Form 4: MillerKnoll Director Acquires Phantom Stock Units

Michael A Volkema, a director at MillerKnoll, Inc., acquired 8,219.178 phantom stock units on January 15, 2025, under the company's director deferred compensation plan.

Summary

• Michael A Volkema, a director of MillerKnoll, Inc., acquired 8,219.178 phantom stock units on January 15, 2025.
• These phantom stock units are economically equivalent to shares of common stock.
• The phantom stock will be payable in shares of common stock at the director's election, according to the company's deferred compensation plan.
• The price of the phantom stock was $21.9 per unit.
• Following this transaction, Mr. Volkema beneficially owns 35,354.3249 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed positively as it aligns director interests with shareholders. There are no negative implications.

Positives

• The acquisition of phantom stock by a director demonstrates confidence in the company's future performance.
• The deferred compensation plan aligns director interests with those of shareholders.

Future Outlook

The phantom stock units will be converted to common stock at a future date at the director's election.

Industry Context

Director compensation through phantom stock is a common practice in publicly traded companies to align the interests of management with shareholders.

Comparison to Industry Standards

• Many companies use phantom stock or similar equity-based compensation plans for directors.
• The specific terms of MillerKnoll's plan, such as the vesting schedule and conversion terms, would need to be compared to other companies in the furniture and design industry to assess its competitiveness.
• Companies like Herman Miller (now part of MillerKnoll) and Steelcase also use equity-based compensation, but the specific details of their plans would need to be reviewed for a direct comparison.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's performance.

Key Dates

Keywords

phantom stock, director compensation, insider trading, equity, MillerKnoll, MLKN, deferred compensation