Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________ FORM 10-K __________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 KEWAUNEE SCIENTIFIC CORPORATION (Exact name of reg ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 or Registrant's telephone number, including area code: (704) 873-7202 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Exchange on which registered Common Stock, $2.50 par value KEQU ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 _________________________ KEWAUNEE SCIENTIFIC CORPORATION (E ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 _________________________ Registrant's telephone number, includ ...

Sales Performance - Sales for fiscal year 2022 were $168.9 million, an increase of 14.2% from $147.5 million in fiscal year 2021[68] - Domestic sales increased to $126.9 million in fiscal year 2022, up from $111.0 million in fiscal year 2021, driven by higher volumes and price increases[68] - International sales rose to $42.0 million in fiscal year 2022, a 15.3% increase from $36.5 million in fiscal year 2021, primarily due to strong demand in India[68] - Net sales for fiscal year 2022 were $168.872 million, a 14.5% increase from $147.469 million in fiscal year 2021[104] - The company’s subsidiaries contributed net sales of $42.024 million in 2022, up from $36.434 million in 2021, an increase of 15.5%[115] - The company reported net sales of $49,715,000 in the fourth quarter of fiscal year 2022, which was an increase from $38,707,000 in the fourth quarter of fiscal year 2021, representing a growth of about 28.5%[217] Financial Losses - Net loss for fiscal year 2022 was $6.1 million, or $2.20 per diluted share, compared to a net loss of $3.7 million, or $1.33 per diluted share, in fiscal year 2021[77] - The company reported a net loss of $6.126 million for fiscal year 2022, compared to a net loss of $3.672 million in fiscal year 2021, resulting in a net loss per share of $2.20[104] - The company experienced a comprehensive loss of $6.291 million in fiscal year 2022, compared to a comprehensive income of $2.349 million in fiscal year 2021[106] - The net loss attributable to Kewaunee Scientific Corporation for fiscal year 2022 was $6,126,000, compared to a net loss of $3,672,000 in fiscal year 2021, representing a deterioration of 66.8%[215] Operating Expenses - Operating expenses increased to $26.8 million in fiscal year 2022 from $25.3 million in fiscal year 2021, representing 15.9% of sales[71] - Operating expenses increased to $26.828 million in fiscal year 2022, up from $25.309 million in fiscal year 2021[104] - The company incurred $28,000 in operating expenses related to the closure of its China subsidiary during fiscal year 2022[216] Cash Flow and Capital Expenditures - Cash used in operating activities was $7.9 million in fiscal year 2022, primarily due to increases in inventories and receivables[82] - Capital expenditures were $1.9 million in fiscal year 2022, with an anticipated increase to approximately $3.5 million in fiscal year 2023[87] - Capital expenditures for the year were $1.908 million, down from $2.397 million in 2021, reflecting a decrease of 20.4%[112] Tax and Deferred Tax - Income tax expense for fiscal year 2022 was $3.5 million, significantly higher than $990,000 in fiscal year 2021, reflecting changes in deferred taxes[75] - The Company recorded a net income tax expense of $3,518,000 for the year ended April 30, 2022, compared to $990,000 for the previous year[185] - Deferred tax assets increased to $11,462,000 in 2022 from $5,754,000 in 2021, primarily due to the inclusion of proceeds on Sale Leaseback[186] Assets and Liabilities - Total assets increased to $118.773 million in 2022 from $89.384 million in 2021, representing a growth of 32.8%[111] - Current assets rose to $91.565 million in 2022, up from $60.457 million in 2021, marking an increase of 51.5%[111] - Total liabilities increased to $82.593 million in 2022 from $47.897 million in 2021, a rise of 72.5%[111] - Working capital increased to $49.3 million as of April 30, 2022, up from $26.3 million a year earlier, with a current assets to current liabilities ratio of 2.2-to-1.0[88] Inventory and Receivables - Accounts receivable increased to $41.254 million in 2022 from $32.882 million in 2021, reflecting a rise of 25.5%[111] - Inventories grew significantly to $23.796 million in 2022, compared to $16.517 million in 2021, an increase of 43.9%[111] - Total inventories increased to $23.796 million in 2022 from $16.517 million in 2021, with finished goods rising from $2.988 million to $4.555 million[163] Strategic Focus and Future Outlook - The