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Pay vs Performance Disclosure
 12 Months Ended
Aug. 31, 2024
USD ($)
Aug. 31, 2023
USD ($)
Aug. 31, 2022
USD ($)
Aug. 31, 2021
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay Versus Performance
The Company is providing the following information about the relationship of the “compensation actually paid” to its Chief Executive Officer and the “average compensation actually paid” to its other Named Executive Officers (“Other NEOs”), as calculated under the pay versus performance proxy rules adopted by the SEC under the Dodd-Frank Act, for fiscal 2024, fiscal 2023, fiscal 2022, and fiscal 2021 to certain financial performance measures. This information is being provided for the purposes of compliance with the pay versus performance disclosure requirement. Neither the Human Resources and Compensation Committee nor management of the Company used the pay ratio measure in making compensation decisions. For information regarding the decisions made by the Human Resources and Compensation Committee regarding Named Executive Officers’ compensation and for additional details on how the Company aligns pay with performance, see the “Compensation Discussion and Analysis” and “Executive Compensation” sections in this Proxy Statement.
 
 
•
  
The “compensation actually paid” amounts are calculated by making
SEC-required
adjustments to the “Total” compensation amounts for the Named Executive Officers presented in the Summary Compensation Table. The dollar amounts for “compensation actually paid” in the table below do not reflect the actual amount of compensation earned, realized, or received by the Chief Executive Officer or any individual Named Executive Officer during the applicable fiscal years. A significant portion of the value reflected in the table remains subject to forfeiture if underlying vesting conditions for equity awards are not achieved.
 
 
•
  
The financial performance measures presented are Company total shareholder return (“Company TSR”), peer group total shareholder return (“Peer Group Index TSR”), net earnings, and ROIC. The peer group shown for the purposes of this pay versus performance disclosure is the S&P 600 Construction Machinery & Heavy Transportation Equipment Index, a peer group index that is presented in the Company Stock Performance graph in the Company’s Annual Report on Form
10-K
for the fiscal year ended August 31, 2024.
Pay Versus Performance Table – Fiscal 2024
 
Year
(1)(2)
 
Summary
Compensation
Table Total for
PEO
(Wood)
 
Compensation
Actually Paid
(3)
to PEO
(Wood)
 
Summary
Compensation
Table Total for
PEO
(Hassinger)
 
Compensation
Actually Paid
(3)
to PEO
(Hassinger)
 
Average
Summary
Compensation
Table Total for
Other NEOs
 
Average
Compensation
Actually Paid
(3)
to Other NEOs
 
Value of Initial Fixed $100

Investment Based on:
Net
Earnings
($M)
 
ROIC
(6)
(%)
 
Company
TSR
(4)
 
Peer Group
Index TSR
(5)
 
2024
   3,650,302   2,731,764     —   —   1,063,089   883,965     129.13   214.76   66.3   11.0  
2023
   3,859,697   1,520,230     —   —   1,131,911   425,907     127.70   168.07   72.4   13.4  
2022
   3,567,631   3,810,758     —   —   964,640   1,089,884     163.38   122.66   65.5   14.8  
2021
   2,203,151   4,245,023     4,820,110   12,926,718     878,122   1,876,659     166.30   127.44   42.6   10.4  
 
(1)
Mr. Wood succeeded Timothy L. Hassinger as PEO on January 1, 2021; each was a PEO for part of fiscal 2021. Mr. Wood was PEO for the entirety of fiscal 2022, fiscal 2023, and fiscal 2024.
 
(2)
Other NEOs were Messrs. Ketcham, Oberto, and Marion for each of the reported fiscal years.
 
(3)
See following table for additional details about the calculation of the “compensation actually paid” value.
 
