NEOGEN CORP — Director's Dealing 2011

Feb 17, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEOGEN CORP (NEOG)
CIK: 0000711377
Period of Report: 2011-02-15

Reporting Person: HERBERT JAMES L (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-15	Common Stock	M	3421	$9.02	Acquired	815678	Direct
2011-02-15	Common Stock	M	9746	$13.55	Acquired	825424	Direct
2011-02-16	Common Stock	M	1291	$6.75	Acquired	826715	Direct
2011-02-16	Commons Stock	S	1291	$37.41	Disposed	825424	Direct
2011-02-16	Common Stock	M	3748	$8.09	Acquired	829172	Direct
2011-02-16	Common Stock	S	3748	$37.41	Disposed	825424	Direct
2011-02-17	Common Stock	M	5252	$9.09	Acquired	830676	Direct
2011-02-17	Common Stock	S	5252	$37.18	Disposed	825424	Direct
2011-02-17	Common Stock	M	1350	$8.18	Acquired	826774	Direct
2011-02-17	Common Stock	S	1350	$37.18	Disposed	825424	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-15	Common Stock Options (Right to Buy)	$9.02	M	4500	Disposed	2011-11-03	Common Stock (4500)	Direct
2011-02-15	Common Stock Options (Right to Buy)	$13.55	M	15236	Disposed	2012-08-09	Common Stock (15236)	Direct
2011-02-16	Common Stock Options (Right to Buy)	$6.75	M	1291	Disposed	2013-10-10	Common Stock (1291)	Direct
2011-02-16	Common Stock Options (Right to Buy)	$9.09	M	3748	Disposed	2014-12-21	Common Stock (3748)	Direct
2011-02-17	Common Stock Options (Right to Buy)	$9.09	M	5252	Disposed	2014-12-21	Common Stock (5252)	Direct
2011-02-17	Common Stock Options (Right to Buy)	$13.55	M	1350	Disposed	2015-10-31	Common Stock (1350)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	194320	Indirect

Footnotes

F1: The shares are held in trust for the benifit of Judith Herbert, spouse of James Herbert.

F2: The options were granted 11/3/06 and became exercisable 20% yearly thereafter.

F3: The options were granted 8/9/07 and became exercisable 20% yearly thereafter.

F4: The options were granted 10/10/03 and became exercisable 33% yearly thereafter.

F5: The options were granted 12/21/04 and became exercisable 33% yearly thereafter.

F6: The options were granted 10/31/05 and became exercisable 33% yearly thereafter.

F7: The option plan provides for the exchange of outstanding options for currently valued shares in an amount equal to the employee's equity in the options held.