company believes its record backlog and improved operating performance position it well for the next fiscal year despite economic uncertainties[92] - The company is focused on changes in its go-to-market strategy and continued investment in manufacturing operations to enhance future performance[92] Stock and Compensation - The Company granted 67,750 RSUs in fiscal year 2022, compared to 95,861 RSUs in fiscal year 2021[145] - The Company recorded stock-based compensation expense of $701,000 in fiscal year 2022, an increase from $578,000 in fiscal year 2021[191] - The Company had 144,827 RSUs outstanding at the end of fiscal year 2022, with a weighted average grant date fair value of $12.24[193] Pension and Lease Obligations - The total minimum lease payments for operating leases are projected to be $8,821,000 for the fiscal year ending April 30, 2023[202] - The total operating lease expense for the fiscal year ended April 30, 2022, was $3,067,000, up from $2,854,000 in 2021[200] - The Company expects no contributions to the pension plans during fiscal year 2023, having made $30,000 in contributions in fiscal year 2021[206]

Sales Performance - Sales for the quarter were $40,633,000, an increase of 21.8% from $33,339,000 in the comparable period of the prior year [55]. - Domestic sales for the quarter were $29,531,000, up 17.8% from $25,066,000 in the comparable period of the prior year, positively impacted by $2,956,000 of raw material surcharges [55]. - International sales for the quarter were $11,102,000, up 34.2% from $8,273,000 in the comparable period of the prior year, driven by strong demand and delayed billings [55]. Profitability and Expenses - The gross profit margin for the three months ended January 31, 2022 was 13.8%, down from 17.0% in the comparable quarter of the prior year, due to supply chain disruptions and increased raw material costs [58]. - Operating expenses for the three months ended January 31, 2022 were $6,490,000, or 16.0% of sales, compared to $6,030,000, or 18.1% of sales in the prior year [59]. - Net loss for the three months ended January 31, 2022 was $1,319,000, or $(0.47) per diluted share, compared to net earnings of $81,000, or $0.03 per diluted share in the prior year [64]. Order Backlog and Working Capital - The Company's order backlog was $138.1 million at January 31, 2022, compared to $103.0 million at January 31, 2021 [57]. - The Company had working capital of $21,412,000 at January 31, 2022, down from $26,276,000 at April 30, 2021 [66]. Future Outlook - The Company expects improved financial performance through the remainder of this fiscal year and into fiscal year 2023, driven by project awards and manufacturing capacity expansion [72]. - The Company continues to monitor the impact of COVID-19 and its potential effects on operations and financial performance [69].

Sales Performance - Sales for the quarter were $39,031,000, relatively flat from $39,000,000 in the comparable period of the prior year[57] - Domestic sales for the quarter were $29,934,000, up 4.0% from $28,772,000 in the comparable period of the prior year[57] - International sales for the quarter were $9,097,000, down 11.1% from $10,228,000 in the comparable period of the prior year[57] Financial Position - The Company's order backlog was $139.7 million at October 31, 2021, the highest in its history, compared to $96.0 million at October 31, 2020[59] - The Company had working capital of $23,049,000 at October 31, 2021, down from $26,276,000 at April 30, 2021[67] Profitability - The gross profit margin for the three months ended October 31, 2021 was 9.2%, down from 16.4% in the comparable quarter of the prior year[60] - Net loss was $3,100,000, or $(1.11) per diluted share, for the three months ended October 31, 2021, compared to a net loss of $180,000, or $(0.07) per diluted share, in the prior year period[65] Future Outlook - The Company expects improved financial performance in the second half of the fiscal year and into fiscal year 2023[73] Tax Information - The effective income tax rates for the three and six months ended October 31, 2021 were (6.8)% and (11.3)%, compared to 54.4% and 18.5% for the comparable periods of the prior year[63] Cash Flow - The Company used cash of $6,071,000 during the six months ended October 31, 2021 primarily for operations and increases in receivables[69]