   
SCT Total
Compensation
 
    
 
Less Equity Amounts
Reported in SCT
    
Plus Fair
Value of
Equity
Awards
Granted
During the
Fiscal Year
 
    
Change in
Fair Value
From Prior
Fiscal Year
of Unvested
and
Outstanding
Awards
 
    
Change in
Fair Value
From Prior
Fiscal Year
for Awards
Vesting in
the Fiscal
Year
 
    
Fair Value
of Awards as
of the Prior
Fiscal Year
that Failed
to Meet
Vesting
Conditions
During the
Year
 
    
Compensation
Actually Paid
 
  
($)
 
  
Stock
 Awards 
 
    
 Options 
 
  
PEO (Wood)
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
FY24
     3,650,302       (1,658,702 )      (499,996 )      1,816,249       (528,357 )      (47,733 )      —       2,731,764  
FY23
     3,859,697       (1,536,658 )      (481,223 )      1,776,897       (1,370,685 )      (727,799 )      —       1,520,230  
FY22
     3,567,631       (1,311,505 )      (436,696 )      1,735,808       371,558       (116,038 )      —       3,810,758  
FY21
     2,203,151       (826,466 )      (264,114 )      1,870,315       603,291       658,846       —       4,245,023  
PEO (Hassinger)
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
FY21
     4,820,110       (1,720,411 )      (549,891 )      6,758,957       3,465,209       152,744       —       12,926,718  
Average of
Non-PEO
NEOs
 
FY24
     1,063,089       (331,612 )      (99,967 )      363,093       (102,278 )      (8,361 )      —       883,965  
FY23
     1,131,911       (305,863 )      (95,826 )      353,726       (353,397 )      (304,644 )      —       425,907  
FY22
     964,640       (209,376 )      (68,674 )      289,147       170,698       (56,551 )      —       1,089,884  
FY21
     878,122       (212,218 )      (66,245 )      561,400       377,848       337,754       —       1,876,659  
 
(4)
Company TSR assumes an initial $100 investment in Lindsay Corporation stock beginning on August 31, 2020. Company TSR is cumulative, with the value determined at the end of each applicable fiscal year, calculated in accordance with Item 201(e) of Regulation
S-K,
as modified by the pay versus performance proxy rules adopted by the SEC under the Dodd-Frank Act.
 
(5)
The peer group for the purposes of this pay versus performance disclosure is the S&P 600 Construction Machinery & Heavy Transportation Equipment Index, which is used by the Company for purposes of compliance with Item 201(e) of Regulation
S-K.
Peer Group Index TSR is calculated in accordance with Item 201(e) of Regulation
S-K,
as modified by the pay versus performance proxy rules adopted by the SEC under the Dodd-Frank Act.
 
(6)
The SEC requires disclosure of a Company-selected measure. The Company-selected measure for fiscal 2024 is ROIC, which is calculated in the following manner for each fiscal year:
     
Company Selected Measure Name ROIC      
Named Executive Officers, Footnote
(1)
Mr. Wood succeeded Timothy L. Hassinger as PEO on January 1, 2021; each was a PEO for part of fiscal 2021. Mr. Wood was PEO for the entirety of fiscal 2022, fiscal 2023, and fiscal 2024.
 
(2)
Other NEOs were Messrs. Ketcham, Oberto, and Marion for each of the reported fiscal years.
     
Peer Group Issuers, Footnote
(5)
The peer group for the purposes of this pay versus performance disclosure is the S&P 600 Construction Machinery & Heavy Transportation Equipment Index, which is used by the Company for purposes of compliance with Item 201(e) of Regulation
S-K.
Peer Group Index TSR is calculated in accordance with Item 201(e) of Regulation
S-K,
as modified by the pay versus performance proxy rules adopted by the SEC under the Dodd-Frank Act.
     
