LSI Industries (LYTS) Form 4: Option Exercises and Weighted Average Sale $23.29

Rhea-AI Filing Summary

James E. Galeese, Executive Vice President and Chief Financial Officer of LSI Industries Inc. (LYTS), reported multiple option exercises and share transactions dated 09/08/2025. The filing shows option exercises that resulted in acquisitions of 32,874 shares at an exercise price of $9.15 and 21,701 shares at $5.92. On the same date the reporting person sold shares in multiple transactions with a reported weighted average sale price of $23.29, and specific sales tied to the exercised lots are noted. The Form 4 lists remaining beneficial ownership and outstanding options across several strike prices with vesting schedules. The filing includes an explanation that the options were exercised for tax and financial planning purposes and that some shares are held in the company’s Non-Qualified Deferred Compensation Plan.

Positive

• Disclosure includes detailed transaction counts and weighted average sale price
• Filing states exercises were for tax and financial planning, adding context
• Some shares are held in the company's Non-Qualified Deferred Compensation Plan

Negative

• Insider sold material shares on 09/08/2025 (reported sales linked to exercised lots)
• Significant share dispositions reduce the reporting person's direct ownership

Insights

Financial Analyst

TL;DR: Insider exercised options and sold shares; transactions appear routine and linked to tax planning, not an operational signal.

The reporting shows the CFO exercised options (32,874 at $9.15 and 21,701 at $5.92) and concurrent share sales with a weighted average sale price of $23.29. The transactions reduced direct share holdings while leaving multiple option tranches outstanding with varied strikes and vesting. From a financial perspective these are customary liquidity and tax-planning moves by an executive and do not, by themselves, alter company fundamentals. The filing discloses volumes, prices, and that some shares are in the deferred compensation plan, which aids transparency.

Corporate Governance Expert

TL;DR: Proper Form 4 disclosure of option exercises and sales; documentation appears compliant and includes price-range disclosure.

The Form 4 is signed by an attorney-in-fact and contains specific exercise and sale entries dated 09/08/2025, plus explanatory notes that the sales occurred in multiple transactions and a commitment to provide full pricing if requested. It also notes options vest ratably over three years and previously reported holdings, which supports procedural compliance. No indication of undisclosed related-party issues or deficient disclosure is present in the submitted content.

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

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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).

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^*

Galeese James E

(Last) (First) (Middle)

LSI INDUSTRIES INC.

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP; CFO

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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)								74,333	D
Common Shares	09/08/2025		M		32,874	A	$9.15	206,162	D
Common Shares	09/08/2025		S		32,874(2)	D	$23.29	173,288	D
Common Shares	09/08/2025		M		21,701	A	$5.92	194,989	D
Common Shares	09/08/2025		S		21,701(3)	D	$23.29	173,288	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
Option to Buy(4)	$9.15	09/08/2025		M			32,874	(5)	06/12/2027	Common Shares	60,000	$0	0	D
Option to Buy(4)	$5.92	09/08/2025		M			21,701	(5)	08/17/2027	Common Shares	38,000	$0	0	D
Option to Buy(4)	$4.94							(5)	08/16/2028	Common Shares	43,898		38,386	D
Option to Buy(4)	$3.83							(5)	08/21/2029	Common Shares	75,606		75,606	D
Option to Buy(4)	$6.8							(5)	08/19/2030	Common Shares	22,586		22,586	D

Explanation of Responses:

1. Common Shares held in the LSI Industries Inc. Non-Qualified Deferred Compensation Plan.

2. The reported price is a weighted average price. These shares were sold in multiple transactions ranging from $23.10 to $23.56. The Reporting Person undertakes to provide full pricing information to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission upon request.

3. The reported price is a weighted average price. These shares were sold in multiple transactions ranging from $23.10 to $23.56 The Reporting Person undertakes to provide full pricing information to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission upon request.

4. These holdings have previously been reported on Form 4.

5. The options vest ratably over a three year time period.

Remarks:

Options exercised for tax and financial planning purposes.

	/s/ F. Mark Reuter as Attorney-in-Fact for James E. Galeese	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did LYTS CFO James E. Galeese report on 09/08/2025?

The Form 4 shows option exercises resulting in 32,874 shares at $9.15 and 21,701 shares at $5.92, plus concurrent sales reported with a weighted average sale price of $23.29.

Why did the LYTS reporting person exercise options?

The Form 4 states in the remarks that options were exercised for tax and financial planning purposes.

How many shares were sold and at what price according to the LYTS Form 4?

The filing reports sales tied to the exercised lots and a weighted average sale price of $23.29 for those transactions; exact per-trade prices ranged from $23.10 to $23.56 as disclosed.

Does the Form 4 show remaining option holdings for the LYTS executive?

Yes. The filing lists outstanding options at various strike prices and expirations, for example option balances such as 75,606 shares (strike $3.83) and other tranches with stated amounts and vesting schedules.

Who signed the Form 4 for James E. Galeese?

The Form 4 is signed by F. Mark Reuter as Attorney-in-Fact for James E. Galeese with a signature date of 09/10/2025.