Financial Performance - Net sales for the three months ended July 31, 2021, were $39,493,000, an increase of 8.5% compared to $36,423,000 for the same period in 2020[10] - Gross profit for the same period was $5,674,000, a decrease of 3.5% from $5,881,000 in 2020[10] - The net loss attributable to Kewaunee Scientific Corporation for the three months ended July 31, 2021, was $1,345,000, compared to a net loss of $598,000 in 2020, representing a 125% increase in loss[10] - Basic and diluted net loss per share attributable to Kewaunee Scientific Corporation stockholders was $(0.48) for the three months ended July 31, 2021, compared to $(0.22) in 2020[10] - The company reported a comprehensive loss attributable to Kewaunee Scientific Corporation of $1,421,000 for the three months ended July 31, 2021, compared to a comprehensive loss of $611,000 in 2020[14] - Operating loss for the three months ended July 31, 2021, was $(1,091,000), compared to $(276,000) in the same period of 2020, reflecting a significant increase in operating losses[10] - Total revenues for the quarter were $39,493,000, an 8.4% increase from $36,423,000 in the prior year[58] - Net loss for the quarter was $1,345,000, or $(0.48) per diluted share, compared to a net loss of $598,000, or $(0.22) per diluted share in the prior year[65] Assets and Liabilities - Total current assets increased to $61,969,000 as of July 31, 2021, from $60,457,000 as of April 30, 2021, reflecting a growth of 2.5%[20] - Total assets as of July 31, 2021, were $90,299,000, up from $89,384,000 as of April 30, 2021, indicating a 1% increase[20] - Total liabilities increased to $49,959,000 as of July 31, 2021, compared to $47,897,000 as of April 30, 2021, marking a 4.3% rise[20] - Cash, cash equivalents, and restricted cash at the end of the period were $5,467,000, a decrease from $5,731,000 at the beginning of the period[22] - The company had outstanding advances of $8.9 million under its revolving credit facility as of July 31, 2021, an increase from $6.8 million at April 30, 2021[38] Revenue Breakdown - Domestic revenue for the three months ended July 31, 2021, was $29,663,000, compared to $30,058,000 in 2020, indicating a decline of about 1.3%[33] - International revenue for the three months ended July 31, 2021, was $9,830,000, up from $6,365,000 in 2020, reflecting a significant increase of approximately 54.5%[33] - Domestic sales decreased by 1.3% to $29,663,000, while international sales increased by 54.4% to $9,830,000[58] Inventory and Contract Assets - Total inventory as of July 31, 2021, was $17,852,000, an increase from $16,517,000 at April 30, 2021, representing a growth of approximately 8.1%[35] - Contract assets increased to $8,677,000 at July 31, 2021, from $6,929,000 at April 30, 2021, while contract liabilities decreased to $2,555,000 from $3,123,000 in the same period[34] - The company expects to recognize approximately 100% of the contract liability balances as revenue during the succeeding 12 months from both April 30, 2021, and July 31, 2021[34] Operating Expenses and Tax - Operating expenses increased to $6,765,000, or 17.1% of sales, compared to $6,157,000, or 16.9% of sales in the prior year[61] - Income tax expense for the three months ended July 31, 2021, was $251,000, significantly higher than $21,000 for the same period in 2020, resulting in an effective tax rate of (23.8)% compared to (3.6)%[48] - The effective income tax rate for the quarter was (23.8)%, compared to (3.6)% in the prior year, reflecting increased international operations[63] Future Outlook - The company anticipates project awards will accelerate as the economy reopens, despite short-term impacts from rising raw material prices[73] - The company plans to implement surcharges on new orders to offset broad-based price increases for materials[73] Stock-Based Compensation - The company recorded stock-based compensation expense of $194,000 for the three months ended July 31, 2021, compared to $59,000 for the same period in 2020, indicating an increase of approximately 228.8%[46] Order Backlog - The order backlog was $120.6 million at July 31, 2021, up from $101.2 million at July 31, 2020[59] Gross Profit Margin - Gross profit margin for the quarter was 14.4%, down from 16.1% in the prior year, due to increased raw material costs[60] Cash Flow - The company used cash of $1,776,000 in operations during the quarter, primarily due to increases in receivables and inventory[69]

