ROYCE & ASSOCIATES, through Royce & Associates, LP, reports beneficial ownership of common stock of LSI Industries Inc. as an institutional investor filing on a passive basis. The position represents 1,836,591 shares of common stock, equal to 5.00% of the class.
The firm has sole voting power and sole dispositive power over all 1,836,591 shares, with no shared voting or dispositive power reported. The securities are held in investment management accounts of clients, and Royce & Associates states they are held in the ordinary course of business and not for the purpose of changing or influencing control of LSI Industries. The firm and its affiliates use informational barriers and treat voting and investment decisions as exercised independently; Royce & Associates also disclaims any pecuniary interest and beneficial ownership beyond what is deemed under Rule 13d‑3.
Positive
None.
Negative
None.
Key Figures
Beneficially owned shares:1,836,591 sharesPercent of class:5.00%Sole voting power:1,836,591 shares+3 more
6 metrics
Beneficially owned shares1,836,591 sharesCommon stock of LSI Industries Inc. reported by Royce & Associates
Percent of class5.00%Portion of LSI Industries common stock class held by Royce & Associates
Sole voting power1,836,591 sharesShares for which Royce & Associates has sole power to vote or direct the vote
Sole dispositive power1,836,591 sharesShares for which Royce & Associates has sole power to dispose or direct disposition
CUSIP50216C108CUSIP number for LSI Industries Inc. common stock
Certification date07/22/2026Date of signature by Vice President Daniel A. O'Byrne
Key Terms
beneficial owner, sole voting power, dispositive power, Rule 13d 3, +2 more
6 terms
beneficial ownerregulatory
"RALP may be deemed to be the beneficial owner of the securities reported"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
sole voting powerfinancial
"Sole power to vote or to direct the vote: 1836591.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
dispositive powerfinancial
"Sole power to dispose or to direct the disposition of: 1836591.00"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
Rule 13d 3regulatory
"for purposes of Rule 13d 3 under the Act, RALP may be deemed"
informational barriersregulatory
"internal policies and procedures ... establish informational barriers that prevent the flow"
groupregulatory
"RALP believes that it is not a "group" with FRI affiliates"
What percentage of LSI Industries Inc. (LYTS) does Royce & Associates report owning?
Royce & Associates reports beneficial ownership of 5.00% of the common stock of LSI Industries Inc. This stake corresponds to 1,836,591 shares with sole voting and sole dispositive power over the entire reported position.
How many LSI Industries (LYTS) shares does Royce & Associates beneficially own?
Royce & Associates reports beneficial ownership of 1,836,591 shares of LSI Industries common stock. This position represents 5.00% of the outstanding class, with no shared voting or dispositive power disclosed in the Schedule 13G filing.
Does Royce & Associates have sole or shared voting power over LYTS shares?
Royce & Associates reports sole voting power over 1,836,591 shares of LSI Industries and no shared voting power. It also reports sole dispositive power over the same number of shares and no shared dispositive power.
Is Royce & Associates’ 5% LYTS stake intended to influence control of LSI Industries?
Royce & Associates certifies the LYTS securities were acquired and held in the ordinary course of business, not for the purpose of changing or influencing control of LSI Industries or in connection with any such control-related transaction.
Who actually owns the LSI Industries (LYTS) shares reported by Royce & Associates?
The LYTS securities are beneficially owned by one or more investment management clients of Royce & Associates, LP. Royce & Associates reports investment discretion and voting authority but disclaims pecuniary interest and broader beneficial ownership beyond Rule 13d‑3.
How is Royce & Associates related to Franklin Resources in the LYTS ownership report?
Royce & Associates, LP is described as an indirect majority owned subsidiary of Franklin Resources, Inc. (FRI). Voting and investment powers over LYTS are exercised independently from FRI and its other affiliates, supported by internal informational barriers.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
LSI Industries Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
50216C108
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
50216C108
1
Names of Reporting Persons
ROYCE & ASSOCIATES LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
NEW YORK
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,836,591.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,836,591.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,836,591.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
Address or principal business office or, if none, residence:
One Madison Avenue, New York, NY 10010
(c)
Citizenship:
New York Corporation
(d)
Title of class of securities:
Common Stock
(e)
CUSIP Number(s):
50216C108
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
1836591.00
(b)
Percent of class:
5.00 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
1836591.00
(ii) Shared power to vote or to direct the vote:
0.00
(iii) Sole power to dispose or to direct the disposition of:
1836591.00
(iv) Shared power to dispose or to direct the disposition of:
0.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
ROYCE & ASSOCIATES LP
Signature:
Daniel A. O'Byrne
Name/Title:
Vice President
Date:
07/22/2026
Exhibit Information
The securities reported herein are beneficially owned by one or more registered investment companies or other managed accounts that are investment management clients of Royce & Associates, LP ("RALP"), an indirect majority owned subsidiary of Franklin Resources, Inc.("FRI"). When an investment management contract (including a sub advisory agreement) delegates to RALP investment discretion or voting power over the securities held in the investment advisory accounts that are subject to that agreement, FRI treats RALP as having sole investment discretion or voting authority, as the case may be, unless the agreement specifies otherwise. Accordingly, RALP reports on Schedule 13G that it has sole investment discretion and voting authority over the securities covered by any such investment managementagreement, unless otherwise noted in this Item 4. As a result, for purposes of Rule 13d 3 under the Act, RALP may be deemed to be the beneficial owner of the securities reported in this Schedule 13G. Beneficial ownership by investment management subsidiaries and other affiliates of FRI is being reported in conformity with the guidelines articulated by the SEC staff in Release No. 3439538 (January 12, 1998) relating to organizations, such as FRI, where related entities exercise voting and investment powers over the securities being reported independently from eachother. The voting and investment powers held by RALP are exercised independently from FRI(RALP's parent holding company) and from all other investment management subsidiaries of FRI (FRI, its affiliates and investment management subsidiaries other than RALP are, collectively, "FRI affiliates"). Furthermore, internal policies and procedures of RALP and FRI affiliates establish informational barriers that prevent the flow between RALP and the FRI affiliates of information that relates to the voting and investment powers over the securities owned by their respective investment management clients. Consequently, RALP and the FRI affiliates report the securities over which they hold investment and voting power separately from each other for purposes of Section 13 of the Act. Charles B. Johnson and Rupert H. Johnson, Jr. (the "Principal Shareholders") may each own in excess of 10% of the outstanding common stock of FRI and are the principal stockholders of FRI (see FRI's Proxy Statement-Stock Ownership of Certain Beneficial Owners). However, because RALP exercises voting and investment powers on behalf of its investment management clients independently of FRI affiliates, beneficial ownership of the securities reported by RALP is not attributed to the Principal Shareholders. RALP disclaims any pecuniary interest in any of the securities reported in this Schedule 13G. In addition, the filing of this Schedule 13G on behalf of RALP should not be construed as an admission that it is, and it disclaims that it is, the beneficial owner, as defined in Rule 13d 3, of any of such securities. Furthermore, RALP believes that it is not a "group" with FRI affiliates, the Principal Shareholders, or their respective affiliates within the meaning of Rule 13d 5 under the Act and that none of them is otherwise required to attribute to any other the beneficial ownership of the securities held by such person or by any persons or entities for whom or for which RALP or the FRI affiliates provide investment management services.
