NORTHERN TECHNOLOGIES INTERNATIONAL CORP
For the period ended Jan 16, 2026. Filed Dec 1, 2025.
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Jan 16, 2026 · Filed Dec 1, 2025
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Contents
PROXY STATEMENT SUMMARY
This executive summary provides an overview of the information included in this proxy statement. We recommend that you review the entire proxy statement and our Fiscal 2025 Annual Report to Stockholders before voting.
| 2026 ANNUAL MEETING OF STOCKHOLDERS | |||
|---|---|---|---|
| DATE AND TIME | Proposal | Board’s Vote Recommendation | Page |
| Friday, January 16, 2026 8:00 a.m. (Central Time) | Proposal One: Election of directors | FOR | 20 |
| LOCATION | Proposal Two: Advisory vote on executive compensation | FOR | 25 |
| 4201 Woodland Road Circle Pines, MN 55014 | Proposal Three: Advisory vote on frequency of advisory vote on executive compensation | ONE YEAR | 27 |
| RECORD DATE November 18, 2025 | Proposal Four: Ratification of appointment of independent registered public accounting firm | FOR | 29 |
Holders of record of our common stock at the close of business on November 18, 2025 are entitled to notice of, to attend, and to vote at the 2026 Annual Meeting of Stockholders or any continuation, postponement, or adjournment thereof.
On or about December 1, 2025, we expect to begin mailing a Notice of Internet Availability of Proxy Materials to stockholders of record as of November 18, 2025 and post our proxy materials on the website referenced in the Notice of Internet Availability of Proxy Materials (www.proxyvote.com).
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON JANUARY 16, 2026
This proxy statement and our Fiscal 2025 Annual Report to Stockholders are available on the Internet, free of charge, atwww.proxyvote.com. On this website, you will be able to access this proxy statement, our Fiscal 2025 Annual Report to Stockholders, and any amendments or supplements to these materials that are required to be furnished to stockholders. We encourage you to access and review all of the important information contained in the proxy materials before voting.
FISCAL 2025 BUSINESS HIGHLIGHTS
Below are highlights of our financial, operational and strategic performance during fiscal 2025.
| FINANCIAL | |
|---|---|
| Net Sales | Our net sales were $84.2 million during fiscal 2025, a slight decrease from last fiscal year’s record net sales. |
| Net Income Attributable to NTIC | Reflecting a challenging macroenvironment, our net income attributable to NTIC decreased to $18,000, or $0.00 per diluted common share, for fiscal 2025 compared to $5.4 million, or $0.55 per diluted common share, for fiscal 2024. This decrease was primarily due to increases in operating expenses, decreases in gross margin and income from our joint venture operations and the other expense incurred as a result of a Chinese Customs issue and was partially offset by a one-time employee retention credit payment. |
| Quarterly Cash Dividends | While we paid a quarterly cash dividend of $0.07 per share for the first and second quarters of fiscal 2025, we reduced our quarterly cash dividend to $0.01 per share for the third and fourth quarters of fiscal 2025 to conserve cash resources. |
| OPERATIONAL | |
| 15 Joint Ventures | Our 15 active joint ventures provide us with access to global markets with an annual global market potential estimated at $500 million. |
| 12 Operating Subsidiaries | We maintain 12 wholly or majority-owned operating subsidiaries in North America, South America, Europe and Asia. |
| Over 65 Countries | Our network of joint ventures and subsidiaries allows us to operate in over 65 countries worldwide, allowing us to reach customers globally. |
| STRATEGIC | |
| Industrial Manufacturing Industry | ZERUST® rust and corrosion inhibiting packaging solutions resolve corrosion problems while reducing operating costs, increasing productivity and enhancing customer satisfaction. During fiscal 2025, ZERUST® industrial sales increased by 2.4% compared to fiscal 2024 as a result of increased demand for North American products. |
| Oil and Gas Industry | Our global network of trained corrosion management professionals and channel partners help us develop specialized corrosion mitigation solutions for the oil and gas industry, provide local support, and conduct client training. ZERUST® Oil & Gas net sales were $7.3 million, down from record sales in fiscal 2024. |
| Bioplastics Industry | Our Natur-Tec® biobased and compostable plastics are manufactured using NTIC’s patented and/or proprietary technologies and are intended to replace conventional plastics and thereby reduce our customers’ carbon footprint and provide environmentally sound waste disposal options. Natur-Tec® net sales were $21.7 million, down from record sales in fiscal 2024. |
