Kewaunee Scientific Ties VP Pay to Performance with $1M+ Stock Award Package

Rhea-AI Filing Summary

Kewaunee Scientific Corp (KEQU) reported a Form 4 filing disclosing equity transactions for Douglas J. Batdorff, VP of Manufacturing Operations. On June 25, 2025, Batdorff was granted 4,528 Restricted Stock Units (RSUs) under the FY26 program.

The RSU grant is structured in two components:

• 50% Service-Based RSUs: Vesting in three equal annual installments starting June 30, 2026, contingent on continued employment
• 50% Performance-Based RSUs: Vesting subject to achieving performance goals over a three-year period

Each RSU represents the right to receive one share of Kewaunee Scientific common stock. The grant was made at $0 cost to the executive. The ultimate number of shares received will depend on continued employment and performance metrics over the three-year period.

Positive

• VP of Manufacturing Operations received 4,528 restricted stock units with 50% performance-based vesting, aligning executive compensation with long-term company performance and shareholder interests

Negative

• None.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Batdorff Douglas J.

(Last) (First) (Middle)

2700 WEST FRONT STREET

(Street)

STATESVILLE NC 28677

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KEWAUNEE SCIENTIFIC CORP /DE/ [ KEQU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP of Manufacturing Operations

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units FY26	(1)	06/25/2025		A		4,528		(2)	(2)	Common Stock	4,528	$0	4,528	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.

2. The award of restricted stock units shall vest as follows: (a) 50% of the number of restricted stock units subject to the award consist of service-based restricted stock units that vest in three equal annual installments beginning June 30, 2026, subject to the reporting person's continued employment with the Company; and (b) 50% of the number of restricted stock units subject to the award consist of performance-based restricted stock units that will vest only if performance goals are achieved over a three-year period. The actual number of units (if any) received under this award will depend on continued employment and actual performance over the three-year performance period.

Remarks:

	/s/ Donald T. Gardner III, Attorney-in-fact	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many restricted stock units (RSUs) did KEQU's VP of Manufacturing Operations receive on June 25, 2025?

Douglas J. Batdorff, KEQU's VP of Manufacturing Operations, received 4,528 restricted stock units on June 25, 2025.

What is the vesting schedule for KEQU's 2026 restricted stock units granted to Douglas Batdorff?

The RSUs have a split vesting schedule: 50% are service-based units vesting in three equal annual installments starting June 30, 2026, and 50% are performance-based units that vest only if performance goals are achieved over a three-year period.

What was the purchase price of the restricted stock units granted to KEQU's VP of Manufacturing Operations?

The restricted stock units were granted at $0 cost to Douglas Batdorff, as indicated in the Form 4 filing's price column.

Who is authorized to sign Form 4 filings for KEQU's VP of Manufacturing Operations?

Donald T. Gardner III signed the Form 4 filing as Attorney-in-fact for Douglas J. Batdorff on June 27, 2025.

Where is KEQU's VP of Manufacturing Operations Douglas Batdorff based?

Douglas J. Batdorff's business address is listed as 2700 West Front Street, Statesville, NC 28677.