Mesa Laboratories (MLAB) Proxy filing summary

Executive summary

• Fiscal year 2026 saw solid financial performance with revenues of $249.1M, 3.4% organic revenue growth, and a 13.3% increase in operating income to $18.5M; adjusted operating income rose 11.9% to $63.5M, and net leverage was reduced from 3.0 to 2.1.

• Leadership transitioned from Gary Owens to Dr. Siddhartha Kadia as President and CEO in April 2026, with a focus on strengthening organic growth, operational discipline, and aligning incentives with long-term value.

• Shareholder engagement remained a priority, with outreach to holders of over 70% of shares and meetings with those representing 35% of outstanding shares, influencing governance and compensation decisions.

Voting matters and shareholder proposals

• Shareholders are to vote on: (1) election of seven directors for one-year terms, (2) ratification of Baker Tilly US, LLP as independent auditor for FY2027, and (3) an advisory vote on executive compensation.

• The Board unanimously recommends voting FOR all proposals.

Board of directors and corporate governance

• The Board consists of seven nominees, with a mix of tenures and backgrounds; 57% joined in the last five years, 29% are female, and 29% are racially diverse.

• All committees (Audit, Compensation, Nominating and Governance) are composed of independent directors; annual self-assessments and ongoing director education are conducted.

• Governance best practices include stock ownership requirements, a clawback policy, independent Board majority, and robust shareholder outreach.