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Lindsay Corporation (NYSE:LNN), an agricultural equipment manufacturer with a market capitalization of $1.27 billion and annual revenue of $678 million, reported changes to its executive leadership and compensation structure, according to a statement filed with the U.S. Securities and Exchange Commission.
The company’s Human Resources and Compensation Committee adopted a Management Incentive Plan for the fiscal year ending August 31, 2026. The plan allows senior officers to earn annual cash incentive awards based on company and individual performance criteria. Target bonuses for participating officers will range from 40% to 100% of base salary. Actual awards may vary from 0% to 200% of the target, depending on performance. The plan weights company financial performance at 80% and individual performance at 20%. Company financial metrics include revenue, operating margin percentage, and free cash flow, benchmarked against the fiscal 2026 operating budget.
The filing also disclosed that Brian Ketcham, Senior Vice President and Chief Financial Officer, will retire at the end of the calendar year. Sam Hinrichsen will join Lindsay Corporation as Senior Vice President on November 3 and will succeed Mr. Ketcham as Chief Financial Officer upon his retirement. Mr. Hinrichsen will become a participant in the 2026 Management Incentive Plan along with other senior officers, except for Mr. Ketcham.
Lindsay Corporation, headquartered in Omaha, Nebraska, is listed on the New York Stock Exchange under the ticker NYSE:LNN.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Lindsay Corporation reported its fourth-quarter 2025 earnings, revealing a miss on earnings per share (EPS) forecasts. The company posted an EPS of $0.99, falling short of the expected $1.15, with a revenue of $153.6 million, which was slightly below the forecast of $156.91 million. Despite a revenue beat driven by deliveries on a large international irrigation project, earnings were impacted by infrastructure margin and corporate expense issues. Following these financial results, Stifel adjusted its price target for Lindsay Corporation, lowering it to $122 from $136 while maintaining a Hold rating on the stock. These developments reflect the company’s current financial challenges and market reactions.
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