[Form 4] LSI INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

James A. Clark, CEO and President and a director of LSI Industries Inc. (LYTS), reported an acquisition of 3,417 common shares on 09/30/2025 through the companys Non-Qualified Deferred Compensation Plan. The filing states those shares were purchased during the quarter ended September 30, 2025 at prices ranging from $17.68 to $23.66 per share. The Form 4 lists two reported "beneficially owned following" figures (206,085 and 421,313) that are presented in the filing but are not reconciled within the document. The form is signed by an attorney-in-fact, F. Mark Reuter.

Positive

• Acquisition recorded: Reporting person acquired 3,417 common shares
• Clear price range disclosed: Shares purchased at $17.68 to $23.66 per share
• Filed under Section 16: Form 4 submitted and signed by attorney-in-fact

Negative

• Unreconciled ownership figures: Form shows both 206,085 and 421,313 as "beneficially owned following" without explanation
• No context for materiality: Transaction size is small and the filing does not state percentage ownership or total outstanding shares

Insights

Financial Analyst

TL;DR: Insider purchase of 3,417 shares is recorded; transaction size appears modest relative to reported beneficial ownership figures.

The Form 4 documents a routine insider acquisition through the companys deferred compensation plan at prices between $17.68 and $23.66. The number acquired (3,417 shares) is small relative to the two reported beneficial ownership totals shown in the filing (206,085 and 421,313), which the filing does not reconcile. There is no indication of derivative transactions or dispositions in this filing. From a capital-markets perspective, the transaction is informational and not material on its face.

Corporate Governance Expert

TL;DR: Filing shows routine insider accrual under a deferred compensation plan; disclosure contains inconsistent ownership figures that merit clarification.

The report reflects an acquisition under a Non-Qualified Deferred Compensation Plan, a common mechanism for executive compensation. Proper Section 16 reporting appears to have been made and the filing is signed by an authorized attorney-in-fact. However, the presence of two different "beneficially owned following" figures (206,085 and 421,313) without explanation reduces clarity. Stakeholders seeking precise insider exposure should request or wait for a clarifying amendment.

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

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

1. Name and Address of Reporting Person^*

Clark James Anthony

(Last) (First) (Middle)

10000 ALLIANCE RD

(Street)

CINCINNATI OH 45242

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LSI INDUSTRIES INC [ LYTS ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and President

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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
Common Shares(1)	09/30/2025		A	V	3,417	A	(1)	206,085	D
Common Shares								421,313	D

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

Explanation of Responses:

1. Common shares acquired in the LSI Industries Inc. Non-Qualified Deferred Compensation Plan during the quarter ended September 30, 2025 at prices ranging from $17.68 to $23.66 per share.

	/s/ F. Mark Reuter as Attorney-in-Fact for James A. Clark	09/30/2025
	** 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

What did James A. Clark (LYTS) report on this Form 4?

He reported an acquisition of 3,417 common shares through LSI Industries Inc.s Non-Qualified Deferred Compensation Plan.

When was the transaction dated in the Form 4 for LYTS?

The transaction date is listed as 09/30/2025 and the shares were acquired during the quarter ended September 30, 2025.

At what prices were the LYTS shares acquired?

The filing states the shares were purchased at prices ranging from $17.68 to $23.66 per share.

How many shares does the Form 4 show as beneficially owned after the transaction?

The filing displays two figures for beneficial ownership following the reported transactions: 206,085 and 421,313, which are not reconciled in the form.

Who signed the Form 4 for James A. Clark?

The form is signed by F. Mark Reuter as Attorney-in-Fact on 09/30/2025.