STANDEX INTERNATIONAL CORP/DE/

See notes to consolidated financial statements.

Standex International Corporation and Subsidiaries

Consolidated Statements of Operations

See notes to consolidated financial statements.

Standex International Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income

See notes to consolidated financial statements.

Consolidated Statements of Redeemable Noncontrolling interest and Stockholders' Equity

See notes to consolidated financial statements.

See notes to consolidated financial statements.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. Summary of Accounting Policies

Basis of Presentation and Consolidation

As of* June 30, 2026*, Standex International Corporation (“Standex” or the “Company”) is a diversified industrial manufacturer infour broad business segments: Electronics, Aerospace & Defense (A&D), Scientific, and Engraving & Hydraulics with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, India, and China. The accompanying consolidated financial statements include the accounts of Standex International Corporation and its subsidiaries and are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). During thethird quarter of fiscal2026, the Company sold its Federal Industries display merchandising business. This business was previously a part of the Specialty Solutions segment. Following this divestiture, the Company realigned its businesses and made organizational changes to better allocate resources to support changes to its business strategy. This resulted in combining the Hydraulics business which was previously a part of the Specialty Solutions segment with the Engraving business to form the Engraving & Hydraulics segment. Additionally, the Engineering Technologies segment was re-named as the A&D segment to better reflect the markets served by this segment. Following these changes, the Company reviewed the quantitative and qualitative characteristics of its remaining businesses and determined that it hasfour reportable segments as noted in Note17. Accordingly, all periods presented have been revised to reflect the new reportable segments. The Other segment included in Note17 includes the results of the Company's divested Federal Industries display merchandising business.

All intercompany accounts and transactions have been eliminated in consolidation. Noncontrolling interests in subsidiaries related to Standex’s ownership interests of less than100% are reported as Noncontrolling interests in the consolidated balance sheets. The results of noncontrolling ownership interests held by Standex are reported as Net income attributable to redeemable noncontrolling interests in the consolidated statements of operations.

The Company considers events or transactions that occur after the balance sheet date, but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. We evaluated subsequent events through the date and time our consolidated financial statements were issued.

Accounting Estimates

The preparation of consolidated financial statements in conformity with GAAP requires the use of estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities at the date of the financial statements and for the period then ended. Estimates are based on historical experience, actuarial estimates, current conditions and various other assumptions that are believed to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities when they arenot readily apparent from other sources. These estimates assist in the identification and assessment of the accounting treatment necessary with respect to commitments and contingencies. Actual results* maydiffer from these estimates under different assumptions or conditions. The estimates and assumptions used in the preparation of the consolidated financial statements have considered the implications on the Company as a result of ongoing global events and related economic impacts. As a result, there is heightened volatility and uncertainty around supply chain performance, labor availability, and customer demand. However, the magnitude of such impact on the Company’s business and its duration is uncertain. The Company isnot* aware of any specific event or circumstance that would require an update to its estimates or adjustments to the carrying value of its assets and liabilities as of* June 30, 2026* and the issuance date of this Annual Report on Form10-K.

Cash and Cash Equivalents

Cash and cash equivalents include highly liquid investments purchased with a maturity ofthree months or less. These investments are carried at cost, which approximates fair value. At* June 30, 2026* and2025, the Company’s cash was comprised solely of cash on deposit.

Trading Securities

The Company purchases investments for its non-qualified defined contribution plan for employees who exceed certain thresholds under our traditional401(k) plan. These investments are classified as trading and reported at fair value. The investments, generally consisting of mutual funds, are included in other non-current assets and amounted to $6.7 million at* June 30, 2026* and $5.0 million at* June 30, 2025*. Gains and losses on these investments are recorded as other non-operating (income) expense, net in the Consolidated Statements of Operations.

Accounts Receivable Allowances

The Company has provided an allowance for credit losses. All trade account receivables are reported net of allowances for expected credit losses. The allowances for expected credit losses represent management’s best estimate of the credit losses expected from our trade account receivables over the life of the underlying assets. Assets with similar risk characteristics are pooled together for determination of their current expected credit losses. The Company regularly performs detailed reviews of its pooled assets to evaluate the collectability of receivables based on a combination of past, current, and future financial and qualitative factors that* may*affect customers’ ability to pay. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations, a specific reserve is recorded against amounts due to reduce the recognized receivable to the amount reasonably expected to be collected.

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The changes in the allowances for credit losses accounts during2026,2025, and2024 were as follows (in thousands):

Inventories

Inventories are stated at the lower of (first-in,first-out) cost or market. Inventory quantities on hand are reviewed regularly, and write downs are made for obsolete, slow moving, and non-saleable inventory, based primarily on management’s forecast of customer demand for those products in inventory.

Long-Lived Assets

Long-lived assets that are used in operations, excluding goodwill and identifiable intangible assets, are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount* may**not* be recoverable. Recognition and measurement of a potential impairment loss is performed on assets grouped with other assets and liabilities at the lowest level where identifiable cash flows are largely independent of the cash flows of other assets and liabilities. An impairment loss is the amount by which the carrying amount of a long-lived asset (asset group) exceeds its estimated fair value. Fair value is determined based on discounted cash flows or appraised values, depending upon the nature of the assets.

Property, Plant and Equipment

Property, plant and equipment are reported at cost less accumulated depreciation. Depreciation is recorded on assets over their estimated useful lives, generally using the straight-line method. Lives for property, plant and equipment are as follows:

Routine maintenance costs are expensed as incurred. Major improvements, including those made to leased facilities, are capitalized.

Leases

At the inception of an arrangement, we determine whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Leases with a term greater thanone year are recognized on the balance sheet as right-of-use assets and short-term and long-term lease liabilities, as applicable. We donot have material financing leases.

Operating lease liabilities and their corresponding right-of-use assets are initially recorded based on the present value of lease payments over the expected remaining lease term. The interest rate implicit in lease contracts is typicallynot readily determinable. As a result, we utilize our incremental borrowing rate to discount lease payments, which reflects the fixed rate at which we could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. To estimate our incremental borrowing rate, a credit rating applicable to the Company is estimated using a synthetic credit rating analysis since we donot currently have a rating agency-based credit rating.

We have electednot to recognize leases with an original term ofone year or less on the balance sheet. We typically only include an initial lease term in our assessment of a lease arrangement. Options to renew a lease arenot included in the Company’s assessment unless there is reasonable certainty that the Company will renew.

Goodwill and Identifiable Intangible Assets

All business combinations are accounted for using the acquisition method. Goodwill and identifiable intangible assets with indefinite lives arenot amortized, but are reviewed annually for impairment or more frequently if impairment indicators arise. Definite lived identifiable intangible assets are amortized over the following useful lives:

Trade names are considered to have an indefinite life and arenot amortized.

See discussion of the Company’s assessment of impairment in Note6 – Goodwill and Note7 – Intangible Assets.

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Fair Value of Financial Instruments

The financial instruments, shown below, are presented at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. When observable prices or inputs arenot available, valuation models* may*be applied.

Assets and liabilities recorded at fair value in the consolidated balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities and the methodologies used in valuation are as follows:

Level1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities. The Company’s deferred compensation plan assets consist of shares in various mutual funds (for the deferred compensation plan, investments are participant-directed) which invest in a broad portfolio of debt and equity securities. These assets are valued based on publicly quoted market prices for the funds’ shares as of the balance sheet dates. For pension assets (see Note16 – Employee Benefit Plans), securities are valued based on quoted market prices for securities held directly by the trust.

Level2 – Inputs, other than quoted prices in an active market, that are observable either directly or indirectly through correlation with market data. For foreign exchange forward contracts and interest rate swaps, the Company values the instruments based on the market price of instruments with similar terms, which are based on spot and forward rates as of the balance sheet dates. For pension assets held in commingled funds (see Note16 – Employee Benefit Plans), the Company values investments based on the net asset value of the funds, which are derived from the quoted market prices of the underlying fund holdings. The Company has considered the creditworthiness of counterparties in valuing all assets and liabilities.

Level3 – Unobservable inputs based upon the Company’s best estimate of what market participants would use in pricing the asset or liability.

The Company didnot have any transfers of assets and liabilities among levels of the fair value measurement hierarchy during the years ended* June 30,*2026 or2025. The Company’s policy is to recognize transfers between levels as of the date they occur.

Cash and cash equivalents, accounts receivable, accounts payable and debt are carried at cost, which approximates fair value.

