratified as auditor.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
NEOGEN CORP: Board approved amended and restated bylaws effective October 26, 2023, updating governance provisions including virtual meetings, shareholder nomination procedures, and officer powers (effective 2023-10-26).
- Change
- bylaw amendment
- Effective
- 2023-10-26
Exact text from the filing
On October 26, 2023, the Board of Directors of the Company approved the amended and restated bylaws (the bylaws, as so amended and restated, the “Amended and Restated Bylaws”), effective immediately.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
NEOGEN CORP shareholders approved To Approve, by Non-Binding Vote, the Compensation of the Company’s Named Executive Officers at the 2023-10-25 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-10-25
Exact text from the filing
Proposal 2 – To Approve, by Non-Binding Vote, the Compensation of the Company’s Named Executive Officers The shareholders approved, by non-binding vote, the compensation of the Company’s named executive officers, as disclosed in the proxy materials. For Against Abstain Broker Non-Vote 188,942,194 6,399,654 294,342 7,464,927
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
NEOGEN CORP shareholders approved Ratification of the Appointment of the Company’s Independent Registered Public Accounting Firm at the 2023-10-25 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-10-25
Exact text from the filing
Proposal 5 – Ratification of the Appointment of the Company’s Independent Registered Public Accounting Firm The shareholders ratified the appointment of BDO USA, P.A. as the Company’s auditors for the fiscal year ending May 31, 2024. For Against Abstain Broker Non-Vote 192,927,257 10,053,877 119,983 -
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
NEOGEN CORP shareholders approved Election of Directors at the 2023-10-25 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-10-25
Exact text from the filing
Proposal 1 – Election of Directors Nominee For Withheld Aashima Gupta 173,676,074 22,019,553 Raphael A. Rodriguez 187,452,904 8,242,723 Catherine E. Woteki, Ph.D. 190,787,923 4,907,704
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
NEOGEN CORP shareholders approved To Approve the Establishment of the Neogen Corporation 2023 Omnibus Incentive Plan at the 2023-10-25 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-10-25
Exact text from the filing
Proposal 4 – To Approve the Establishment of the Neogen Corporation 2023 Omnibus Incentive Plan The shareholders approved the establishment of the Neogen Corporation 2023 Omnibus Incentive Plan, as disclosed in the proxy materials. For Against Abstain Broker Non-Vote 183,704,273 11,662,966 268,951 7,464,927
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
NEOGEN CORP shareholders approved To Approve, on an Advisory Basis, the Frequency of Future Advisory Votes on Executive Compensation at the 2023-10-25 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-10-25
Exact text from the filing
Proposal 3 – To Approve, on an Advisory Basis, the Frequency of Future Advisory Votes on Executive Compensation The shareholders approved, on an advisory basis, the frequency of future advisory votes on executive compensation, as disclosed in the proxy materials. 1 Year 2 Years 3 Years Abstain 194,187,940 83,339 1,162,434 202,477
View on SEC.gov
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