PART I [Business](index=4&type=section&id=Item%201.%20Business) Kewaunee Scientific Corporation designs, manufactures, and installs laboratory, healthcare, and technical furniture products for diverse markets, managing risks from cost increases and customer concentration - The company's principal business is the design, manufacture, and installation of laboratory, healthcare, and technical furniture products, including steel, wood, and laminate furniture, fume hoods, and biological safety cabinets[10](index=10&type=chunk) - Sales to two domestic dealers and a national distributor accounted for approximately **40%** of total sales in fiscal year 2021, indicating significant customer concentration[15](index=15&type=chunk) Order Backlog Comparison | Date | Order Backlog (in millions) | | :--- | :--- | | April 30, 2021 | $114.5 | | April 30, 2020 | $100.9 | Research and Development Expenses | Fiscal Year | R&D Expense (in thousands) | | :--- | :--- | | 2021 | $1,406 | | 2020 | $1,816 | [Risk Factors](index=5&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including financial market disruptions, intense competition, customer concentration, volatile raw material costs, international expansion challenges, cybersecurity threats, and ongoing impacts from the COVID-19 pandemic - The company faces significant risk from customer concentration, as combined sales to two dealers and a national stocking distributor accounted for approximately **40%** of sales in fiscal year 2021[30](index=30&type=chunk) - Profitability is at risk from increases in raw material (steel, wood, epoxy resin) and energy costs, as prices are normally quoted on a firm basis for future delivery, placing the burden of cost increases on the company[31](index=31&type=chunk) - The COVID-19 pandemic poses a continuing risk, potentially causing declines in business activity, supply chain disruptions, and negative impacts on the health of personnel, which could adversely affect business operations and financial results[45](index=45&type=chunk)[48](index=48&type=chunk) - Cybersecurity incidents are a significant risk, as a breach could compromise sensitive data, damage the company's reputation, and lead to operational interruptions, litigation, or potential liability[38](index=38&type=chunk)[39](index=39&type=chunk) - International operations, which accounted for **26%** of revenues in fiscal year 2021, expose the company to risks such as political instability, currency fluctuations, and changes in trade regulations[51](index=51&type=chunk) [Properties](index=11&type=section&id=Item%202.%20Properties) The company operates through owned manufacturing facilities and corporate offices in Statesville, North Carolina, totaling **413,000 square feet**, and leased distribution, manufacturing, and sales offices globally - The company owns and operates three adjacent manufacturing facilities in Statesville, North Carolina, comprising **413,000 square feet**, which also house its corporate offices[52](index=52&type=chunk) - Key leased properties include **365,000 square feet** of distribution and warehouse space in Statesville, NC, and an **83,000 square foot** manufacturing facility in Bangalore, India[52](index=52&type=chunk) [Legal Proceedings](index=11&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in ordinary course legal disputes, which management believes will not materially adversely affect its financial condition or operations - The company believes that any currently pending legal proceedings, which arise in the ordinary course of business, will not have a material adverse effect on its financial results or condition[53](index=53&type=chunk) [Mine Safety Disclosures](index=11&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[54](index=54&type=chunk) PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=12&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on the NASDAQ Global Market under the symbol KEQU, with no dividends paid in fiscal year 2021 following a suspension in December 2019 - The company's common stock is traded on the NASDAQ Global Market under the symbol KEQU[57](index=57&type=chunk) Quarterly Stock Price (KEQU) | Fiscal Year | Quarter | High | Low | | :--- | :--- | :--- | :--- | | **2021** | Q1 | $11.10 | $8.50 | | | Q2 | $11.35 | $8.20 | | | Q3 | $13.45 | $8.08 | | | Q4 | $13.43 | $11.99 | | **2020** | Q1 | $23.00 | $16.18 | | | Q2 | $18.20 | $15.06 | | | Q3 | $19.57 | $12.30 | | | Q4 | $12.80 | $6.96 | - On December 16, 2019, the Board of Directors suspended the company's dividend. No cash dividends were paid in fiscal year 2021, whereas **$0.38 per share** was paid in fiscal year 2020[58](index=58&type=chunk) [Selected Financial Data](index=13&type=section&id=Item%206.