The fair values of our financial instruments at* June 30,*2026 and2025 were (in thousands):

The Company had financial assets based upon Level3 inputs, which represent investments in a privately held company.

(a) The Company invested $2.0 million for equity securities of a company whose securities arenot publicly traded and where fair value isnot readily available. This was recorded as an investment within other non-current assets in the consolidated balance sheets to reflect the initial fair value of the stock acquired. This investment is recorded at cost minus any impairment adjusted for observable price changes. The Company concluded it doesnot have a significant ownership percentage or influence. The Company monitors this investment to evaluate whether any increase or decline in the value has occurred, based on the implied value of recent company financings, public market prices of comparable companies and general market conditions.

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(b) In thethird quarter of fiscal year2023, the Company purchased $2.7 million of debt securities from the same privately held company. The available for sale asset was recorded as a current asset in the prepaid expenses and other current assets line of the consolidated balance sheet to reflect the initial fair value of the instrument acquired. In* April 2026,** these debt securities were converted into additional equity shares of the same privately held company andno* gain on loss was recognized.

(c) The Company’s financial liabilities based upon Level3 inputs comprise of contingent consideration arrangement relating to its acquisition of SEPL in the event that certain financial targets are achieved during thetwo years following its acquisition in thefourth quarter of fiscal year2024. The Company determined the fair value of the liabilities for the contingent consideration based on an evaluation of the probability and amount of any deferred compensation that has been earned to date. This fair value measurement is based on significant inputsnot observable in the market and thus represents a Level3 measurement within the fair value hierarchy. The fair value of the contingent consideration liability associated with future payments was based on several factors, the most significant of which are typically the financial performance of the acquired business and the risk-adjusted discount rate for the fair value measurement. During the year ended* June 30, 2026*, the reduction in the fair value of the contingent consideration liability was a result of the Company’s payment of $0.7 million pursuant to the SEPL agreement.

Concentration of Credit Risk

The Company is subject to credit risk through trade receivables. Concentration of risk with respect to trade receivables is minimized because of the diversification of our operations, as well as our large customer base and our geographical dispersion.No individual customer accounts for more than 5% of revenues or accounts receivable in the periods presented.

Revenue Recognition

In general, the Company recognizes revenue at the point in time control transfers to its customer based on predetermined shipping terms. Revenue is recognized over time under certain long-term contracts within the A&D and Engraving & Hydraulics segments for highly customized customer products that haveno alternative use and in which the contract specifies the Company has a right to payment for its costs, plus a reasonable margin. For products manufactured over time, the transfer of control is measured pro rata, based upon current estimates of costs to complete such contracts. Losses on contracts are fully recognized in the period in which the losses become determinable. Revisions in profit estimates are reflected on a cumulative basis in the period in which the basis for such revision becomes known.

Cost of Goods Sold and Selling, General and Administrative Expenses

The Company includes expenses in either cost of goods sold or selling, general and administrative categories based upon the natural classification of the expenses. Cost of goods sold includes expenses associated with the acquisition, inspection, manufacturing and receiving of materials for use in the manufacturing process. These costs include inbound freight charges, purchasing and receiving costs, inspection costs, internal transfer costs as well as depreciation, amortization, wages, benefits and other costs that are incurred directly or indirectly to support the manufacturing process. Selling, general and administrative includes expenses associated with the distribution of our products, sales effort, administration costs and other costs that arenot incurred to support the manufacturing process. The Company records distribution costs associated with the sale of inventory as a component of selling, general and administrative expenses in the Consolidated Statements of Operations. These expenses include warehousing costs, outbound freight charges and costs associated with salaried distribution personnel. Our gross profit margins* may**not* be comparable to those of other entities due to different classifications of costs and expenses.

Our total advertising expenses, which are classified under selling, general, and administrative expenses are primarily related to trade shows, and totaled $2.2 million, $2.6 million, and $2.4 million for the years ended* June 30,*2026,2025, and2024, respectively.

Research and Development

Research and development expenditures are expensed as incurred. Total research and development costs, which are classified under selling, general, and administrative expenses, were $24.2 million, $21.2 million, and $20.5 million for the years ended* June**30,* 2026,2025, and2024, respectively.

Warranties

The expected cost associated with warranty obligations on our products is recorded when the revenue is recognized. The Company’s estimate of warranty cost is based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Since warranty estimates are forecasts based on the best available information, claims costs* may*differ from amounts provided. Adjustments to initial obligations for warranties are made as changes in the obligations become reasonably estimable.

The changes in the continuing operations warranty reserve, which are recorded as accrued liabilities, during2026,2025, and2024 were as follows (in thousands):

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Stock-Based Compensation Plans

Restricted stock awards, including performance-based awards, generally vest over terms fromone tothree years. Compensation expense associated with these awards is recorded based on their grant-date fair value and is generally recognized on a straight-line basis over the vesting period. Compensation cost for an award with a performance condition is based on the probable outcome of that performance condition. The stated vesting period is considered non-substantive for retirement eligible participants. Accordingly, the Company recognizes any remaining unrecognized compensation expense upon participant reaching retirement eligibility.

Stockholders' Equity

The Company has authorized a single class of equity, common stock, which has a par value of $1.50 per share with 60,000,000 shares authorized,27,984,278 shares issued, and 12,054,110,11,992,116 and 11,761,700 shares issued and outstanding as of* June 30, 2026*,2025 and2024 respectively. Common stockholders are entitled to vote in corporate governance matters, as well as participate in dividends, if declared by our board of directors. From time to time, the Company* mayrepurchase shares of common stock, which are held in treasury stock and reserved for future issuance. As of June 30, 2026*,2025 and2024 there were 15,930,168,15,992,162 and 16,222,578 shares of treasury stock, respectively. The Company uses shares acquired through treasury stock repurchases for the issuance of shares of common stock for the settlement of awards under its stock-based compensation plans, with the net effect of these transactions accounting for the change in common stock outstanding in each of the years ended* June 30, 2026*,2025 and2024. During the years ended* June 30, 2026*,2025 and2024 the Company acquired 20,292,31,308 and 206,060 shares of treasury stock, respectively and issued 82,286,109,425 and 222,769 shares for settlement of stock-based compensation awards (refer to Note13), respectively. During the year ended* June 30, 2025*, the Company issued 152,299 shares of Standex common stock in connection with a business acquisition (refer to Note2).

Foreign Currency Translation

The functional currency of our non-U.S. operations is the local currency. Assets and liabilities of non-U.S. operations are translated into U.S. Dollars on a monthly basis using period-end exchange rates. Revenues and expenses of these operations are translated using monthly average exchange rates. The resulting translation adjustment is reported as a component of comprehensive income (loss) in the consolidated statements of redeemable noncontrolling interest and stockholders’ equity and compr ehensive income. Gains and losses from foreign currency transactions are included in results of operations and werenot material for any period presented.

Derivative Instruments and Hedging Activities

The Company recognizes all derivatives on its balance sheet at fair value.

Forward foreign currency exchange contracts are periodically used to limit the impact of currency fluctuations on certain anticipated foreign cash flows, such as foreign purchases of materials and loan payments from subsidiaries. The Company enters into such contracts for hedging purposes only. The Company has designated certain of these currency contracts as hedges, and changes in the fair value of these contracts are recognized in other comprehensive income until the hedged items are recognized in earnings. Hedge ineffectiveness, if any, associated with these contracts will be reported in net income.

The Company also uses interest rate swaps to manage exposure to interest rates on the Company’s variable rate indebtedness. The Company values the swaps based on contract prices in the derivatives market for similar instruments. The Company has designated its interest rate swap agreements, including any that* may*be forward-dated, as cash flow hedges, and changes in the fair value of the swaps are recognized in other comprehensive income until the hedged items are recognized in earnings. Hedge ineffectiveness, if any, associated with the swaps will be reported by the Company in interest expense.

The Company doesnot hold or issue derivative instruments for trading purposes.

Income Taxes

Income tax expense includes U.S., state, local and international income taxes. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. We adjust deferred income taxes for enacted changes in tax rates and tax laws. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely thannot be realized. The Company recognizes the tax benefit of uncertain income tax positions only if those positions are more likely thannot to be sustained upon examination. Judgment is required in evaluating tax positions and determining income tax provisions. Recognized income tax positions are measured at the largest amount that has a greater than50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits in income tax expense. See Note11, Income Taxes, in the accompanying notes to the consolidated financial statements for further discussion on income taxes.

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Earnings Per Share

Both basic and diluted income is the same for computing earnings per share. There wereno outstanding instruments that had an anti-dilutive effect at* June 30,*2026,2025, and2024.

Performance stock units of 22,641,45,953 and 57,830 for the year ended* June 30,*2026,2025 and2024 respectively, are excluded from the diluted earnings per share calculation as the performance criteria havenot been met.

Recently Issued Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that we adopt as of the specified effective date. Unless otherwise discussed below, the Company doesnot believe that the adoption of recently issued standards had or* mayhave a material impact on its consolidated financial statements or disclosures. The Company adopted ASC2023*-07 in fiscal2025. See Note17. Industry Segment Information.

In* December 2023,the FASB issuedASU2023-09, Income Taxes (Topic740) - Improvements to Income Tax Disclosures.* This ASU requires enhanced disclosures of income taxes paid, adds disaggregation of continuing operations before income taxes between foreign and domestic earnings and defines specific categories for the reconciliation of jurisdictional tax rate to effective tax rate. This ASU is effective for fiscal years beginning after* December 15, 2024and can be applied on a prospective basis. The Company adopted ASU2023*-09 for the year ended* June 30, 2026,and applied the new disclosure requirements prospectively to the current annual period. Prior period disclosures havenot* been adjusted to reflect the new disclosure requirements. See Note11, Income Taxes, in the accompanying notes to the consolidated financial statements for further detail.

In* July 2025,the FASB issuedASU2025-05, Measurement of Credit Losses for Accounts Receivable and Contract Assets*, which provides a practical expedient for measuring expected credit losses on current trade receivables and contract assets by assuming that current conditions remain unchanged over the life of the asset. The amendments are effective for annual and interim periods beginning after* December 15, 2025,*with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.

In* November 2024**,the FASB issued ASU2024-03, Income Statement - Reporting Comprehensive Income (Topic220): Expense Disaggregation Disclosures*. This ASU provides guidance to expand disclosures related to the disaggregation of income statement expenses. This ASU also requires, in the notes to the financial statements, disclosure of specified information about certain costs and expenses which includes purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. Additionally, in* January 2025,the FASB issued ASU2025-01 to clarify the effective date of ASU2024-03. ASU2025-01 is effective for fiscal years beginning after December 15, 2026,and interim periods within annual reporting periods beginning after December 15, 2027,with early adoption permitted. This ASU will be effective for the Company’s Form10*-K for fiscal2028 and Form10-Q filed thereafter. The Company is currently evaluating the impact this ASU* may*have on its financial statement disclosures.

In* November 2025**,the FASB issued ASU2025-09, Derivatives and Hedging (Topic815): Hedge Accounting Improvements. This ASU introducesfive* targeted improvements to better align hedge accounting with entities’ risk management activities. This ASU is effective for fiscal years beginning after* December 15, 2026,and interim periods within those annual reporting periods, with early adoption permitted. The amendments in this ASU are required to be applied on a prospective basis for all hedging relationships. The Company is currently evaluating the impact this ASU may*have on its financial statement disclosures.

In* September 2025**,the FASB issued ASU2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic350-40)*: Targeted Improvements to the Accounting for Internal-Use Software related to accounting for internal-use software costs. The amendments in this update improve the operability of the guidance by removing all references to software development project stages so that the guidance is neutral to different software development methods. This update is effective for annual periods beginning after** December 15, 2027,**including interim periods within those fiscal years, though early adoption is permitted. The Company is currently in the process of evaluating the effects of this pronouncement on its consolidated financial statements.

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In* December 2025**,the FASB issued ASUNo. 2025-11, Narrow-Scope Improvements (“ASU2025-11”). The guidance in ASU2025-11 amends ASC Topic270, Interim Reporting, to provide clarity on the current interim reporting requirements and to require entities to disclose events since the end of the last annual reporting period that have a material impact on the entity through the addition of the disclosure principle. The standard is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027,with early adoption permitted. Upon adoption, ASU2025-11 ** maybe applied prospectively or retrospectively. The Company is currently evaluating when it will adopt the ASU2025*-11 and the impact that the adoption** may**have on its consolidated financial statements, including related footnote disclosures.

2. Acquisitions

The Company’s recent acquisitions are strategically significant to the future growth prospects of the Company. At the time of each acquisition and as of* June 30, 2026*, the Company evaluated the significance of each acquisition on a standalone basis and in aggregate, considering both qualitative and quantitative factors.

McStarlite

On* February 5, 2025**,*the Company acquired 100% of the issued and outstanding shares of Basmat Inc., dba McStarlite, a privately held company, for $57.0 million, net of cash acquired. McStarlite is a leading provider of complex sheet metal aerospace components. It designs and manufactures cold deep draw and bulge-formed aviation components, including segmented and single piece lipskins, nozzles, complex sheet metal assemblies, and tooling to support production hardware. McStarlite's results are reported within the Company's A&D segment.

The purchase price was allocated to the net tangible and identifiable intangible assets acquired and liabilities assumed based on a valuation of their fair values on the closing date. Goodwill recorded from this transaction is attributable to McStarlite's technical and applications expertise, which is highly complementary to the Company's existing business.

Identifiable intangible assets of $24.5 million consist primarily of $19.7 million for customer relationships to be amortized over 12 years and $4.8 million for indefinite lived tradenames. The goodwill of $16.2 million created by the transaction isnot deductible for income tax purposes. The accounting for business combinations requires estimates and judgments regarding expectations for future cash flows of the acquired business, and the allocations of those cash flows to identifiable tangible and intangible assets, in determining the assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management's best estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques.

There wereno changes to the purchase price allocations of any other acquisitions during the year ended* June 30, 2026*.

Amran/Narayan Group

On* October 28, 2024 (*“Closing Date”), the Company acquired, in separate transactions,100% of the outstanding membership interest in Amran LLC (“Amran”), a privately-held company based in Houston, Texas, pursuant to a Securities Purchase Agreement (the “Amran Purchase Agreement”) and through its wholly owned subsidiary, Mold-Tech Singapore PTE LTD (“Mold-Tech Singapore”),90.1% of the capital stock of Narayan Powertech Private Limited (“Narayan”), a privately-held India-based company, pursuant to a Securities Purchase Agreement (the “Narayan Purchase Agreement”) (collectively the “Amran/Narayan Group”). With manufacturing locations in the United States and India, Amran/Narayan Group is a leading manufacturer of low voltage and medium voltage instrument transformers. Its custom product portfolio is specifically designed and developed in partnership with OEMs for their specific equipment related to electrical grid applications. This acquisition continues our portfolio strategy of focusing our higher-margin business segments in faster-growing markets. Amran/Narayan Group results are reported within the Company's Electronics segment.

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Total consideration for Amran aggregated to $179.7 million, consisting of $153.7 million in cash consideration and 152,299 shares of Standex common stock, issued out of the Company's treasury shares, with a fair value of $26.0 million. The fair value of Standex common stock issued as part of the consideration for Amran was determined on the basis of the closing market price of the Company's common shares on the Closing Date. The total consideration for the 90.1% interest in Narayan consisted of a cash payment of $261.9 million. The Company entered into a Shareholder Agreement that provides the Company with the right to purchase, and the noncontrolling interest holders with the right to sell, their remaining noncontrolling interest at a contractually defined redemption value. As the redemptions are contingently redeemable at the option of the noncontrolling interest shareholders, the Company classifies the redeemable noncontrolling interest in the mezzanine equity section on the consolidated balance sheets, which is presented above the equity section and below liabilities. The repurchase price of the redeemable noncontrolling interests is the greater of the share price paid for similar shares as part of the Narayan Acquisition or12 timestwelve months' trailing EBITDA. The redeemable noncontrolling interest represents the noncontrolling shareholder's interest. More specifically, the Shareholders’ Agreement provides the noncontrolling interest holders with the right (butnot an obligation) to transfer up to their remaining interest in Narayan for a period ofthree years ("Put Option Period") to Mold-Tech Singapore. Subsequent to the expiration of the Put Option Period, Mold-Tech Singapore will have the right (butnot an obligation) to acquire the remaining interest in Narayan for an additional three-year consecutive period. Please see Note21. Redeemable noncontrolling interest for subsequent accounting and purchase of noncontrolling interest by the Company.

The purchase price was allocated to the net tangible and identifiable intangible assets acquired and liabilities assumed and noncontrolling interest based on a valuation of their fair values on the Closing Date. Goodwill recorded from this transaction is attributable to Amran/Narayan Group’s technical and applications expertise, which is highly complementary to the Company's existing business.

