secwatch.observer — SEC 8-K summary
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Issuer:     LSI INDUSTRIES INC (LYTS)
CIK:        0000763532
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001437749-23-024405
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

LSI Industries adopts FY2024 LTIP and STIP for named executives with EBITDA and RONA targets
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- CEO Clark gets RSUs of 47,022 and PSUs of 70,533; EVP & CFO Galeese gets 16,928 RSUs and 25,392 PSUs.
- LTIP PSUs vest based 50% on cumulative Adjusted EBITDA and 50% on RONA over 3-year cycle ending June 2026.
- STIP cash bonuses tied 80% to Adjusted EBITDA and 20% to Net Sales for FY2024; CEO target is 80% of salary.
- Payout for both plans ranges from 0% at threshold to 200% for exceeding targets, with interpolation.
- RSUs vest annually over 3 years; PSUs convert to time-based RSUs at target upon change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763532/000143774923024405/0001437749-23-024405-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763532/000143774923024405/lyts20230821_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-024405

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer