Form 4: MillerKnoll Director Boosts Stake via Deferred Compensation Plan
Insider Transaction Report
MillerKnoll Director Michael R. Smith reported an increase in beneficial ownership through phantom stock acquisition and conversion to common stock.
Summary
- Michael R. Smith, a Director at MILLERKNOLL, INC. (MLKN), reported transactions on January 15, 2026, involving both common stock and phantom stock.
- Smith acquired 7,384.6153 shares of phantom stock, increasing his total phantom stock holdings to 27,260.5227 shares.
- Concurrently, Smith converted 1,307.348 shares of phantom stock into common stock, resulting in two separate acquisitions of common stock: 526.054 shares and 781.294 shares.
- Following these transactions, Smith's direct beneficial ownership of common stock increased to 3,100.348 shares.
- The phantom stock is the economic equivalent of common stock and becomes payable in common stock at the reporting person's election, as part of the company's director deferred compensation plan.
- All transactions were executed at a price of $19.5 per share.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions related to a director's deferred compensation plan, including both acquisition of phantom stock and conversion to common stock. This is a neutral event, reflecting planned compensation activity rather than a significant positive or negative operational or strategic development for the company.
Positives
- Director Michael R. Smith increased his total beneficial ownership in MillerKnoll by acquiring 7,384.6153 shares of phantom stock.
- The conversion of phantom stock into common stock demonstrates the director's continued investment and direct stake in the company's equity, increasing direct common stock ownership to 3,100.348 shares.
Future Outlook
NA
Industry Context
This filing details a routine insider transaction related to a director's compensation plan and does not provide broader industry context or trends.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Plan Utilization | The filing highlights the ongoing operation and utilization of MillerKnoll, Inc.'s Director Deferred Compensation Plan, which allows directors to elect to receive phantom stock that is convertible into common stock. | 01/15/2026 | Reinforces the structure of director compensation and aligns director interests with shareholders through equity ownership. |
Related Party Transactions
- The transactions involve a director of MillerKnoll, Inc. acquiring and converting phantom stock into common stock, which are dealings between a related party (director) and the company as part of a standard, disclosed director deferred compensation plan.
Stakeholder Impact
- Shareholders: The transactions indicate a director's continued and increased equity stake in the company, potentially signaling confidence in the company's future performance.
- Employees: No direct impact on employees is indicated by this filing.
Key Dates
| Date | Description |
|---|---|
| 01/15/2026 | Date of reported transactions for common stock and phantom stock. |
| 01/16/2026 | Date the Form 4 was signed and filed. |
Keywords
MillerKnoll, MLKN, Insider Trading, Form 4, Phantom Stock, Common Stock, Director Compensation, Equity Ownership, Deferred Compensation Plan
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