Identifiable intangible assets of $136.0 million consist primarily of $28.7 million for indefinite lived tradenames and $107.3 million of customer relationships to be amortized over 12 years. Goodwill of $298.4 million was recognized. Goodwill related to the Amran (U.S.) acquisition is deductible for U.S. income tax purposes; the goodwill related to the Narayan (India) acquisition isnot deductible. The accounting for business combinations requires estimates and judgments regarding expectations for future cash flows of the acquired business, and the allocations of those cash flows to identifiable tangible and intangible assets, in determining the assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management's best estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. On the date of acquisition, the fair value of the noncontrolling interest in Narayan was determined based on the consideration expected to be transferred by the Company for its controlling ownership interest based on the Standex share price at the Closing Date.

The following table summarizes the final allocation of the aggregate total consideration for the Amran/Narayan Group to the estimated fair values of the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interest assumed (in thousands):

The following table reflects the unaudited pro forma operating results of the Company for the year ended* June 30, 2025* and2024, respectively, which give effect to the acquisition of the Amran/Narayan Group as if it had occurred effective* July 1, 2023.The pro forma results arenot* necessarily indicative of the operating results that would have occurred had the acquisition been effective as of the date indicated, nor are they intended to be indicative of results that* mayoccur in the future. The pro forma information doesnot* include the effects of any synergies related to the Amran/Narayan Group acquisition, transactions between the entities prior to acquisition, or the pre-acquisition impact of other businesses acquired by the Company during this period as they werenot material to the Company’s historical results of operations.

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Pro forma earnings during the periods presented were adjusted to include the following adjustments:

With respect to each of the McStarlite and Amran/Narayan Group acquisitions, the estimated fair values of the indefinite lived tradenames were determined based on an income approach using the relief from royalty method, which assumes that, in lieu of ownership, athird party would be willing to pay a royalty in order to exploit the related benefits of the tradenames assets. The cash flow projections the Company uses to estimate the fair value of the tradenames intangible assets involves several assumptions, including projected revenue growth, an estimated royalty rate, after-tax royalty savings expected from ownership of the tradenames, and a discount rate used to derive the estimated fair value of the tradenames. The estimated fair value of the customer relationships intangible assets were determined based on the income approach using the multi-period excess earnings method, which measures the economic benefit indirectly by calculating the income attributable to an asset after appropriate returns are paid to complementary assets used in conjunction with the subject asset to produce the earnings associated with the subject asset, commonly referred to as contributory asset charges. The fair value determination of the customer relationships intangible asset required us to make significant estimates and assumptions related to future cash flows and the selection of an appropriate discount rate to apply to future cash flows.

The Company incurred deal related costs of $14.2 million for the year ended* June 30, 2025*, which is reported separately in the consolidated statements of operations.

From the date of acquisition through* June 30, 2025*, the Amran/Narayan Group contributed $84.4 million of net sales and $13.7 million of net income.

Transactions with Related Parties of Amran/Narayan Group

The Amran/Narayan Group has certain transactions with parties affiliated with current and former shareholders of the Amran/Narayan Group, including the current President of the Amran/Narayan Group entities in India. The transactions with these parties continue and are summarized as follows:

At* June 30, 2026* and2025, $0.3 million and $0.4 million, respectively, is due to the above related parties which is included in accounts payable in the consolidated balance sheets. During thetwelve months ended* June 30, 2026*, payments for inventory purchases and rental payments were $2.0 million and $0.3 million, respectively. During thetwelve months ended* June 30,*2025, payments for inventory purchases and rental payments were $2.5 million and $0.3 million, respectively.

During thetwelve months ended* June 30, 2026*,2025 and2024, sales made to related parties were $0.1 million.

Several of the Amran/Narayan Group leases in India are with Narayanshree Infrastructure LLP and directly with relatives of Narayan minority shareholders. Undiscounted cash flows expected to be paid for operating leases with related parties are as follows as of* June 30, 2026*:

Nascent Technology

On* November 18, 2024,the Company purchased all of the issued and outstanding equity interests of Nascent Technology Manufacturing, LLC ("Nascent") for $7.6 million, net of cash acquired. Its results are reported in the Electronics segment. The goodwill of $6.5 million created by the transaction isnot* deductible for income tax purposes.

Custom Biogenic Systems

On* November 13, 2024,*the Company purchased all of the issued and outstanding equity interests of Custom Biogenic Systems for $4.7 million, net of cash acquired. Its results are reported within the Company's Scientific segment.

Deal Related Costs

Deal related costs include costs related to acquired businesses and other pending acquisitions, and divestitures. These costs consist of (i) deferred compensation arrangements and (ii) deal related professional service fees and expenses, including financial advisory, legal, accounting, and other outside services incurred in connection with integration and acquisition activities, and regulatory matters related to acquired and divested entities. These costs donot include purchase accounting expenses, which the Company defines as acquired backlog and the step-up of inventory to fair value, or the amortization of the acquired intangible assets.

Deal related costs were $4.1 million, $21.4 million and $2.6 million for fiscal years2026,2025 and2024, respectively.

3. REVENUE FROM CONTRACTS WITH CUSTOMERS

Most of the Company’s contracts have a single performance obligation which represents the product or service being sold to the customer. Some contracts include multiple performance obligations such as a product and the related installation and/or extended warranty. Additionally, most of the Company’s contracts offer assurance type warranties in connection with the sale of a product to customers. Assurance type warranties provide a customer with assurance that the product complies with agreed-upon specifications. Assurance type warranties donot represent a separate performance obligation.

In general, the Company recognizes revenue at the point in time control transfers to its customer based on predetermined shipping terms. Revenue is recognized over time under certain long-term contracts within the A&D and Engraving & Hydraulics segments for highly customized customer products that haveno alternative use and in which the contract specifies the Company has a right to payment for its costs, plus a reasonable margin. For products manufactured over time, the transfer of control is measured pro rata, based upon current estimates of costs to complete such contracts. Losses on contracts are fully recognized in the period in which the losses become determinable. Revisions in profit estimates are reflected on a cumulative basis in the period in which the basis for such revision becomes known.

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Disaggregation of Revenue from Contracts with Customers

The following table presents revenue from continuing operations disaggregated by product line and segment (in thousands):

The following table presents revenue from continuing operations disaggregated by geography based on company’s locations (in thousands):

(1) EMEA consists primarily of Europe, Middle East and S. Africa.

The following table presents revenue from continuing operations disaggregated by timing of recognition (in thousands):

Contract Balances

Contract assets represent sales recognized in excess of billings related to work completed butnot yet shipped for which revenue is recognized over time. Contract assets are recorded as prepaid expenses and other current assets. Contract liabilities are customer deposits for which revenue hasnot been recognized. Current contract liabilities are recorded as accrued liabilities.

The timing of revenue recognition, invoicing and cash collections results in billed receivables, contract assets and contract liabilities on the consolidated balance sheets.

When consideration is received from a customer prior to transferring goods or services to the customer under the terms of a contract, a contract liability is recorded. Contract liabilities are recognized as revenue after control of the goods and services are transferred to the customer and all revenue recognition criteria have been met.

The following table provides information about contract assets and liability balances (in thousands):

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The vast majority of our contracts are customer purchase orders that require us to transfer specified quantities of tangible products to our customers. These performance obligations are generally satisfied within a short period of time. We have elected the practical expedient in ASC Topic606 tonot disclose our remaining performance obligations as these obligations are generally less thanone year in duration. The Company’s accounts receivable balance as of* July 1, 2024*was $123.4 million.

We recognized the following revenue which was included in the contract liability beginning balances (in thousands):

4. Inventories

Inventories are comprised of (in thousands):

Distribution costs associated with the sale of inventory are recorded as a component of selling, general and administrative expenses and were $13.1 million, $11.5 million, and $10.8 million in2026,2025 and,2024, respectively.

5. Property, plant and equipment

Property, plant and equipment consist of the following (in thousands):

Depreciation expense totaled $20.3 million, $19.2 million, and $18.6 million, respectively, for the years ended* June 30,*2026,2025 and2024.

6. Goodwill

Goodwill and certain indefinite-lived intangible assets arenot amortized, but instead are tested for impairment at least annually and more frequently whenever events or changes in circumstances indicate that the fair value of the asset* maybe less than its carrying amount. The Company’s annual test for impairment is performed using a May**31st* measurement date.

The Company has identified four reporting units for impairment testing: Electronics, Aerospace & Defense, Scientific and Engraving & Hydraulics.

