0001437749-24-006422lyts20240301_8k.htm
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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) March 1, 2024
 
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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 ☐
 
 
 
 
Item8.01.   Other Events.
 
On March 4, 2024, LSI Industries Inc., an Ohio corporation (“LSI”), issued a press release announcing that on March 1, 2024, LSI granted to Kevin Kilkelly, President of Atlas Lighting Products, Inc., 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.
 
Item9.01   Financial Statements and Exhibits.
 
 
 
(d)
Exhibits
 
 
ExhibitNo.
  
Description
     
99.1
  
     
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
Resources and General Counsel
     
 
Dated: March 4, 2024
 
 
0001437749-24-006422ex_633695.htm

Exhibit 99.1

 

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FOR IMMEDIATE RELEASE                                                               

DATE: March 4, 2024                  

 

 

LSI INDUSTRIES INC. REPORTS INDUCEMENT GRANTS UNDER NASDAQ LISTING RULES

 

Cincinnati, OH; March 4, 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 Kevin Kilkelly, President, Atlas Lighting Products, Inc., effective March 1, 2024. The awards were granted by the Company’s Compensation Committee.

 

Mr. Kilkelly 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 February 28, 2024 and has a ten-year term. The option is exercisable at a price of $14.41 per share (the closing price on March 1, 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