Securities to be offered to employees in employee benefit plans



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UNITED STATES




SECURITIES AND EXCHANGE COMMISSION




Washington, D.C. 20549










FORM

S-8





REGISTRATION STATEMENT





UNDER






THE
SECURITIES ACT OF 1933











LAKELAND INDUSTRIES, INC.




(Exact name of registrant as specified in its charter)































Delaware





13-3115216





(State or other jurisdiction of




incorporation or organization)






(I.R.S. Employer




Identification Number)





202 Pride Lane SW, Decatur, AL 35603




(Address of Principal Executive Offices) (Zip Code)




Lakeland Industries, Inc. 2017 Equity Incentive Plan, as amended




(Full title of the Plan)




Allen E. Dillard




Chief
Financial Officer




202 Pride Lane SW




Decatur, AL 35603




(256)

350-3873





(Name, address, including zip code, and telephone number, including area code, of agent
for service)




Copies to:




Timothy W. Gregg




Maynard, Cooper & Gale, P.C.




1901 Sixth Ave. N, Suite 1700




Birmingham, AL 35203




(205)

254-1000










Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a

non-accelerated

filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated
filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule

12b-2

of the Exchange Act.





























































Large accelerated filer





Accelerated filer








Non-accelerated filer





Smaller reporting company












Emerging growth company





If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.     ☐










CALCULATION OF REGISTRATION FEE





























































Title of securities


to be registered





Amount




to be




registered






Proposed




maximum




offering
price




per share






Proposed




maximum




aggregate




offering




price






Amount of




registration fee




Common stock, par value $0.01 per share




480,000

(1)



24.03

(2)



$11,534,400

(2)



$1,258.40













(1)


Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this
Registration Statement also covers such indeterminate number of additional securities as may become issuable under the Lakeland Industries, Inc. 2017 Equity Incentive Plan as the result of any future stock splits, stock dividends or similar
adjustment of the registrant’s common stock.









(2)


Pursuant to paragraphs (c) and (h) of Rule 457, the proposed maximum offering price per share and the
proposed maximum aggregate offering price have been computed based on the average of the high and low sale prices of the common stock reported on the NASDAQ Stock Market on August 31, 2021.



















EXPLANATORY NOTE



On June 16, 2021, the stockholders of Lakeland Industries, Inc. (the “Company”) approved Amendment No. 1 (the “Amendment”) to
the Lakeland Industries, Inc. 2017 Equity Incentive Plan, as amended (the “Plan”). The Amendment increases the number of shares of common stock, par value $0.01 per share (the “Common Stock”), of the Company reserved for issuance
under the Plan by 480,000 shares. The purpose of this Registration Statement is to register the 480,000 additional shares of Common Stock reserved for issuance pursuant to the Plan. The Common Stock registered hereunder is in addition to the 360,000
shares of Common Stock previously reserved for issuance under the Plan and previously registered on the Company’s Registration Statement on

Form S-8 filed

on June 30, 2017 (Commission
File No.

333-219084)

(the “Prior Registration Statement”).



This Registration Statement is filed in
accordance with General Instruction E to

Form S-8,

“Registration of Additional Securities.” Pursuant to Instruction E, the contents of the Prior Registration Statement are incorporated by
reference and made a part of this Registration Statement except as amended hereby.




PART I




INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS



The documents containing the information specified in Part I will be sent or given to participants in the Plan, as specified by Rule 428(b)(1) of the
Securities Act. Consistent with the instructions of Part I of Form

S-8,

such documents will not be filed with the Securities and Exchange Commission (the “Commission”) either as part of this
Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. These documents and the documents incorporated by reference pursuant to Item 3 of Part II of this Registration Statement, taken
together, constitute a prospectus as required by Section 10(a) of the Securities Act.




PART II




INFORMATION REQUIRED IN THE REGISTRATION STATEMENT




Item 3

.

Incorporation of Documents by Reference.



