Item  5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers" -->
Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 2, 2008, the Board of Directors of Lindsay Corporation (the “Company”) increased the size of the Board from seven to eight directors and appointed W. Thomas Jagodinski to the Board effective July 7, 2008. Mr. Jagodinski was also appointed to serve on the Audit Committee. Mr. Jagodinski is a member of the class of directors with a term expiring at the Company’s annual meeting of stockholders to be held in 2011.
Mr. Jagodinski will receive a one-time grant of restricted stock units with an award value of $35,000 with the grant being effective on July 17, 2008, the date of his first Board meeting as a director. The number of restricted stock units to be awarded is based on the closing price of the Company’s common stock on the grant date, and the restricted stock units are payable in shares of common stock under the 2006 Long-Term Incentive Plan. These restricted stock units vest ratably (one-third each year) on each of November 1, 2008, 2009 and 2010. In addition, Mr. Jagodinski will receive compensation for serving as a director consistent with the description of compensation of non-employee directors contained in the Company’s proxy statement under the heading “Compensation of Directors.”
A copy of the Company’s press release announcing the appointment of Mr. Jagodinski to the Board of Directors is furnished herewith as Exhibit 99.1.
Item 9.01.   Financial Statements and Exhibits
  99.1   Press Release, dated July 7, 2008, issued by the Company.

 

 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
Dated: July 7, 2008  LINDSAY CORPORATION
 
 
  By:   /s/ Timothy J. Paymal    
    Timothy J. Paymal, Vice President and   
    Chief Accounting Officer