KEQUNasdaq

KEWAUNEE SCIENTIFIC CORP /DE/

Laboratory Apparatus & Furniture · DE · CIK 55529

Designs, manufactures, and installs laboratory, healthcare, and technical furniture and infrastructure products

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$105M

Market cap

$34.80

Last close

-2.9%

-6.1%

12K

Volume

Price · last 38 sessions-6.4%

May 5L $34.00 · H $41.20Jun 29

341

Total filings

Jun 26, 2026

Last filing

04/30

Fiscal year end

All 8-K · 201 10-Q · 70 10-K · 24 DEF 14A · 23 DEFA14A · 7 SC 13G · 7 SC 13D · 4 10-Q/A · 3

Insider Activity

In the 90 days to Jan 7, 2026: 2 sold $421K.

Date	Insider	Action	Shares	Price	Value
Jan 7, 2026	Hull Thomas David IiiPresident, CEO	Sell	2,177	$37.50	$82K
Jan 6, 2026	Gardner Donald T. IiiChief Financial Officer	Sell	2,000	$37.57	$75K
Dec 31, 2025	Hull Thomas David IiiPresident, CEO	Sell	629	$37.66	$24K
Dec 30, 2025	Hull Thomas David IiiPresident, CEO	Sell	29	$38.00	$1K
Dec 29, 2025	Hull Thomas David IiiPresident, CEO	Sell	884	$38.01	$34K
Dec 22, 2025	Hull Thomas David IiiPresident, CEO	Sell	1,000	$39.00	$39K
Dec 17, 2025	Hull Thomas David IiiPresident, CEO	Sell	1,000	$39.00	$39K
Oct 9, 2025	Gardner Donald T. IiiChief Financial Officer	Sell	3,000	$42.76	$128K
Oct 2, 2025	Phillips Elizabeth DVP - Human Resources	Sell	6,877	$43.20	$297K
Oct 2, 2025	Phillips Elizabeth DVP - Human Resources	Sell	3	$44.20	$133
Oct 1, 2025	Hull Thomas David IiiPresident, CEO	Sell	1,000	$43.09	$43K
Sep 29, 2025	Hull Thomas David IiiPresident, CEO	Sell	1,854	$43.42	$81K

Open-market buys & sells (Form 4, transaction codes P/S). Source: SEC structured insider data.

What Changed

Risk factors · Jun 28, 2024 → Jul 2, 2025

53 added · 10 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.

Newly disclosed

Costs associated with the acquisition have included and may include in the future significant transaction, consulting, and third-party service fees as we build up internal resources and/or engage third party providers as part of the integration of Nu Aire into our operations.
Further, because Nu Aire was a private company and was not subject to the requirements of Sarbanes-Oxley, the Nu Aire acquisition requires or will require us to incorporate additional internal controls for the acquired company, which may be difficult, costly, and time-consuming.
Although management will continue to review and evaluate the effectiveness of our internal controls in light of this acquisition, we cannot provide any assurances that there will be no significant deficiencies or material weaknesses in our internal control over financial reporting.
Our reported financial condition and results of operations reflect the balances and results of the acquired business but are not restated retroactively to reflect the historical financial position or results of operations of the acquired business for periods prior to the acquisition.
In additional, there can be no guarantee that acquired intangible assets, particularly in-process research and development, will generate revenues or profits that we include in our forecast that is the basis for their fair value as of the acquisition date.
Any such impairment charges relating to goodwill or other intangible assets could have a material impact on our operating results in future periods, and the announcement of a material impairment could have a material adverse effect on the trading price and trading volume of our common stock.
Under the acquisition method of accounting, the total purchase price is allocated to net tangible assets and identifiable intangible assets of acquired businesses based on their fair values as of the date of completion of the acquisition.
We have recently acquired Nu Aire, which was not subject to rules and regulations promulgated under the Sarbanes-Oxley Act of 2002, as amended ("Sarbanes-Oxley"), and may therefore lack the internal controls that would be required of a U.S. public company, which could ultimately affect our ability to ensure compliance with the requirements of Section 404 of Sarbanes-Oxley.
The new tariffs and other changes in U.S. trade policy during the first half of calendar year 2025 have triggered retaliatory actions by affected countries, and foreign governments have instituted or are considering imposing tariffs and trade sanctions.
Our assessment of and conclusion on the effectiveness of our internal control over financial reporting as of April 30, 2025 does not include consideration of the controls of Nu Aire, which was acquired on November 1, 2024.
The success of this acquisition will depend, in part, on our ability to realize the anticipated business opportunities and growth prospects from combining Nu Aire with our existing business.
We account for business acquisitions as business combinations under the acquisition method of accounting in accordance with accounting principles generally accepted in the United States.

No longer disclosed

In response to the military conflict between Russia and Ukraine that began in February 2022, the United States and other North Atlantic Treaty Organization member states, as well as non-member states, announced targeted economic sanctions on Russia.
The implementation of these investments may be more costly or take longer than we anticipate, or could otherwise adversely affect our business operations, which could negatively impact our financial position, results of operations or cash flows.
If we are unable to manufacture our products consistently, in sufficient quantities, and on a timely basis, our revenues, gross margins, and our other operating results will be materially and adversely affected. 7 Table of Contents Disruptions in the financial markets have historically created, and may continue to create, uncertainty in economic conditions that may adversely affect our customers and our business.
The long-term impact on our business resulting from the disruption of trade in the region caused by the conflict and associated sanctions and boycotts is uncertain at this time due to the fluid nature of the ongoing military conflict and response.
The potential impacts include supply chain and logistics disruptions, financial impacts including volatility in foreign exchange and interest rates, increased inflationary pressure on raw materials and energy, and other risks, including an elevated risk of cybersecurity threats and the potential for further sanctions.
We cannot guarantee that our share repurchase program will enhance long-term stockholder value, or that it will successfully mitigate the dilutive effect of employee equity awards.
Expectations related to environmental, social, and governance ("ESG") considerations could expose us to potential liabilities, increased costs, and reputational harm.
We do not undertake to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.
Risks Specific to our Company If we lose a large customer, our sales and profits would decline.
Our future growth may depend on our ability to penetrate new international markets.

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