%20Selected%20Financial%20Data) This section summarizes key historical consolidated financial data, showing **$147.5 million** in net sales for fiscal year 2021, a net loss of **$3.7 million**, and total assets increasing to **$89.4 million** Selected Operating Statement Data (in thousands, except per share amounts) | Metric | FY 2021 | FY 2020 | | :--- | :--- | :--- | | Net sales | $147,469 | $147,540 | | Gross profit | $23,993 | $23,427 | | Operating loss | $(1,316) | $(2,345) | | Net loss attributable to Kewaunee | $(3,672) | $(4,687) | | Basic Net loss per share | $(1.33) | $(1.70) | | Diluted Net loss per share | $(1.33) | $(1.70) | | Cash dividends per share | $— | $0.38 | Selected Balance Sheet Data (as of April 30, in thousands) | Metric | 2021 | 2020 | | :--- | :--- | :--- | | Total assets | $89,384 | $83,929 | | Total borrowings/long-term debt | $16,148 | $13,913 | | Kewaunee Stockholders' equity | $41,241 | $38,415 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=14&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Net sales remained flat at **$147.5 million** in fiscal year 2021, with domestic sales decreasing and international sales growing, leading to a narrowed net loss of **$3.7 million** despite higher raw material costs, while liquidity is expected to be sufficient Fiscal Year Sales Performance (in millions) | Segment | FY 2021 | FY 2020 | Change | | :--- | :--- | :--- | :--- | | Domestic Sales | $111.0 | $115.1 | -3.5% | | International Sales | $36.4 | $32.4 | +12.3% | | **Total Sales** | **$147.5** | **$147.5** | **~0%** | - Gross profit margin increased to **16.3%** in FY2021 from **15.9%** in FY2020, driven by improved domestic operating performance and a favorable product mix, which offset higher raw material costs[78](index=78&type=chunk) - Operating expenses decreased to **$25.3 million** in FY2021 from **$25.8 million** in FY2020, primarily due to reductions in salaries, bad debt expense, and travel, partially offset by increased incentive compensation[79](index=79&type=chunk) - Net loss for FY2021 was **$3.7 million** (**$1.33 per diluted share**), an improvement from a net loss of **$4.7 million** (**$1.70 per diluted share**) in FY2020[84](index=84&type=chunk) - Operating activities provided **$0.9 million** in cash in FY2021, a decrease from **$4.2 million** in FY2020. The company's working capital decreased to **$26.3 million** from **$27.2 million** year-over-year[87](index=87&type=chunk)[92](index=92&type=chunk) - The company anticipates that project awards and construction pace will accelerate as the economy re-opens, but escalating raw material pricing will unfavorably impact near-term earnings on fixed-price contracts[98](index=98&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=18&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks primarily from interest rates on its floating-rate debt and foreign currency exchange rates due to international operations, with **25%** of fiscal year 2021 net sales in non-U.S. dollar currencies - The company has exposure to interest rate risk on its floating-rate bank line of credit, which had **$6.8 million** in advances outstanding at April 30, 2021[99](index=99&type=chunk) - Foreign currency exchange rate risk is present as **25%** of net sales in fiscal year 2021 were derived in currencies other than the U.S. dollar[100](index=100&type=chunk) - Cash balances held by foreign subsidiaries and denominated in foreign currencies totaled **$5.4 million** at April 30, 2021[102](index=102&type=chunk) [Financial Statements and Supplementary Data](index=19&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the company's audited consolidated financial statements for fiscal years 2021 and 2020, including statements of operations, comprehensive income, stockholders' equity, balance sheets, and cash flows, along with detailed notes on accounting policies and financial details Consolidated Statement of Operations Highlights (in thousands) | Line Item | FY 2021 | FY 2020 | | :--- | :--- | :--- | | Net sales | $147,469 | $147,540 | | Gross profit | $23,993 | $23,427 | | Operating loss | $(1,316) | $(2,345) | | Net loss attributable to Kewaunee | $(3,672) | $(4,687) | Consolidated Balance Sheet Highlights (in thousands) | Line Item | April 30, 2021 | April 30, 2020 | | :--- | :--- | :--- | | Total Current Assets | $60,457 | $54,231 | | Total Assets | $89,384 | $83,929 | | Total Current Liabilities | $34,181 | $27,060 | | Total Stockholders' Equity | $41,487 | $38,703 | Consolidated Cash Flow Highlights (in thousands) | Line Item | FY 2021 | FY 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $912 | $4,161 | | Net cash used in investing activities | $(2,397) | $(2,465) | | Net cash provided by (used in) financing activities | $1,982 | $(7,458) | Disaggregated Revenue (in thousands) | Revenue Recognition | FY 2021 | FY 2020 | | :--- | :--- | :--- | | Over Time | $144,009 | $142,419 | | Point in Time | $3,460 | $5,121 | | **Total Revenue** | **$147,469** | **$147,540** | Segment Revenues