8-K - LYTS - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON , DC 20549

FORM 8-K

CURRENT REPORT

Purs uant to Section 13 or 15(d) of t he

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) February 5, 2020

LSI INDUSTRIES INC.

(Exact name of Registrant as Specified in its Charter)

Ohio	01-13375	31-0888951
(State or Other<br><br> <br>Jurisdiction of<br><br> <br>Incorporation)	(Commission File Number)	(IRS Employer<br><br> <br>Identification<br><br> <br>No.)
10000 Alliance Road, Cincinnati, Ohio	45242
---	---
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code (513) 793-3200

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	LYTS	NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item8.01**.** Other Events**.**

On February 5, 2020, LSI Industries Inc., an Ohio corporation (“LSI”), issued a press release announcing that on February 4, 2020, LSI granted to Jeffrey Davis, the head of LSI sales and Brian Vincent, LSI’s Chief Support Officer, options to purchase 100,000 and 50,000 shares of LSI’s common stock, respectively, as material inducements to Mr. Davis’ and Mr. Vincent’s acceptance of employment with LSI in accordance with NASDAQ Listing Rule 5635(c)(4). A copy of the press release is filed herewith as Exhibit 99.1 to this Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d)	Exhibits
Exhibit No.	Description
---	---
99.1	LSI Press Release dated February 5, 2020

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LSI INDUSTRIES INC.
BY:/s/ Thomas A. Caneris
Thomas A. Caneris
Senior Vice President –Human Resources and General Counsel

Dated: February 5, 2020

ex_171444.htm

Exhibit 99.1

FOR IMMEDIATE RELEASE	CONTACT:	NOEL RYAN
DATE: FEBRUARY 5, 2020	(513) 372-3012

LSI INDUSTRIES INC. REPORTS INDUCEMENT GRANT****S UNDER NASDAQ LISTING RULES

Cincinnati, OH; **** February 5, 2020 – LSI Industries Inc. (NASDAQ: LYTS , or the “Company” ) a leading U.S. based manufacturer of indoor/outdoor lighting and graphics solutions, today announced inducement grants in accordance with NASDAQ Listing Rule 5635(c)(4) to Jeffrey Davis, the head of LSI sales and Brian Vincent, Chief Support Officer, effective February 4, 2020. The awards were granted by the Company’s Compensation Committee.

Mr. Davis was granted an inducement stock option to purchase up to 100,000 shares of the Company’s common stock. The award was approved in connection with the commencement of his employment with the Company and has a ten-year term. The option is exercisable at a price of $6.51 per share (the closing price on February 4, 2020) and will vest only if Mr. Davis remains an employee of the Company for three years.

Mr. Vincent was granted an inducement stock option to purchase up to 50,000 shares of the Company’s common stock in connection with the commencement of his employment with the Company and has a ten-year term. The option is exercisable at a price of $6.51 per share (the closing price on February 4, 2020), and one-third of the option will vest on each anniversary of the grant date.

About LSI Industries Inc.

LSI Industries Inc. is a U.S.-based manufacturer of lighting, graphics and technology solutions for both indoor and outdoor applications. We are a leading solutions provider to the primary end-markets we serve, including petroleum, automotive, quick serve restaurants, grocery, banking, retail, renovation, parking and warehousing. Our products are marketed throughout North America through a network of independent sales representatives and distributors, as well as through national accounts. We partner with our customers to provide a full range of design support, engineering, installation and project management services. Headquartered in Blue Ash, Ohio, The Company currently employs over 1,200 employees and operates seven facilities throughout the United States.

Forward-Looking Statements

For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, visit http://www.lsi-industries.com/fls as well as our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q which contain risk factors.

LSI Industries Inc. Reports Inducement Grant

February 5, 2020

For further information, contact Noel Ryan at (513) 372-3012.

Additional note: Today’s news release, along with past releases from LSI Industries Inc., is available on the Company’s internet site at www.lsi-industries.com.