8-K
Lsi Industries Inc (LYTS)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 15, 2024
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 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 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17CFR §240.12b-2 of this chapter).
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 ☐
Item 8.01. Other Events.
On April 15, 2024, LSI Industries Inc., an Ohio corporation (“LSI”), issued a press release announcing that on April 15, 2024, LSI granted to Michael Romano, Senior Vice President of Procurement and Logistics, options to purchase 10,000 shares of LSI’s common stock, as a material inducement to his 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 |
|---|---|
| ExhibitNo. | Description |
| --- | --- |
| 99.1 | LSI Press Release dated April 15, 2024 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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 |
| Executive Vice President –Human<br><br> <br>Resources and General Counsel |
Dated: April 15, 2024
ex_653582.htm
Exhibit 99.1
FOR IMMEDIATE RELEASE
DATE: April 15, 2024
LSI INDUSTRIES INC. REPORTS INDUCEMENT GRANTS UNDER NASDAQ LISTING RULES
Cincinnati, OH; April 15, 2024 – LSI Industries Inc. (NASDAQ: LYTS, or the “Company”) a leading U.S. based manufacturer of commercial lighting and display solutions, today announced an inducement grant in accordance with NASDAQ Listing Rule 5635(c)(4) to Michael Romano, Senior Vice President of Procurement and Logistics, effective April 15, 2024. The awards were granted by the Company’s Compensation Committee.
Mr. Romano was granted an inducement stock option to purchase up to 10,000 shares of the Company’s common stock. The award was approved in connection with the commencement of his employment with the Company on April 15, 2024 and has a ten-year term. The option is exercisable at a price of $14.17 per share (the closing price on April 15, 2024). The options will vest in full on the third anniversary date of grant.
About LSI Industries Inc.
Headquartered in Cincinnati, LSI Industries (Nasdaq: LYTS) specializes in the creation of advanced lighting, graphics, and display solutions. The company's American-made products, which include lighting, print graphics, digital graphics, refrigerated, and custom displays, are engineered to elevate brands in competitive markets. With a workforce of nearly 1,600 employees and 11 facilities throughout North America, LSI is dedicated to providing top-quality solutions to its customers. Additional information about LSI is available at www.lsicorp.com.
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 https://investors.lsicorp.com as well as our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q which contain risk factors.
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.
Investor contact: Noel Ryan, IRC; 770.778.2415; LYTS@vallumadvisors.com