Definitive additional materials.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

SCHEDULE 14A

(RULE 14a-101)

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No.    )

 

 

Filed by the Registrant  x                             Filed by a party other than the Registrant  ¨

Check the appropriate box:

 

¨

  

Preliminary Proxy Statement.

¨

  

Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

¨

  

Definitive Proxy Statement.

x

  

Definitive Additional Materials.

¨

  

Soliciting Material pursuant to §240.14a-11(c) of §240.14a-12.

Kewaunee Scientific Corporation

(Name of Registrant as Specified In Its Charter)

 

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

x

  

No fee required.

¨

  

Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

 

1)

  

Title of each class of securities to which transaction applies:

 

     

 

2)

  

Aggregate number of securities to which transaction applies:

 

     

 

3)

  

Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

     

 

4)

  

Proposed maximum aggregate value of transaction:

 

     

 

5)

  

Total fee paid:

 

     

¨

  

Fee paid previously with preliminary materials.

¨

  

Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

1)

  

Amount previously paid:

 

     

 

2)

  

Form, Schedule or Registration Statement No.:

 

     

 

3)

  

Filing party:

 

     

 

4)

  

Date Filed:

 

     

 

 

 

KEWAUNEE SCIENTIFIC CORPORATION

PROXY STATEMENT SUPPLEMENT

This proxy statement supplement, dated July 26, 2016, supplements the definitive proxy statement (the “Proxy Statement”) of Kewaunee Scientific Corporation (the “Company”) filed with the Securities and Exchange Commission on July 22, 2016 relating to the annual meeting of stockholders of the Company to be held at The Conference Center at UBS Tower, One North Wacker Drive, Second Floor, Chicago, Illinois, on August 31, 2016, at 10:00 A.M.

The purpose of this supplement is to correct errors in the “All Other Compensation” and “Total” columns and footnote (3) to the Summary Compensation Table for Fiscal Year 2016 appearing on page 17 of the Proxy Statement.

The Summary Compensation Table for Fiscal Year 2016 is amended to read as follows:

Summary Compensation Table for Fiscal Year 2016

 

Name and Principal Position

    Year      Base
Salary
($)		      Option
Awards
($) (1)		      Bonus ($)      Nonequity
Incentive
Plan
Compensation
($)		      Change in
Pension Value
And
Nonqualified
Deferred
Compensation
Earnings
($) (2)		     All Other
Compensation
($) (3)		      Total
($)		  

David M. Rausch

      2016         360,000         39,900            31,080         (1,362 )      31,286         460,904   

President and Chief Executive Officer

      2015         335,000         66,000            9,997         19,713        27,600         458,310   

Thomas D. Hull III (4)

      2016         125,000         23,040         25,000         43,750           42,626         259,416   

Vice President, Finance, Chief Financial Officer, Treasurer and Secretary

                       

D. Michael Parker (5)

      2016         173,497                  1,379        325,201         500,077   

Senior Vice President, Finance, Chief Financial Officer, Treasurer and Secretary

      2015         258,982         39,600            7,903         57,196        21,351         385,032   

Keith D. Smith

      2016         206,914         15,960            17,089         (2,489 )      22,952         260,426   

Vice President, Manufacturing

      2015         200,887         26,400               14,437        16,071         257,795   

 

(1)

See Note 5 to the Consolidated Financial Statements included in the Company’s 2016 Annual Report on Form 10-K for a discussion of the assumptions underlying the value of stock options.

(2)

The amount listed for each named executive officer consists of the current year change in the present value of benefits earned under the Pension Plan. No benefits were earned under the Pension Plan during the year. See “Compensation Discussion and Analysis – Executive Officer Compensation – Other Compensation Plans” in this Proxy Statement for additional information regarding the Pension Plan.

(3)

The amounts listed for each named executive officer consist of matching and non-matching contributions made or accrued by the Company on behalf of that executive officer to the Company’s 401(k) Incentive Savings Plan and 401 Plus Executive Deferred Compensation Plan. All Other Compensation for Mr. Parker also includes retirement benefits earned during fiscal year 2016 in the amount of $311,321. All Other Compensation for Mr. Hull also includes relocation expense reimbursement of $37,699.

(4)

Mr. Hull took office on November 2, 2015. Compensation shown is for the period from that date through April 30, 2016.

(5)

Mr. Parker retired on October 13, 2015. Compensation shown includes amounts paid during fiscal year 2016, including pursuant to Mr. Parker’s separation agreement.

Except as specifically revised by the information contained herein, this supplement does not revise or update any of the other information set forth in the Proxy Statement. This supplement should be read in conjunction with the Proxy Statement. From and after the date of this supplement, any references to the “Proxy Statement” are to the Proxy Statement as supplemented hereby.

 

1