The following documents previously filed by the Company with the Commission are incorporated by reference in this Registration Statement:












(a)


The Company’s Annual Report on

Form

10-K


for the fiscal year ended January 31, 2021, filed with the Commission on April 
16, 2021 (including the portions of the

Definitive Proxy Statement for the Company’s 2021 Annual Meeting of Stockholders, filed with the Commission on May 4,
2021, which are incorporated by reference therein);













(b)


The Company’s Quarterly Report on

Form

10-Q


for the fiscal quarter ended April 30, 2021, filed with the Commission on June 9, 2021;













(c)


The Company’s Current Reports on Form

8-K

filed with the
Commission on

February


16, 2021

,

February


24, 2021

,

June


21, 2021

,

June


24, 2021

and

July


7, 2021

(except, with respect to each of the foregoing, for portions of such reports
which are deemed to be furnished and not filed); and













(d)


The description of the Company’s Common Stock contained in the Company’s Registration Statement on
Form

8-A

filed with the Commission on March 30, 1987, including any amendment(s) or report(s) filed for the purpose of updating such description.




All documents filed by the Company subsequent to the date of this Registration Statement pursuant to Sections 13(a), 13(c), 14 and 15(d) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all such securities then
remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents (except, with respect to each of the foregoing, for portions of such documents which
are deemed to be furnished and not filed).











Any statement contained in a document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein, or in any subsequently filed document that also is or is deemed to be incorporated by reference herein,
modifies or supersedes such prior statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.




Item 4. Description of Securities.



Not applicable.




Item 5. Interests of
Named Experts and Counsel.



Not applicable.




Item 6. Indemnification of Directors and Officers.



Section 145 of the Delaware General Corporation Law (the “DGCL”) generally provides that all directors and officers (as well as
other employees and individuals) may be indemnified against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement in connection with certain specified actions, suits or proceedings, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the corporation—a “derivative action”), if they acted in good faith and in a manner they reasonably believed to be in or not opposed to the best interests of
the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe their conduct was unlawful. A similar standard of care is applicable in the case of derivative actions, except that indemnification extends
only to expenses (including attorneys’ fees) incurred in connection with defense or settlement of an action, and the DGCL requires court approval before there can be any indemnification where the person seeking indemnification has been found
liable to the corporation. Section 145 of the DGCL also provides that the rights conferred thereby are not exclusive of any other right to which any person may be entitled under any bylaw, agreement, vote of stockholders or disinterested
directors or otherwise, and permits a corporation to advance expenses to or on behalf of a person entitled to be indemnified upon receipt of an undertaking to repay the amounts advanced if it is determined that the person is not entitled to be
indemnified.



The Company’s Restated Certificate of Incorporation, as amended, provides that no director shall be personally liable
to the Company or its stockholders for monetary damages for breach of fiduciary duty as a director, except (i) for any breach of the director’s duty of loyalty to the Company or its stockholders, (ii) for acts or omissions not in good
faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction from which the director derived an improper personal benefit.



Article NINTH of the Restated Certificate of Incorporation of the Company provides that the Company shall, to the fullest extent permitted by
Section 145 of the DGCL, as the same may be amended and supplemented, indemnify any and all persons whom it shall have power to indemnify under Section 145 of the DGCL from and against any and all of the expenses, liabilities or other
matters referred to in or covered by Section 145 of the DGCL, and such right to indemnification shall not be deemed exclusive under any Bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in his or
her official capacity and as to action in another capacity while holding such office, and shall continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and
administrators of such person.



The Company’s Amended and Restated

By-laws

provide that each
person who was or is a party or is otherwise threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (hereinafter a “Proceeding”), by reason
of the fact that he or she or a person of whom he or she is the legal representative is or was, at any time during which the

By-laws

are in effect (whether or not such person continues to serve in such
capacity at the time any indemnification or advancement of expenses pursuant to the

By-laws

is sought or at the time any Proceeding relating thereto exists or is brought), a











director or officer of the Company or, while serving as a director or officer of the Company, is or was serving at the request of the Company as a director, officer, trustee, employee or agent of
another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans maintained or sponsored by the Company, shall be (and shall be deemed to have a contractual right to be)
indemnified and held harmless by the Company (and any successor by merger or otherwise) to the fullest extent authorized by the DGCL against all expense, liability and loss (including attorneys’ fees, judgments, fines, ERISA excise taxes or
penalties and amounts paid or to be paid in settlement) actually and reasonably incurred or suffered by such person in connection with such Proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not
opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful; provided, however, that except as otherwise provided in the

By-laws,

the Company shall indemnify any such person seeking indemnification in connection with a Proceeding (or part thereof) initiated by such person only if such Proceeding (or part thereof) was authorized by the
Board of Directors.