Adjustment To PEO Compensation, Footnote
   
SCT Total
Compensation
 
    
 
Less Equity Amounts
Reported in SCT
    
Plus Fair
Value of
Equity
Awards
Granted
During the
Fiscal Year
 
    
Change in
Fair Value
From Prior
Fiscal Year
of Unvested
and
Outstanding
Awards
 
    
Change in
Fair Value
From Prior
Fiscal Year
for Awards
Vesting in
the Fiscal
Year
 
    
Fair Value
of Awards as
of the Prior
Fiscal Year
that Failed
to Meet
Vesting
Conditions
During the
Year
 
    
Compensation
Actually Paid
 
  
($)
 
  
Stock
 Awards 
 
    
 Options 
 
  
PEO (Wood)
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
FY24
     3,650,302       (1,658,702 )      (499,996 )      1,816,249       (528,357 )      (47,733 )      —       2,731,764  
FY23
     3,859,697       (1,536,658 )      (481,223 )      1,776,897       (1,370,685 )      (727,799 )      —       1,520,230  
FY22
     3,567,631       (1,311,505 )      (436,696 )      1,735,808       371,558       (116,038 )      —       3,810,758  
FY21
     2,203,151       (826,466 )      (264,114 )      1,870,315       603,291       658,846       —       4,245,023  
PEO (Hassinger)
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
FY21
     4,820,110       (1,720,411 )      (549,891 )      6,758,957       3,465,209       152,744       —       12,926,718  
Average of
Non-PEO
NEOs
 
FY24
     1,063,089       (331,612 )      (99,967 )      363,093       (102,278 )      (8,361 )      —       883,965  
FY23
     1,131,911       (305,863 )      (95,826 )      353,726       (353,397 )      (304,644 )      —       425,907  
FY22
     964,640       (209,376 )      (68,674 )      289,147       170,698       (56,551 )      —       1,089,884  
FY21
     878,122       (212,218 )      (66,245 )      561,400       377,848       337,754       —       1,876,659  
     
Non-PEO NEO Average Total Compensation Amount $ 1,063,089 $ 1,131,911 $ 964,640 $ 878,122
Non-PEO NEO Average Compensation Actually Paid Amount $ 883,965 425,907 1,089,884 1,876,659
Adjustment to Non-PEO NEO Compensation Footnote
   
SCT Total
Compensation
 
    
 
Less Equity Amounts
Reported in SCT
    
Plus Fair
Value of
Equity
Awards
Granted
During the
Fiscal Year
 
    
Change in
Fair Value
From Prior
Fiscal Year
of Unvested
and
Outstanding
Awards
 
    
Change in
Fair Value
From Prior
Fiscal Year
for Awards
Vesting in
the Fiscal
Year
 
    
Fair Value
of Awards as
of the Prior
Fiscal Year
that Failed
to Meet
Vesting
Conditions
During the
Year
 
    
Compensation
Actually Paid
 
  
($)
 
  
Stock
 Awards 
 
    
 Options 
 
  
PEO (Wood)
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
FY24
     3,650,302       (1,658,702 )      (499,996 )      1,816,249       (528,357 )      (47,733 )      —       2,731,764  
FY23
     3,859,697       (1,536,658 )      (481,223 )      1,776,897       (1,370,685 )      (727,799 )      —       1,520,230  
FY22
     3,567,631       (1,311,505 )      (436,696 )      1,735,808       371,558       (116,038 )      —       3,810,758  
FY21
     2,203,151       (826,466 )      (264,114 )      1,870,315       603,291       658,846       —       4,245,023  
PEO (Hassinger)
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
    
 
  
 
  
 
FY21
     4,820,110       (1,720,411 )      (549,891 )      6,758,957       3,465,209       152,744       —       12,926,718  
Average of
Non-PEO
NEOs
 
FY24
     1,063,089       (331,612 )      (99,967 )      363,093       (102,278 )      (8,361 )      —       883,965  
FY23
     1,131,911       (305,863 )      (95,826 )      353,726       (353,397 )      (304,644 )      —       425,907  
FY22
     964,640       (209,376 )      (68,674 )      289,147       170,698       (56,551 )      —       1,089,884  
FY21
     878,122       (212,218 )      (66,245 )      561,400       377,848       337,754       —       1,876,659  
     
