Form 4: HNI Corp Executive Michael J. Roch Reports Changes in Beneficial Ownership

CCO Michael J. Roch of HNI Corp reports the withholding of shares to cover taxes upon vesting of restricted stock units.

Summary

• On June 30, 2024, Michael J. Roch, CCO of HNI Corp, had 1,846 common stock shares withheld by the issuer to cover taxes upon the vesting of restricted stock units.
• The price per share for tax withholding was $45.02.
• Following the transaction, Roch beneficially owns 20,769 shares of HNI Corp common stock, which includes 279 shares of dividends accrued on unvested restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a standard transaction related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects standard practices for handling tax obligations associated with equity-based compensation.

Comparison to Industry Standards

• Executive compensation practices, including the use of restricted stock units and tax withholding, are common across publicly traded companies.
• Companies like Steelcase, Herman Miller (now MillerKnoll), and Knoll (acquired by Herman Miller) also utilize similar equity compensation plans for their executives.
• The specific number of shares and value will vary based on individual compensation agreements and company performance.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it relates to executive compensation and does not represent a significant change in the company's financial position.

Key Dates