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Equity Compensation Plans (Tables)

12 Months Ended

May 31, 2019

Stock Option Activity

Incentive and non-qualified options to purchase shares of common stock may be granted to directors, officers and employees of Neogen under the terms of the Company’s 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 3,997,000, 1,913,000 and 2,525,000 at May 31, 2019, 2018 and 2017, 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, 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
Granted			527				62.92				14.91
Exercised			(513	)			31.28				8.92
Forfeited			(128	)			47.08				12.42
Outstanding at May 31, 2019 (617 exercisable)			2,385				49.37				12.70

Summary of Stock Options Outstanding

The following is a summary of stock options outstanding at May 31, 2019:

Range of Exercise Price		Number				(in years)				Exercise Price				Number				Exercise Price
$10.17 - $37.26			575				1.7			$	32.07				290			$	30.62
$37.27 - $40.91			492				2.8				40.45				147				40.44
$40.92 - $59.78			172				4.0				51.03				54				49.19
$59.79 - $61.56			614				3.5				60.43				124				60.43
$61.57 - $68.96			532				4.5				63.03				2				68.36
			2,385				3.2				49.37				617				40.68

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options Intrinsic Value

		Year Ended
(in thousands)		May 31, 2019				May 31, 2018				May 31, 2017
Aggregate intrinsic value of options outstanding		$	22,798			$	82,649			$	39,388
Aggregate intrinsic value of options exercisable		$	10,222			$	22,572			$	13,929
Aggregate intrinsic value of options exercised		$	21,382			$	25,844			$	18,067

X

- Definition

Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year.

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