Neogen insider activity: 2,071 shares from RSU settlement at $5.63

Rhea-AI Filing Summary

Insider report: A director of Neogen Corporation (NEOG) had 2,071 restricted stock units vest and be settled for 2,071 shares of common stock on 10/07/2025. The transaction is recorded as a vesting/settlement (code M) with an indicated price of $5.63 per share. After the settlement the reporting person beneficially owned 92,545 shares. The Form 4 was signed on 10/09/2025.

Positive

• Routine compensation settlement: 2,071 RSUs vested and converted to shares, reflecting normal director pay
• Transparency: Transaction reported on Form 4 and signed on 10/09/2025, providing timely disclosure

Negative

• None.

Insights

Corporate Governance Analyst

Director RSUs vested and were settled into common shares.

The filing records the contractual vesting and settlement of 2,071 restricted stock units into the same number of common shares on 10/07/2025, recorded under transaction code M which denotes a settlement of a previously granted award.

This is a routine, non‑market transaction tied to compensation, not an open‑market trade; investors may note that the reporting person holds 92,545 shares after the settlement, which is the disclosed beneficial ownership level to monitor over time.

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^*

BOREL JAMES C

(Last) (First) (Middle)

620 LESHER PLACE

(Street)

LANSING MI 48912

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEOGEN CORP [ NEOG ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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 Stock	10/07/2025		M		2,071	A	$5.63	92,545	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
Restricted Stock Units	$5.63	10/07/2025		M			2,071	10/07/2025	10/07/2025	Common Stock	2,071	$5.63	0	D

Explanation of Responses:

Remarks:

Each RSU is the economic equivalent of one share of common stock. On October 7, 2025, these RSUs vested and were settled for an equal number of shares of common stock.

	Christopher Sefcheck (Attorney in Fact)	10/09/2025
	** 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 happened in the NEOG Form 4 filed on 10/09/2025?

A director had 2,071 restricted stock units vest and be settled for 2,071 common shares on 10/07/2025 at an indicated price of $5.63.

How many NEOG shares does the reporting person own after the transaction?

The reporting person beneficially owned 92,545 shares following the settlement.

What does transaction code M mean on the Form 4 for NEOG?

Code M indicates a transaction where securities were acquired by means of the settlement of a restricted stock unit or similar award; here RSUs vested and were settled into shares.

Was this an open-market purchase or sale for NEOG (NEOG)?

No; this was a compensation-related settlement of RSUs into shares, not an open-market trade.

What price is shown for the settled RSUs on the NEOG Form 4?

The Form shows an indicated price of $5.63 per share for the settled RSUs.