As quoted market prices arenot available for the Company’s reporting units, the fair value of the reporting units is determined using a discounted cash flow model (income approach). This method uses various assumptions that are specific to each individual reporting unit in order to determine the fair value. In addition, the Company compares the estimated aggregate fair value of its reporting units to its overall market capitalization.

While the Company believes that estimates of future cash flows are reasonable, changes in assumptions could significantly affect valuations and result in impairments in the future. The most significant assumption involved in the Company’s determination of fair value is the cash flow projections of each reporting unit. If the estimates of future cash flows for each reporting unit are insufficient to support the carrying value of the reporting units, the Company will reassess its conclusions related to fair value and the recoverability of goodwill.

The Company completed its annual impairment testing as of* May 31,in each of the lastthree* fiscal years and determined that the fair value of each of its reporting units substantially exceeded each unit’s respective carrying value, therefore,no impairment charges were recorded in connection with the testing and assessment.

Changes to goodwill by segment associated with continuing operations during the fiscal year is as follows (in thousands):

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7. Intangible Assets

Intangible assets consist of the following (in thousands):

Amortization expense from continuing operations totaled $17.7 million, $14.6 million, and $8.2 million, respectively, for the years ended* June 30,*2026,2025 and2024.

At* June 30,*2026, aggregate amortization expense is estimated to be (in thousands):

8. Debt

Long-term debt is comprised of the following at* June 30 (*in thousands):

The Company's long-term debt matures in* February 2028*.

Through thesecond quarter of fiscal year2025 the facility had a borrowing limit of $500 million, which can be increased by an amount of up to $250 million, in accordance with specified conditions contained in the agreement. The facility also includes a $10 million sublimit for swing line loans and a $35 million sublimit for letters of credit. During thesecond quarter of fiscal year2025, the Company entered into a $250 million 364-day term loan with existing lenders. Also during the period, the Company converted the364-day term loan into an exercise of the accordion feature under its existing facilities. In connection with the conversion of the loan, the Company entered into a Second Amendment to Third Amended and Restated Credit Agreement. This amendment expanded the total available credit under the Revolving Credit Agreement from $500 million to $825 million. Under the terms of the Credit Agreement, the Company pays interest on borrowed amounts based on a variable rate of interest and a credit spread based on quarterly reported leverage and a commitment fee on unused amounts under the facility. The amount of the commitment fee depends upon both the undrawn amount remaining available under the facility and the Company’s funded debt to EBITDA (as defined in the agreement) ratio at the last day of each quarter. As our funded debt to EBITDA ratio increases, the commitment fee increases.

Funds borrowed under the facility* maybe used for the repayment of debt, working capital, capital expenditures, acquisitions (so long as certain conditions, including a specified funded debt to EBITDA leverage ratio is maintained), and other general corporate purposes. As of June 30,2026 and2025, the Company had standby letters of credit outstanding of $3.1 million and $1.9 million, primarily for insurance purposes and had the ability to borrow $148.4 million and $207.7 million under the facility based on our current EBITDA. The facility contains customary representations, warranties and restrictive covenants, as well as specific financial covenants which the Company was compliant with as of June 30, 2026* and2025 The Company’s current financial covenants under the facility are as follows:

Interest Coverage Ratio - The Company is required to maintain a ratio of Earnings Before Interest and Taxes, as Adjusted (“Adjusted EBIT per the Credit Facility”), to interest expense for the trailingtwelve months of at least 2.75:1. Adjusted EBIT per the Credit Facility specifically excludes extraordinary and certain other defined items such as cash restructuring and deal related charges up to the lower of $20.0 million or 10% of EBITDA. The facility allows for unlimited non-cash charges including purchase accounting and goodwill adjustments. At* June 30,*2026 and2025, the Company’s Interest Coverage Ratio was 4.97:1 and 6.42:1, respectively.

Leverage Ratio- The Company’s ratio of funded debt to trailingtwelve month Adjusted EBITDA per the Credit Facility, calculated as Adjusted EBIT per the Credit Facility plus depreciation and amortization,* may**not* exceed 3.5:1. Under certain circumstances in connection with a Material Acquisition (as defined in the Facility), the Facility allows for the leverage ratio to go as high as 4.0:1 for afour-fiscal quarter period. At* June 30,*2026 and2025 the Company’s Leverage Ratio was 2.41:1 and 2.60:1. Our primary sources of cash for these requirements are cash flows from continuing operations and borrowings under the facility.

At* June 30,*2026 and2025, the effective rate of interest on the outstanding borrowings was 5.71% and 6.38%

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9. Accrued LIABILITIES

Accrued liabilities recorded in our consolidated balance sheets at* June 30,*2026 and2025 consist of the following (in thousands):

10. Derivative Financial Instruments

Interest Rate Swaps

From time to time as dictated by market opportunities, the Company enters into interest rate swap agreements designed to manage exposure to interest rates on the Company’s variable rate indebtedness. The Company recognizes all derivatives on its consolidated balance sheets at fair value. The Company designates its interest rate swap agreements, including those that** may**be forward-dated, as cash flow hedges, and changes in the fair value of the swaps are recognized in accumulated other comprehensive income until the hedged items are recognized in earnings. Hedge ineffectiveness, if any, associated with the swaps is reported in earnings within interest expense.

The Company’s effective swap agreements convert the base borrowing rate on $225 million of debt due under its Facility from a variable rate equal to1 month Secured Overnight Financing Rate (SOFR) to a weighted average fixed rate of 3.48% at* June 30, 2026*. The fair value of the swaps, recognized in accumulated other comprehensive loss, is as follows (in thousands, except percentages):

The Company reportedno losses for the years ended* June 30,2026,2025, and2024, as a result of hedge ineffectiveness. Future changes in these swap arrangements, including termination of the agreements, may*result in a reclassification of any gain or loss reported in accumulated other comprehensive income (loss) into earnings as an adjustment to interest expense. Accumulated other comprehensive income (loss) related to these instruments is being amortized into interest expense concurrent with the hedged exposure.

Foreign Exchange Contracts

Forward foreign currency exchange contracts are used to limit the impact of currency fluctuations on certain anticipated foreign cash flows, such as sales to foreign customers and loan payments between subsidiaries. The Company enters into such contracts for hedging purposes only. The Company has designated certain of these currency contracts as hedges, and changes in the fair value of these contracts are recognized in other comprehensive income until the hedged items are recognized in earnings. Hedge ineffectiveness, if any, associated with these contracts will be reported in net income. At* June 30,*2026 and2025, the Company had outstanding forward contracts related to hedges of intercompany loans that had an immaterial amount of net unrealized loss. The notional amounts of these instruments, by currency in thousands, are as follows:

The table below presents the fair value of derivative financial instruments as well as their classification on the balance sheet at* June 30 (*in thousands):

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The table below presents the amount of gain (loss) recognized in comprehensive income on our derivative financial instruments (effective portion) designated as hedging instruments and their classification within comprehensive income for the periods ended (in thousands):

The table below presents the amount reclassified from accumulated other comprehensive income (loss) to net income for the periods ended (in thousands):

11. Income Taxes

The components of income from continuing operations before income taxes are as follows (in thousands):

The Company utilizes the asset and liability method of accounting for income taxes. Deferred income taxes are determined based on the estimated future tax effects of differences between the financial and tax bases of assets and liabilities given the provisions of the enacted tax laws. The components of the provision for income taxes on continuing operations (in thousands) were as shown below:

Income tax payments (net of refunds received):

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The differences between income taxes computed at the United States statutory rate and the provision for income taxes are summarized as follows for the fiscal year2026 (in thousands):

(a) State taxes in California, Massachusetts, Michigan and Pennsylvania made up the majority (greater than50 percent) of the tax effect in this category.

The differences between income taxes computed at the United States statutory rate and the provision for income taxes are summarized as follows for the fiscal years2025 and2024 (in thousands):

Changes in the effective tax rates from period to period* maybe significant as they depend on many factors including, butnot* limited to, size of the Company’s income or loss and anyone-time activities occurring during the period.

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Significant components of the Company’s deferred income taxes are as follows (in thousands):

The Company estimates the degree to which deferred tax assets, including net operating loss and credit carry forwards will result in a benefit based on expected profitability by tax jurisdiction and provides a valuation allowance for tax assets and loss carry forwards that it believes will more likely thannot go unrealized. The valuation allowance at* June 30,2026 applies to state net operating loss, foreign net operating loss, branch basket foreign tax credit carryforward and state R&D credit carryforwards, which management has concluded that it is more likely thannot that these tax benefits willnot be realized. The $3.0 million decrease in the valuation allowance at June 30, 2026was primarily driven by the release of the valuation allowance on Federal capital loss carryforwards as a result of the capital gain recognized on the sale of Federal Industries. The $0.8 million decrease in the valuation allowance at June 30, 2025was primarily driven by current year activity in state and foreign jurisdictions. The $2.8 million increase in the valuation allowance at June 30, 2024*was primarily driven by the establishment of a valuation allowance on branch basket foreign tax credit carryforwards and current year activity in state and foreign jurisdictions.