| CORPORATE GOVERNANCE HIGHLIGHTS | |||
|---|---|---|---|
| ✔ | Annual election of directors | ✔ | Recent Board committee Chair rotations |
| ✔ | 75% independent directors | ✔ | No poison pill |
| ✔ | Independent Board Chair | ✔ | Annual say-on-pay vote |
| ✔ | Three fully independent Board committees | ✔ | Robust clawback policy |
| ✔ | Corporate governance guidelines | ✔ | No guaranteed bonuses or significant perks |
| ✔ | Annual review of governance documents | ✔ | Limits on other board memberships |
| ✔ | Stock ownership guidelines for executive officers and directors | ✔ | Board oversight of cybersecurity and other key risks |
STOCKHOLDER ENGAGEMENT
We are committed to a robust and proactive stockholder engagement program. The Board of Directors values the perspectives of our stockholders, and feedback from stockholders on our business, corporate governance, executive compensation, and sustainability practices are important considerations for Board discussions throughout the year. Some of the actions we have taken in response to feedback from proxy advisory firms and stockholders over the last several years are described below.
| What We Heard | What We Did |
|---|---|
| Encourage Board refreshment | We added Cristina Pinho to our Board in January 2023 and rotated our Compensation Committee and Nominating and Corporate Governance Committee Chairs in November 2024. |
| Increase stockholder influence over director elections | We adopted a “plurality plus” vote standard for uncontested director elections, with a director resignation policy, instead of a simple plurality vote standard. |
| Align long-term incentives | We extended the vesting of our annual stock option grants to three-year vesting in response to a concern raised by one of our institutional stockholders. |
| Increase visibility of Environmental, Social and Governance (“ESG”) principles | We adopted a Health, Safety and Environment Policy and Human Rights Policy to formalize our approach and further our goals with respect to these matters, as described below. We also added an ESG section to our investor relations website to increase visibility of our ESG efforts. |
| Ensure the recovery of incentive compensation based on incorrect calculations or egregious behavior | We adopted a robust, Nasdaq-compliant clawback policy which applies not only to financial restatements, but also if a financial metric used to determine the vesting or payment of compensation was calculated incorrectly or if an executive engages in egregious conduct that is substantially detrimental to NTIC. |
| Align the interests of executive officers and directors with those of stockholders | We adopted stock ownership guidelines applicable to our executive officers and directors to ensure that their interests would be closely aligned with those of our stockholders. |
BOARD OF DIRECTORS COMPOSITION AND DIVERSITY
The Board of Directors understands the importance of adding diverse, experienced talent to the Board of Directors in order to establish an array of experience and strategic views. The Nominating and Corporate Governance Committee is committed to refreshment efforts to ensure that the composition of the Board of Directors and each of its committees encompasses a wide range of perspectives and knowledge.
All of our Board nominees collectively bring significant diversity to the Board. Each nominee is a strategic thinker and has varying, specialized experience in the areas relevant to NTIC and its businesses. Moreover, their collective experience covers a wide range of geographies and industries, and roles in academia, corporate governance and government. Our eight current directors range in age from 58 to 77; three of the eight directors are women; two are of Asian descent; one is of African descent; one is a citizen of Brazil, one is a citizen of the Republic of Korea and one is a citizen of Germany.
BOARD OF DIRECTORS NOMINEES
Below are the director nominees for election by stockholders at the 2026 Annual Meeting of Stockholders for a one-year term.
| Director | Age | Serving Since | Independent |
|---|---|---|---|
| Nancy E. Calderon | 66 | 2019 | Yes |
| Sarah E. Kemp | 59 | 2019 | Yes |
| Sunggyu Lee, Ph.D. | 73 | 2004 | Yes |
| G. Patrick Lynch | 58 | 2004 | No |
| Ramani Narayan, Ph.D. | 76 | 2004 | No |
| Richard J. Nigon | 77 | 2010 | Yes |
| Cristina Pinho | 68 | 2023 | Yes |
| Konstantin von Falkenhausen | 58 | 2012 | Yes |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.