The foregoing discussion of the Company’s Restated Certificate of Incorporation, Amended and Restated

By-laws

and the DGCL is not intended to be exhaustive and is qualified in its entirety by such Restated Certificate of Incorporation, Amended and Restated

By-laws

and the
DGCL, respectively.



The Plan provides limitations on liability of directors as members of the Board of Directors of the Company with
respect to any action taken or omitted to be taken or any determination made in good faith with respect to the Plan or any award made thereunder. Further, the Plan provides that directors shall be indemnified by the Company against any civil or
criminal action or proceeding against them by reason of the fact that such director is or was a director of the Company, to the extent such criminal or civil action or proceeding relates to the Plan or any award made thereunder.



The Company also maintains a directors’ and officers’ insurance policy that insures the officers and directors of the Company from
claims arising out of an alleged wrongful act by such person in their respective capacities as officers and directors of the Company.



Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the
Company pursuant to the provisions discussed above, the Company has been informed that in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.




Item 7. Exemption from Registration Claimed.



Not applicable.




Item 8. Exhibits.



















































































Exhibit No.





Description of Exhibit





4.1



Restated Certificate of Incorporation of Lakeland Industries, Inc., as amended.




4.2



Amended and Restated

By-laws

of Lakeland Industries, Inc. (incorporated by reference to Exhibit 3.1 of
Lakeland Industries, Inc.’s Form

8-K

filed April 28, 2017).




4.3



Lakeland Industries, Inc. 2017 Equity Incentive Plan, inclusive of all amendments through June 16, 2021.




5.1



Opinion of Maynard, Cooper & Gale, P.C.




23.1



Consent of Deloitte & Touche LLP.




23.2



Consent of Maynard, Cooper & Gale, P.C. (included in Exhibit 5.1).




24.1



Power of Attorney (included on the signature page hereto).

















Item




9

.

Undertakings.




(a) The undersigned registrant hereby undertakes:



(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration
Statement:



(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;



(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the
most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with
the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the
effective Registration Statement;



(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;




provided,
however

, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the Registration Statement is on Form

S-8,

and the information required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.



(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial

bona fide

offering thereof.



(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain
unsold at the termination of the offering.



(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial

bona fide

offering thereof.



(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of
any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.














SIGNATURES



Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form

S-8

and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Decatur, State of Alabama, on
September 3, 2021.






































LAKELAND INDUSTRIES, INC.




By:



/s/ Charles D. Roberson





Charles D. Roberson



Chief Executive Officer, President and Secretary



KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and
appoints Charles D. Roberson and Allen E. Dillard, and each of them, with full power of substitution, such person’s true and lawful


attorneys-in-fact


and agents for
such person, with full power and authority to do any and all acts and things and to execute any and all instruments which said attorneys and agents determine may be necessary or advisable or required to comply with the Securities Act and any rules
or regulations or requirements of the Commission in connection with this Registration Statement. Without limiting the generality of the foregoing power and authority, the powers granted include the power and authority to sign the names of the
undersigned officers and directors in the capacities indicated below to this Registration Statement, to any and all amendments, both

pre-effective

and post-effective, and supplements to this Registration
Statement, and to any and all instruments or documents filed as part of or in conjunction with this Registration Statement or amendments or supplements thereof, and each of the undersigned hereby ratifies and confirms that said attorneys and agents
shall do or cause to be done by virtue hereof. This Power of Attorney may be signed in several counterparts.



Pursuant to the requirements
of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:


























































































































Signature





Title





Date







/s/ Charles D. Roberson



Charles D. Roberson





Chief Executive Officer, President, Secretary and Director



(Principal Executive Officer)




September 3, 2021





/s/ Allen E. Dillard



Allen E. Dillard





Chief Financial Officer



(Principal Financial Officer and Principal Accounting Officer)




September 3, 2021





/s/ Christopher J. Ryan



Christopher J. Ryan




Executive Chairman of the Board


September 3, 2021







A. John
Kreft




Director


September 3, 2021







Jeffrey
Schlarbaum




Director


September 3, 2021







Thomas
J. McAteer




Director


September 3, 2021





/s/ James M. Jenkins



James M. Jenkins




Director


September 3, 2021





/s/ Nikki L. Hamblin



Nikki L. Hamblin




Director


September 3, 2021



The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Lakeland: Press Release Dated October 19, 2021 - Oct. 20, 2021

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