As of* June 30, 2026,the Company had gross state net operating loss ("NOL") and credit carry forwards of approximately $14.7 million and $6.0 million, respectively, which maybe available to offset future state income tax liabilities and expire at various dates from2024* through2046. In addition, the Company had gross federal NOL carry forwards of approximately $2.7 million and gross foreign NOL carry forwards of approximately $14.8 million, all of which carry forward indefinitely. The Company also had federal credit carryforwards of approximately $5.1 million which expire at various dates from2027 through2046.

Under ASU2016-09, Improvements to Employee Share-Based Payment Accounting, all excess tax benefits and tax deficiencies are recognized as income tax expense or benefit in the statement of operations. Accordingly, we recorded an income tax benefit in the consolidated statement of operation of $1.1 million during the fiscal year ended* June 30, 2026,$0.9 million during the fiscal year ended June 30, 2025,and $3.9 million during the fiscal year ended June 30, 2024,*for the windfall of tax benefits related to equity compensation.

U.S. tax law allows a100% dividend received deduction for foreign dividends and the Company has begun to bring back cash from foreign subsidiaries. However, the permanent reinvestment assertion must still be assessed and made regarding potential liabilities for foreign withholding taxes. As of* June 30, 2026,the Company maintained the assessment that previously undistributed earnings of certain foreign subsidiariesno* longer meet the requirements for indefinite reinvestment under applicable accounting guidance. Therefore, the Company recognized deferred tax liabilities of approximately $2.2 million that relate to withholding taxes on the current earnings of various foreign subsidiaries. It is expected that deferred tax liabilities will continue to be recorded on current earnings in future periods from these subsidiaries. The Company maintains the permanent reinvestment assertion on earnings in certain foreign jurisdictions. It isnot practicable to estimate the amount of tax that might be payable on the remaining undistributed earnings.

The total provision (benefit) for income taxes included in the consolidated financial statements was as follows (in thousands):

The changes in the amount of gross unrecognized tax benefits were as follows (in thousands):

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At* June 30, 2026,we had $2.2 million of non-current liabilities, included in accrued pension and other non-current liabilities on the consolidated balance sheet for uncertain tax positions. We arenot* able to provide a reasonable estimate of the timing of future payments related to these obligations. The Company increased its uncertain tax position during the year due to federal R&D tax credit exposures. The Company decreased its uncertain tax position during the year due to the statute of limitations lapsing on federal R&D tax credits.

If the unrecognized tax benefits in the table above were recognized in a future period, $2.2 million of the unrecognized tax benefit would impact the Company’s effective tax rate.

Within the nexttwelve months, the statute of limitations will close in various U.S., state and non-U.S. jurisdictions. The following tax years, in the major tax jurisdictions noted, are open for assessment or refund:

The Company’s policy is to include interest expense and penalties related to unrecognized tax benefits within the provision for income taxes on the consolidated statements of operations.

On* July 4, 2025,the U.S. government enacted The One Big Beautiful Bill Act of2025* (“OBBBA”) which includes, among other provisions, changes to the U.S. corporate income tax system including the allowance of immediate expensing of qualifying research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act. The OBBBA didnot have a material impact on the Company’s financial statements for fiscal year2026.

The Organization for Economic Co-operation and Development (OECD) and theG20 Inclusive Framework on Base Erosion and Profit Shifting (the "Inclusive Framework") have put forth Pillar Two proposals that ensure a minimal level of taxation. Several countries in which the Company operates, including several European Union member states, have adopted domestic legislation to implement the Inclusive Framework's global corporate minimum tax rate offifteen percent. This legislation became effective for the Company beginning* June 1, 2024.Based on the Company's analysis of Pillar Two provisions, these tax law changes didnot* have a material impact on the Company's financial statements for fiscal year2026. On* January 5, 2026,the OECD Inclusive Framework members approved changes to the model rules, including the introduction of a “side by side” rule which would exempt U.S.-parented companies from certain aspects of the global minimum tax regime. The updated model rules will need to be incorporated into local tax legislation to be effective. We donot* expect the new rules to have a material impact on our consolidated financial statements.

12. CONTINGENCIES

From time to time, the Company is subject to various claims and legal proceedings, including claims related to environmental remediation, either asserted or unasserted, that arise in the ordinary course of business. While the outcome of these proceedings and claims cannot be predicted with certainty, the Company’s management doesnot believe that the outcome of any of the currently existing legal matters will have a material impact on the Company’s consolidated financial position, results of operations or cash flow. The Company accrues for losses related to a claim or litigation when the Company’s management considers a potential loss probable and can reasonably estimate such potential loss.

13. stock-based compensation and purchase plans

Stock-Based Compensation Plans

Under incentive compensation plans, the Company is authorized to make grants of stock options, restricted stock and performance share units to provide equity incentive compensation to key employees and directors. The stock award program offers employees and directors the opportunity to earn shares of our stock over time, rather than options that give the employees and directors the right to purchase stock at a set price. The Company has stock plans for directors, officers and certain key employees. The Company uses shares acquired through treasury stock repurchases for the issuance of shares of common stock for the settlement of awards under its stock-based compensation plans.

Total compensation cost recognized in the consolidated statement of operations for equity based compensation awards was $8.8 million, $8.7 million, and $9.8 million for the years ended* June 30,2026,2025, and2024, respectively, primarily within Selling, General, and Administrative Expenses. The total income tax benefit recognized in the consolidated statement of operations for equity-based compensation plans was $1.0 million, $1.4 million, and $2.2 million for the years ended June 30,*2026,2025 and2024, respectively.

There were 604,342 shares of common stock reserved for issuance under various compensation plans at* June 30,*2026.

Restricted Stock Awards

The Company* mayaward shares of restricted stock to eligible employees and non-employee directors of the Company atno* cost, giving them, in most instances, all of the rights of stockholders, except that they* may**not* sell, assign, pledge or otherwise encumber such shares and rights during the restriction period. Such shares and rights are subject to forfeiture if certain employment conditions arenot met. During the restriction period, recipients of the shares are entitled to dividend equivalents on such shares, providing that such shares arenot forfeited. Dividends are accumulated and paid out at the end of the restriction period. Restrictions on non-vested stock awards generally lapse between fiscal year2027 and fiscal year2029. Compensation expense related to stock awards recognized was $6.4 million, $5.2 million, and $6.0 million, respectively, for fiscal years ended* June 30,*2026,2025, and2024.

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A summary of restricted stock awards activity is as follows:

Restricted stock awards granted during fiscal years2025 and2024 had a weighted average grant date fair value of $177.17 and $151.99, respectively. The grant date fair value of restricted stock awards is determined based on the closing price of the Company’s common stock on the date of grant. The fair value of awards vested during fiscal years2026,2025 and2024 was $9.7 million, $6.0 million and $9.0 million, respectively.

As of* June 30,*2026, there was $3.9 million of unrecognized compensation costs related to awards expected to be recognized over a weighted-average period of 1.5 years.

Executive Compensation Program

The Company operates a compensation program for key employees. The plan contains both an annual component as well as a long-term component. Under the annual component, participants* mayelect to defer up to 50% of their annual incentive compensation in restricted stock which is purchased at a 25% discount to the market. Additionally, non-employee directors of the Company maydefer a portion of their director’s fees in restricted stock units which is purchased at a 25% discount to the market. During the restriction period, recipients of the shares are entitled to dividend equivalents on such units, providing that such shares arenot* forfeited.

Dividend equivalents are accumulated and paid out at the end of the restriction period. The restrictions on the units expire after three years. Restrictions on non-vested annual component awards generally lapse between fiscal year2027 and fiscal year2029. The compensation expense associated with this incentive program is charged to income over the restriction period. The Company recorded compensation expense related to this program of $0.4 million, $1.6 million, and $0.9 million for the years ended* June**30,* 2026,2025 and2024, respectively.

As of* June 30,*2026, there was $0.1 million of unrecognized compensation costs related to awards expected to be recognized over a weighted-average period of 1.8 years.

