Form 4: MillerKnoll Chief Strategy Officer Reports RSU Vesting and Stock Transactions

Megan Lyon, MillerKnoll's Chief Strategy and Technology Officer, reported the vesting of restricted stock units and subsequent stock dispositions for tax withholding on July 22, 2025.

Summary

• Megan Lyon, Chief Strategy and Technology Officer of MillerKnoll, Inc. (MLKN), reported transactions involving common stock and restricted stock units.
• On July 22, 2025, Lyon acquired 30,131 shares of common stock upon the vesting of restricted stock units (RSUs) related to her fiscal 2024 annual incentive bonus, which she elected to receive as RSUs instead of cash. These RSUs cliff vested on this date.
• Also on July 22, 2025, Lyon acquired an additional 5,245 shares of common stock from the vesting of other restricted stock units, which are part of a three-year vesting schedule.
• Following these acquisitions, Lyon disposed of 1,556.279 shares and 8,942.919 shares of common stock, totaling 10,499.198 shares, at a price of $19.5 per share, primarily for tax withholding purposes.
• After all reported transactions, Lyon directly beneficially owns 63,872.1345 shares of MillerKnoll common stock.
• The reported common stock holdings include shares purchased through the MillerKnoll, Inc. Employee Stock Purchase Plan.
• The number of derivative securities beneficially owned following the reported transactions includes dividend equivalent units reinvested in corresponding vesting RSUs.

Sentiment

Score: 7

Explanation: The filing indicates a significant increase in direct beneficial ownership for a key executive through the vesting of Restricted Stock Units, including those elected in lieu of a cash bonus. This demonstrates management's commitment and alignment with shareholder interests. The subsequent disposition of shares is for routine tax withholding.

Positives

• Megan Lyon acquired a significant number of shares (35,376 shares) through the vesting of Restricted Stock Units, indicating compensation and alignment with shareholder interests.
• The acquisition of 30,131 RSUs was a result of the executive electing to receive her fiscal 2024 annual incentive bonus in the form of RSUs instead of cash, demonstrating confidence in the company's long-term performance.
• The directly owned common stock holdings include shares purchased through the MillerKnoll, Inc. Employee Stock Purchase Plan, suggesting ongoing employee investment in the company.

Negatives

• A total of 10,499.198 shares were disposed of at $19.5 per share for tax withholding purposes, which is a common practice but reduces direct ownership.

Future Outlook

The filing indicates that some Restricted Stock Units are subject to a three-year vesting schedule, with tranches vesting on July 22nd of each respective year, suggesting future share acquisitions for the reporting person.

Industry Context

This filing is a routine disclosure of insider transactions, specifically related to executive compensation through equity awards. It reflects standard practices within publicly traded companies where executives receive a portion of their compensation in the form of restricted stock units, aligning their interests with long-term company performance.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) for executive compensation and annual incentive bonuses, along with an Employee Stock Purchase Plan, aligns with common compensation practices observed across various industries for publicly traded companies.
• Companies like Apple (AAPL), Microsoft (MSFT), and Google (GOOGL) frequently utilize RSUs as a key component of their executive and employee compensation packages to incentivize long-term performance and retention.
• The disposition of shares for tax withholding upon vesting is also a standard procedure.

Stakeholder Impact

• Shareholders: Increased direct ownership by a key executive may be viewed positively as it aligns management's interests with shareholder value.
• Employees: The mention of the Employee Stock Purchase Plan indicates a broader program for employee investment, which can foster a sense of ownership.
• Management: The transactions reflect the execution of the executive's compensation plan, including equity awards and tax obligations.

Next Steps

• Future tranches of the 5,245 Restricted Stock Units will vest on July 22nd of each respective year, subject to the three-year vesting schedule.

Key Dates

Keywords

MillerKnoll, MLKN, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Executive Compensation, Stock Ownership, Megan Lyon, Chief Strategy Officer, Technology Officer, Employee Stock Purchase Plan