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Equity Compensation Plans (Tables)

12 Months Ended

May 31, 2018

Stock Option Activity

Qualified and non-qualified options to purchase shares of common stock may be granted to directors, officers and employees of Neogen under the terms of our stock option plans. These options are granted at an exercise price of not less than the fair market value of the stock on the date of grant. Remaining shares available for grant under stock option plans were 1,913,000, 2,525,000 and 3,276,000 at May 31, 2018, 2017 and 2016, respectively. Options vest ratably over three and five-year periods and the contractual terms are generally five or ten years.

(options in thousands)		Options				Weighted-Average Exercise Price				Weighted-Average Grant Date Fair  Value
Outstanding at May 31, 2015 (852 exercisable)			2,651				23.29				6.90
Granted			732				35.23				9.83
Exercised			(569	)			17.60				5.36
Forfeited			(39	)			28.93				8.36
Outstanding at May 31, 2016 (875 exercisable)			2,775				27.53				7.97
Granted			828				40.68				11.89
Exercised			(827	)			22.82				6.77
Forfeited			(77	)			32.04				9.17
Outstanding at May 31, 2017 (661 exercisable)			2,699				32.88				9.51
Granted			829				59.37				14.47
Exercised			(821	)			28.18				8.20
Forfeited			(208	)			39.57				11.12
Outstanding at May 31, 2018 (508 exercisable)			2,499				42.63				11.44

Summary of Stock Options Outstanding

The following is a summary of stock options outstanding at May 31, 2018:

(options in thousands)		Options Outstanding												Options Exercisable
Range of Exercise Price		Number				Average Contractual Life (in years)				Weighted-Average Exercise Price				Number				Weighted-Average Exercise Price
$8.27 - $30.03			515				1.5			$	27.08				226			$	24.78
$30.04 - $37.26			522				3.2				34.84				179				34.00
$37.27 - $40.91			619				3.8				40.45				90				40.44
$40.92 - $59.78			173				6.0				50.85				13				42.19
$59.79 - $68.96			670				4.5				60.55				—				—
		2,499				3.5				42.63				508				31.23

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

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- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

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