STANDEX INTERNATIONAL CORPDE
For the period ended Oct 22, 2024. Filed Sep 6, 2024.
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Oct 22, 2024 · Filed Sep 6, 2024
Contents
Status of Long-Term Incentive Plan Programs
| Performance Period and Measure · Performance Levels · Weighted Achievement · Status & Commentary | ||
|---|---|---|
| FY 2022-2024 · ►Results were certified in August 2024. | ||
| Modified ROIC | 152.4 % | ►The Modified ROIC, as calculated using a 5-point average from Q4 FY 2023 to Q4 FY 2024, was greater than target level, but less than the superior level. ►Company’s 3-year TSR ranked in the 74th percentile amongst the peer group of S&P 600 Capital Goods companies, so there was no TSR modifier. ►Threshold, target and superior levels were adjusted downwards by 30 bps to account for the impact of the Procon divestiture in Q3 of FY 2023, and the calculation of actual results excluded the Sanyu and SEPL acquisitions in Q4 of FY 2024. ►Final payout was certified at 152.4% based on Company performance, and individual share payouts are in the table below. |
FY 2023-2025 awards will be certified in August 2025, while FY 2024-2026 awards will be certified in August 2026.
As certified by the Compensation Committee, the FY 2022-2024 performance period ended on June 30, 2024 and the PSUs granted on August 23, 2021 vested at 152.4%, for the following share payouts and value as of the date of certification. Mr. Arets was not employed with the Company on the grant date, so he does not have any shares vesting.
| Name | Shares granted on August 23, 2021 (#) | Shares Vesting (#) | Value of Shares Vesting ($) 1 |
|---|---|---|---|
| David Dunbar | 14,283 | 21,767 | 3,840,352 |
| Ademir Sarcevic | 3,384 | 5,157 | 909,850 |
| Alan Glass | 1,886 | 2,874 | 507,060 |
| Annemarie Bell | 828 | 1,261 | 222,478 |
| Max Arets | - | - | - |
| 1 | Based on the stock price on the date of vesting, August 23, 2024 ($176.43). |
2024 Proxy Statement****59
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