from External Customers (in thousands) | Segment | FY 2021 | FY 2020 | | :--- | :--- | :--- | | Domestic | $111,035 | $115,103 | | International | $36,434 | $32,437 | | **Total** | **$147,469** | **$147,540** | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=47&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) There were no changes in or disagreements with accountants regarding accounting and financial disclosure - None reported[220](index=220&type=chunk) [Controls and Procedures](index=47&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures and internal control over financial reporting were effective as of April 30, 2021 - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of April 30, 2021[221](index=221&type=chunk) - Management concluded that the company maintained effective internal control over financial reporting as of April 30, 2021, based on the COSO framework[222](index=222&type=chunk) [Other Information](index=48&type=section&id=Item%209B.%20Other%20Information) No other information was reported - None[227](index=227&type=chunk) PART III [Directors, Executive Officers and Corporate Governance](index=49&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) This section details the company's executive officers as of June 30, 2021, with additional information on directors and corporate governance incorporated by reference from the Proxy Statement Executive Officers (as of June 30, 2021) | Name | Age | Position | | :--- | :--- | :--- | | Thomas D. Hull III | 45 | President and Chief Executive Officer | | Donald T. Gardner III | 42 | Vice President, Finance, Chief Financial Officer, Treasurer and Secretary | | Ryan S. Noble | 43 | Vice President, Sales and Marketing—Americas | | Elizabeth D. Phillips | 44 | Vice President, Human Resources | | Kurt P. Rindoks | 63 | Vice President, Global Product Development and Strategic Alliances | | Lisa L. Ryan | 43 | Vice President of Construction Operations | | Mandar Ranade | 47 | Vice President of Information Technology and Engineering | | Douglas J. Batdorff | 48 | Vice President of Manufacturing Operations | | Boopathy Sathyamurthy | 52 | Vice President, Kewaunee Scientific Corporation Singapore Pte. Ltd., Managing Director, International Operations | [Executive Compensation](index=51&type=section&id=Item%2011.%20Executive%20Compensation) Information concerning executive compensation, including compensation tables and agreements, is incorporated by reference from the company's Proxy Statement - All information related to executive compensation is incorporated by reference from the company's Proxy Statement[242](index=242&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=51&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) This section details equity compensation plans as of April 30, 2021, showing **209,517** securities to be issued upon exercise and **167,136** available for future issuance, with other ownership information incorporated by reference Equity Compensation Plan Information (as of April 30, 2021) | Plan Category | Securities to be issued upon exercise | Weighted-average exercise price | Securities remaining available for future issuance | | :--- | :--- | :--- | :--- | | Equity Compensation Plans approved by Security Holders | 209,517 | - | 167,136 | | Equity Compensation Plans not approved by Security Holders | — | — | — | | **Total** | **209,517** | **-** | **167,136** | [Certain Relationships and Related Transactions, and Director Independence](index=51&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information on certain relationships, related transactions, and director independence is incorporated by reference from the company's Proxy Statement - All information related to this item is incorporated by reference from the company's Proxy Statement[244](index=244&type=chunk) [Principal Accountant Fees and Services](index=51&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the company's Proxy Statement - All information related to principal accountant fees and services is incorporated by reference from the company's Proxy Statement[245](index=245&type=chunk) PART IV [Exhibits and Financial Statement Schedules](index=52&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists the consolidated financial statements and various exhibits filed as part of the Annual Report, with financial statement schedules omitted due to information being disclosed elsewhere - This section lists the consolidated financial statements and exhibits filed with the Form 10-K[247](index=247&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 _________________________ KEWAUNEE SCIENTIFIC CORPORATION (E ...