Form 4: HNI Corp Director Larry B Porcellato Sells 2,000 Shares Under 10b5-1 Plan

HNI Corp Director Larry B Porcellato sold 2,000 shares of common stock at a weighted average price of $48.009 per share, executed under a pre-arranged 10b5-1 trading plan.

Summary

• On July 12, 2024, Larry B Porcellato, a director of HNI Corp, sold 2,000 shares of common stock.
• The sale was executed under a Rule 10b5-1 trading plan adopted on December 1, 2023.
• The shares were sold at a weighted average price of $48.009, with individual transactions ranging from $48.00 to $48.04.
• Following the transaction, Porcellato beneficially owns 39,724.5835 shares of HNI Corp common stock, which includes reinvested dividends of 173.9819 shares acquired under the HNI Corporation Directors Deferred Compensation Plan.

Sentiment

Score: 5

Explanation: The document reports a routine stock sale by a director under a pre-arranged trading plan, indicating a neutral sentiment.

Industry Context

Sales by insiders are a normal part of corporate activity. The use of a 10b5-1 trading plan suggests the insider is selling shares in a pre-planned manner to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates