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) June 1, 2020

 

 

LSI INDUSTRIES INC.

(Exact name of Registrant as Specified in its Charter)

 

Ohio

 

01-13375

 

31-0888951

(State or Other Jurisdiction of Incorporation)

 

(Commission File Number)

 

(IRS Employer Identification 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 June 5, 2020, LSI Industries Inc., an Ohio corporation (“LSI”), issued a press release announcing that on June 1, 2020, LSI granted to Jonathon Towner, LSI’s Vice President - Chief Information Officer, options to purchase 30,000 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

 

 

Exhibit No.

 

  

 

Description

 

99.1

 

LSI Press Release dated June 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: June 5, 2020

 

 
ex_189128.htm

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

DATE: JUNE 4, 2020

 

 

LSI INDUSTRIES INC. REPORTS INDUCEMENT GRANTS UNDER NASDAQ LISTING RULES

 

Cincinnati, OH; June 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 an inducement grant in accordance with NASDAQ Listing Rule 5635(c)(4) to Jonathon Towner, Vice President - Chief Information Officer, effective June 1, 2020. The awards were granted by the Company’s Compensation Committee.

 

Mr. Towner was granted an inducement stock option to purchase up to 30,000 shares of the Company’s common stock. The award was approved in connection with the commencement of his employment with the Company on June 1, 2020 and has a ten-year term. The option is exercisable at a price of $6.42 per share (the closing price on June 1, 2020) and one-third of the option will vest on each anniversary of the grant date.

 

 About LSI Industries Inc.

 

Headquartered in Blue Ash, Ohio (Greater Cincinnati), LSI Industries is a leading producer of high-performance, American-made lighting solutions. The Company’s strength in outdoor lighting applications creates opportunities for it to introduce additional solutions to its valued customers. LSI’s indoor and outdoor products and services, including its digital and print graphics capabilities, are valued by architects, engineers, distributors and contractors for their quality, reliability and innovation. The Company’s products are used extensively in automotive dealerships, petroleum stations, quick service restaurants, grocery stores and pharmacies, retail establishments, sports complexes, parking lots and garages, and commercial and industrial buildings. LSI has approximately 1,200 employees at seven manufacturing plants in the United States, including its corporate headquarters and international subsidiaries. Additional information about LSI is available at www.lsi-industries.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 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. 

 

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