Compensation Actually Paid vs. Total Shareholder Return
LOGO
     
Compensation Actually Paid vs. Net Income
LOGO
     
Compensation Actually Paid vs. Company Selected Measure
LOGO
     
Total Shareholder Return Vs Peer Group
LOGO
     
Tabular List, Table
In accordance with the pay versus performance rules adopted by the
SEC
under
the Dodd-Frank Act, the Company sets forth below the most important financial measures it used to link pay to performance for fiscal 2024.
 
 
•
  
ROIC
 
 
•
  
Revenue
 
 
•
  
Operating margin
 
 
•
  
Free cash flow
     
Total Shareholder Return Amount $ 129.13 127.7 163.38 166.3
Peer Group Total Shareholder Return Amount 214.76 168.07 122.66 127.44
Net Income (Loss) $ 66,300,000 $ 72,400,000 $ 65,500,000 $ 42,600,000
Company Selected Measure Amount 0.11 0.134 0.148 0.104
Measure:: 1        
Pay vs Performance Disclosure        
Name ROIC      
Measure:: 2        
Pay vs Performance Disclosure        
Name Revenue      
Measure:: 3        
Pay vs Performance Disclosure        
Name Operating margin      
Measure:: 4        
Pay vs Performance Disclosure        
Name Free cash flow      
Mr. Wood [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 3,650,302 $ 3,859,697 $ 3,567,631 $ 2,203,151
PEO Actually Paid Compensation Amount $ 2,731,764 1,520,230 3,810,758 4,245,023
PEO Name Mr. Wood      
Timothy L Hassinger [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount       4,820,110
PEO Actually Paid Compensation Amount       12,926,718
PEO Name Timothy L. Hassinger      
PEO | Mr. Wood [Member] | Equity Amounts Reported Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (1,658,702) (1,536,658) (1,311,505) (826,466)
PEO | Mr. Wood [Member] | Equity Amounts Reported Options [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (499,996) (481,223) (436,696) (264,114)
PEO | Mr. Wood [Member] | Fair Value of Equity Awards Granted During the Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,816,249 1,776,897 1,735,808 1,870,315
PEO | Mr. Wood [Member] | Change in Fair Value From Prior Fiscal Year of Unvested and Outstanding Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (528,357) (1,370,685) 371,558 603,291
PEO | Mr. Wood [Member] | Change in Fair Value From Prior Fiscal Year for Awards Vesting in the Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (47,733) (727,799) (116,038) 658,846
PEO | Timothy L Hassinger [Member] | Equity Amounts Reported Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       (1,720,411)
PEO | Timothy L Hassinger [Member] | Equity Amounts Reported Options [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       (549,891)
PEO | Timothy L Hassinger [Member] | Fair Value of Equity Awards Granted During the Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       6,758,957
PEO | Timothy L Hassinger [Member] | Change in Fair Value From Prior Fiscal Year of Unvested and Outstanding Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       3,465,209
PEO | Timothy L Hassinger [Member] | Change in Fair Value From Prior Fiscal Year for Awards Vesting in the Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       152,744
Non-PEO NEO | Equity Amounts Reported Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (331,612) (305,863) (209,376) (212,218)
Non-PEO NEO | Equity Amounts Reported Options [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (99,967) (95,826) (68,674) (66,245)
Non-PEO NEO | Fair Value of Equity Awards Granted During the Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 363,093 353,726 289,147 561,400
Non-PEO NEO | Change in Fair Value From Prior Fiscal Year of Unvested and Outstanding Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (102,278) (353,397) 170,698 377,848
Non-PEO NEO | Change in Fair Value From Prior Fiscal Year for Awards Vesting in the Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (8,361) $ (304,644) $ (56,551) $ 337,754