NATIONAL PRESTO INDUSTRIES INC (NPK)
Sector: Industrials
2026 Annual Meeting Analysis
NATIONAL PRESTO INDUSTRIES INC · Meeting: May 19, 2026
Directors FOR
2
Directors AGAINST
0
Say on Pay
FOR
Auditor
FOR
Director Elections
Election of Directors
Lieble has served since 2008 and has deep financial expertise as a former CFO; NPK's 3-year price return of +119.7% outperforms the sector ETF benchmark (XLI — fallback; no named peer group) by +39.5pp, well below the 65pp threshold needed to trigger an against vote, and no other policy flags apply.
Stienessen has served since 2005 and brings extensive CPA and accounting expertise; NPK's 3-year outperformance of +39.5pp versus XLI (fallback; no named peer group) does not meet the 65pp threshold to trigger a negative vote, and no other policy flags apply.
Both nominees are independent directors with relevant financial expertise; NPK's strong 3-year total shareholder return of +119.7% outperforms the XLI sector ETF fallback benchmark by +39.5pp, comfortably below the 65pp trigger threshold, so the TSR test supports FOR votes on the full slate.
Say on Pay
✓ FORCEO
Maryjo Cohen
Total Comp
$754,299
Prior Support
98.3%%
CEO Maryjo Cohen's total compensation of $754,299 is modest for a $1B industrial company and well within reasonable benchmarks for her title and sector. The prior say-on-pay vote received 98.3% support, reflecting broad shareholder satisfaction. While the pay mix is heavily weighted toward fixed salary — which is a yellow flag under policy — the overall compensation levels are low enough that this structural concern does not override a FOR vote; the company does have a clawback policy in place and restricted stock awards align executive interests with shareholders over a 5-year vesting horizon.
Auditor Ratification
✓ FORAuditor
RSM US LLP
Tenure
N/A
Audit Fees
$788,400
Non-Audit Fees
$23,200
Non-audit fees (tax services of $23,200) represent only about 2.9% of audit fees ($788,400), far below the 50% threshold that would raise independence concerns; auditor tenure is not disclosed so the tenure trigger cannot fire per policy; no restatements are noted; RSM US LLP is a large national firm appropriate for a $1B company.
Overall Assessment
This is a straightforward annual meeting ballot with three standard proposals: two director elections, auditor ratification, and an advisory say-on-pay vote. NPK's exceptional stock performance, low executive pay levels, clean auditor fee structure, and near-unanimous prior say-on-pay support all point to FOR votes across the entire ballot.
Compensation Peer Group
12 companies disclosed in 2026 proxy filing