The fair value of the awards under the annual component of this incentive program is measured using the Black-Scholes option-pricing model. Key assumptions used to apply this pricing model are as follows:

Under the long-term component, grants of performance share units (“PSUs”) are made annually to key employees and the share units are earned based on the achievement of certain overall corporate financial performance targets over the performance period. At the end of the performance period, the number of shares of common stock issued will be determined by adjusting upward or downward from the target in a range between 50% and 250%.No shares will be issued if the minimum performance threshold isnot achieved. The final performance percentage, on which the payout will be based considering the performance metrics established for the performance period, will be certified by the Compensation Committee of the Board of Directors.

A participant’s right to any shares that are earned will cliff vest inthree years. An executive whose employment terminates prior to the vesting of any award for a reason other than death, disability, retirement, or following a change in control, will forfeit the shares represented by that award. In certain circumstances, such as death, disability, or retirement, PSUs are paid on a pro-rata basis. In the event of a change in control, vesting of the awards granted is accelerated.

A summary of the awards activity under the executive compensation program is as follows:

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Restricted stock awards granted under the annual component of this program in fiscal years2026,2025, and2024 had a weighted average grant date fair value of $117.36, $148.03, and $81.41, respectively. The PSUs granted in fiscal years2025 and2024 had a weighted average grant date fair value of $148.03 and $81.41, respectively. The grant date fair value of the PSUs is determined based on the closing price of the Company’s common stock on the date of grant. The fair value of PSUs vested under the long-term component of this program during the fiscal years ended* June 30,*2026,2025, and2024 was $3.6 million, $7.9 million, and $21.4 million, respectively.

The Company recognized compensation expense related to the PSUs of $1.9 million, $1.9 million, and $2.9 million for the fiscal years ended* June 30,2026,2025 and2024, respectively, based on the probability of the performance targets being met. The total unrecognized compensation costs related to non-vested performance share units was $5.0 million at June 30,*2026, which is expected to be recognized over a weighted average period of 1.84 years.

Employee Stock Purchase Plan

The Company has an Employee Stock Purchase Plan, which is considered a compensatory Plan as it allows employees to purchase shares of common stock of the Company at a 15% discount from the market each quarter. At the beginning of each calendar quarter, employees* mayelect to purchase shares of Company stock at a value equal to 85% of the closing price on the last trading day of the quarter. The15%* discount is recorded as a component of SG&A in the Company’s Consolidated Statements of Operations. Shares of stock reserved for the plan were 30,550 at* June 30,*2026. Shares purchased under this plan aggregated to 3,291 in fiscal year2026,4,393 in2025, and 3,778 in2024, at an average price of $217.14, $143.52, and $137.38, respectively.

14. Accumulated Other Comprehensive Income (LosS)

The components of the Company’s accumulated other comprehensive income (loss) are as follows (in thousands):

15**. restructuring**

The Company has undertaken a number of initiatives that have resulted in severance, restructuring, and related charges. Restructuring liabilities are included in accrued liabilities on the consolidated balance sheet. A summary of charges by initiative is as follows (in thousands):

2026 Restructuring Initiatives

The Company continues to focus its efforts to reduce cost and improve productivity across businesses, particularly through headcount reductions, facility closures, and consolidations. Restructuring expenses primarily related to headcount reductions and other cost saving initiatives. During fiscal year2026**,we also incurred restructuring expenses related tothird party assistance with analysis and implementation of these activities, write off of leases and other equipment, and relocation expenses.

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Prior Year Restructuring Initiatives

The Company continues to focus its efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions, facility closures, and consolidations. During fiscal years2025 and2024, the Company also incurred restructuring expenses related to headcount reductions, facility rationalization andthird party assistance with analysis and implementation of these activities.

The Company expects to incur additional restructuring costs of approximately $1.7 million in fiscal year2027 as the Company continues to focus its efforts to reduce cost and improve productivity across its businesses, particularly through facility closures and consolidations.

Activity in the reserves related to prior year restructuring initiatives is as follows (in thousands):

Activity in the reserves in fiscal year2025 (in thousands):

The Company’s total restructuring expenses by segment are as follows (in thousands):

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16**. Employee Benefit Plans**

Retirement Plans

The Company has defined benefit pension plans covering certain current and former employees both inside and outside of the U.S. The Company’s pension plan for U.S. employees is frozen for substantially all employees and participants in the plan have ceased accruing future benefits. Obligations under the unfunded defined benefit plan operated by the Sanyu business in Japan were transferred to the Company as of the date of acquisition in thethird quarter of fiscal year2024**.

Net periodic benefit cost for U.S. and non-U.S. plans included the following components (in thousands):

The following table sets forth the funded status and amounts recognized as of* June 30,*2026 and2025 for our U.S. and foreign defined benefit pension plans (in thousands):

The accumulated benefit obligation for all defined benefit pension plans was $180.8 and $191.6 million at* June 30,*2026 and2025, respectively.

The estimated actuarial net loss for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is $5.1 million.

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Plan Assets and Assumptions

The fair values of the Company’s pension plan assets at* June 30,*2026 and2025 by asset category, as classified in thethree levels of inputs described in Note1 under the captionFair Value of Financial Instruments, are as follows (in thousands):

Asset allocationand target asset allocationsare as follows:

Our investment policy for the U.S. pension plans targets a range of exposure to the various asset classes. Standex rebalances the portfolio periodically when the allocation isnot within the desired range of exposure. The plan seeks to provide returns in excess of the various benchmarks. The benchmarks include the following indices: S&P500; Citigroup PMI EPAC; Citigroup World Government Bond and Barclays Aggregate Bond. Athird-party investment consultant tracks the plan’s portfolio relative to the benchmarks and provides quarterly investment reviews which consist of a performance and risk assessment on all investment managers and on the portfolio.

Certain managers within the plan use, or have authorization to use, derivative financial instruments for hedging purposes, the creation of market exposures and management of country and asset allocation exposure. Currency speculation derivatives are strictly prohibited.

Included in the above are the following assumptions relating to the obligations for defined benefit pension plans in the United States at* June 30,*2026; discount rate of 5.8% and expected return on assets of 6.35%. The U.S. defined benefit pension plans represent the majority of our pension obligations. The expected return on plan assets assumption is based on our expectation of the long-term average rate of return on assets in the pension funds and is reflective of the current and projected asset mix of the funds. The discount rate reflects the current rate at which pension liabilities could be effectively settled at the end of the year. The discount rate is determined by matching our expected benefit payments from a stream of AA- or higher bonds available in the marketplace, adjusted to eliminate the effects of call provisions.

Expected benefit payments for all plans during the nextfive fiscal years are as follows:2027, $17.4 million;2028, $17.2 million;2029, $16.9 million;2030, $16.4 million;2031, $16.4 million and years thereafter, $73.8 million. The Company expects to make $5.0 million of contributions to its pension plans in fiscal year2027.

The Company operates defined benefit plans in Germany and Japan which are unfunded.

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Multi-Employer Pension Plans

We contribute totwo multiemployer defined benefit plans under the terms of collective bargaining agreements that cover our union-represented employees. These plans generally provide for retirement, death and/or termination benefits for eligible employees within the applicable collective bargaining units, based on specific eligibility/participation requirements, vesting periods and benefit formulas. The risks of participating in these multiemployer plans are different from single-employer plans in the following aspects:

The following table outlines the Company’s participation in multiemployer pension plans for the periods ended* June 30,*2026,2025, and2024, and sets forth the yearly contributions into each plan. The “EIN/Pension Plan Number” column provides the Employer Identification Number (“EIN”) and thethree-digit plan number. The most recent Pension Protection Act zone status available in2026 and2025 relates to the plans’two most recent fiscal year-ends. The zone status is based on information that we received from the plans’ administrators and is certified by each plan’s actuary. Among other factors, plans certified in the red zone are generally less than65% funded, plans certified in the orange zone are both less than80% funded and have an accumulated funding deficiency or are expected to have a deficiency in any of the nextsix plan years, plans certified in the yellow zone are less than80% funded, and plans certified in the green zone are at least80% funded. The “FIP/RP Status Pending/Implemented” column indicates whether a financial improvement plan (“FIP”) for yellow/orange zone plans, or a rehabilitation plan (“RP”) for red zone plans, is either pending or has been implemented. For all plans, the Company’s contributions donot exceed5% of the total contributions to the plan in the most recent year.

Retirement Savings Plans

The Company hastwo primary employee savings plans, one for salaried employees andone for hourly employees. Substantially all of our full-time domestic employees are covered by these savings plans. Under the provisions of the plans, employees* maycontribute a portion of their compensation within certain limitations. The Company, at the discretion of the Board of Directors, maymake contributions on behalf of our employees under the plans. Company contributions were $3.7 million, $3.1 million, and $2.8 million for the years ended June 30,2026,2025, and2024, respectively. At June 30,*2026, the salaried plan holds approximately 66,000 shares of Company common stock, representing approximately 5.83% of the holdings of the plan.

17**. Industry Segment Information**

The company operates in the following four reportable segments organized around the types of products sold. Its operating segments contain similar products and economic characteristics, and shared similar types of customers, and production and distribution methods. The Company has determined that its CEO is its Chief Operating Decision Maker (CODM) who is responsible for assessing performance and allocating resources. The CODM primarily evaluates segment performance based on net revenue and doesnot regularly review specific expense categories at the segment level. Instead, expenses are managed and assessed on a consolidated basis rather than by individual segment. While certain operating expenses* maybe incurred at the segment level, these arenot* regularly reviewed by the CODM when evaluating performance or allocating resources. As a result, the Company doesnot allocate or disclose certain expense details by segment. The CODM primarily reviews these profit measures in comparison to forecasts, trends, key performance targets, and results of industry peers to assess profitability, identify areas for improvement, and make strategic decisions regarding investments and resource allocation within each segment.

• Electronics – manufacturing and selling of electronic components for applications throughout the end-user market spectrum;

• Aerospace & Defense – provides net and near net formed single-source customized solutions in the manufacture of engineered components for the aviation, aerospace, defense, energy, industrial, medical, marine, oil and gas, and manned and unmanned space markets;

• Scientific – sells specialty temperature-controlled equipment for the medical, scientific, pharmaceutical, biotech and industrial markets;

• Engraving & Hydraulics – provides mold texturing, slush molding tools, project management and design services, roll engraving, hygiene product tooling, low observation vents for stealth aircraft, and process machinery for a number of industries and single and double acting telescopic and piston rod hydraulic cylinders;

Net sales include only transactions with unaffiliated customers and includeno significant intersegment or export sales. Operating income by segment and geographic area excludes general corporate and interest expenses. Assets of the Corporate segment consist primarily of cash, office equipment, and other non-current assets.

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Given the nature of its corporate expenses, the Company concluded that it wouldnot presently be appropriate to allocate the expenses associated with corporate activities to our operating segments. These corporate expenses include the costs for the corporate headquarters, salaries and wages for the personnel in corporate, professional fees related to corporate matters and compliance efforts, stock-based compensation and post-retirement benefits related to our corporate executives, officers and directors, and other compliance related costs. The Company has a process to allocate and recharge certain direct costs to the operating segments when such direct costs are administered and paid at corporate. Such direct expenses that are recharged on an intercompany basis each month include such costs as insurance, workers’ compensation programs, and audit fees. The accounting policies applied by the reportable segments are the same as those described in the Summary of Accounting Policies footnote to the consolidated financial statements. There areno differences in accounting policies which would be necessary for an understanding of the reported segment information.

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18**. Divestitures**

On* March 5, 2026,the Company closed on the sale of and divested Federal Industries ("Federal"), its display merchandising business to athird* party for cash proceeds of $68.3 million, net of cash retained and subject to customary adjustments for net working capital, cash and indebtedness. The divestiture doesnot represent a strategic shift that has a major effect on the Company’s operations and financial results and its results are included in continuing operations on the Company's Consolidated Statements of Operations. The net income of the disposal group through the completion date is included in the Company's Consolidated Statements of Operations. The pre-tax income for Federal was $4.0 million, $7.3 million and $9.3 million for years ended* June 30, 2026*,2025 and2024 respectively.

The table below summarizes the components of the transaction and the resulting gain on divestiture (in thousands):

19. DISCONTINUED OPERATIONS

In pursuing our business strategy, the Company continues to divest certain businesses and record activities of these businesses as discontinued operations.

Activity related to discontinued operations for the most recentthree fiscal years is as follows (in thousands):

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20. LEASES

In the normal course of its business, the Company enters into various leases as the lessee, primarily related to certain transportation vehicles, facilities, office space, and machinery and equipment. These leases have remaining lease terms betweenone andfifty-five years, some of which* may*include options to extend the leases or options to terminate the leases. Some lease arrangements require variable payments that are dependent on usage, output, or index-based adjustments.

Amounts recorded in the Company's Consolidated Balance Sheet and Statement of Operations related to leases are as follows (in thousands):

Lease cost

The components of lease costs are as follows (in thousands):

Maturity of lease liability

The maturity of the Company's lease liabilities included in continuing operations at* June**30,* 2026 were as follows (in thousands):

The weighted average remaining lease term and discount rates are as follows:

Supplemental cash flow information related to leases is as follows:

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21. Redeemable Noncontrolling Interest

The redeemable noncontrolling interest consists of 9.9% of common stock of Narayan Powertech Private Limited ("Narayan"), a privately-held India-based company. The Company owned the remaining 90.1%. During the year ended* June 30, 2026*, Narayan declared and distributed a dividend of $2.7 million to the Company and its noncontrolling interests, allocated according to equity ownership.

In accounting for the subsequent measurement of the redeemable noncontrolling interest measurement adjustments pursuant to ASC480, Distinguishing Liabilities from Equity, the Company has made accounting policy elections to record any such applicable changes on the immediate recognition of the full adjustment required to report the redeemable noncontrolling interest at its redemption value, while also electing to record such adjustments under the income method, with a corresponding offset recorded to the Net income attributable to noncontrolling interests in consolidated subsidiaries within the consolidated statement of operations for the period in which such measurement adjustment becomes required. A re-measurement adjustment of $21.0 million was recorded for the year ended* June 30, 2026* to record the noncontrolling interest as of* June 30, 2026* at its estimated redemption value based on the terms of the Shareholder Agreement with the noncontrolling interest shareholder. This re-measurement adjustment was recorded as a component of the total net income attributable to redeemable noncontrolling interest financial statement line in the Company’s consolidated statements of operations.

On* June 26, 2026,the Company and the Narayan noncontrolling interest holders entered into a Securities Purchase Agreement, pursuant to which the Company agreed to acquire the remaining 9.90% of the outstanding capital stock of Narayan from the Narayan noncontrolling shareholders for aggregate cash consideration of approximately $64.0 million. The closing of this transaction occurred on July 2, 2026.As of June 30, 2026*, the difference of $17.4 million between the carrying amount of redeemable noncontrolling interest and the aggregate cash consideration is accounted for as an equity transaction and didnot impact the income statement.

To the stockholders and the Board of Directors of Standex International Corporation

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of Standex International Corporation and subsidiaries (the "Company") as of June 30, 2026 and 2025, the related consolidated statements of operations, comprehensive income, redeemable noncontrolling interest and stockholders' equity, and cash flows, for each of the three years in the period ended June 30, 2026, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2026 and 2025, and the results of its operations and its cash flows for each of the three years in the period ended June 30, 2026, in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of June 30, 2026, based on criteria established inInternal Control—* Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated August 13, 2026, expressed an unqualified opinion on the Company's internal control over financial reporting.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current-period audit of the financial statements that was communicated or required to be communicated to the audit committee and that (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Revenue recognition–*** Revenue recognized over time***–*** Refer to note 3 to the financial statements***

Critical Audit Matter Description

Revenue is recognized over time under certain long-term contracts within the Aerospace & Defense group for highly customized customer products that have no alternative use and in which the contract specifies the Company has a right to payment for its costs, plus a reasonable margin. For products manufactured over time, the transfer of control is measured based upon current estimates of costs to complete such contracts. Losses on contracts are fully recognized in the period in which the losses become determinable. Revisions in profit estimates are reflected on a cumulative basis in the period in which the basis for such revision becomes known.

We identified revenue recognized over time as a critical audit matter because of the judgments and subjectivity involved in the determination of estimated costs to complete contracts. This required extensive audit effort and a high degree of auditor judgment when performing audit procedures to test costs incurred to date and management’s estimates of margin at completion used to recognize revenue over time and evaluating the results of those procedures.

How the Critical Audit Matter Was Addressed in the Audit

Our audit procedures related to management’s estimates of total costs and profit used to recognize revenue for certain performance obligations accounted for over time included the following, among others:

/s/Deloitte & Touche LLP

Boston, Massachusetts

August 13, 2026

We have served as the Company’s auditor since 2020.