Form 4: MillerKnoll General Counsel Granted Over 24,000 Restricted Stock Units

MillerKnoll, Inc. General Counsel and Corporate Secretary Jacqueline Hourigan Rice was granted 24,419 restricted stock units, vesting in three equal annual installments starting July 22nd.

Summary

• Jacqueline Hourigan Rice, General Counsel & Corporate Secretary of MillerKnoll, Inc. (MLKN), was granted 24,419 Restricted Stock Units (RSUs).
• Each RSU represents a contingent right to receive one share of MLKN common stock.
• The RSUs vest in three equal annual installments, with each tranche vesting on July 22nd of the respective year.
• Following this transaction, Jacqueline Hourigan Rice beneficially owns a total of 79,066 derivative securities (RSUs).
• The transaction date for this grant was July 15, 2025.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: The grant of RSUs to a key executive is generally a positive sign for executive retention and alignment of interests, though it represents a minor future dilution event.

Positives

• The granting of Restricted Stock Units (RSUs) to a key executive aligns management's interests with shareholder value.
• The vesting schedule over three years acts as a retention mechanism for a senior executive.
• The transaction was conducted under a Rule 10b5-1(c) plan, indicating a pre-arranged and transparent transaction.

Negatives

• Dilution of existing shares will occur upon the vesting and conversion of the RSUs into common stock, though the impact from this single grant is minimal.

Future Outlook

The document details a future vesting schedule for the granted RSUs, indicating a commitment to the executive over the next three years.

Industry Context

This is a routine executive compensation disclosure common across publicly traded companies, reflecting standard practices for aligning executive incentives with long-term company performance.

Comparison to Industry Standards

• Granting Restricted Stock Units (RSUs) to senior executives is a common compensation practice in the U.S. corporate landscape, comparable to equity incentive programs at companies like Steelcase Inc. (SCS) or HNI Corporation (HNI) within the office furniture and design industry, aiming to retain talent and align interests.
• The specific number of units granted would typically be benchmarked against peer group compensation data, though such comparative data is not provided in this filing.

Stakeholder Impact

• Shareholders: Minor potential future dilution upon RSU vesting; however, it aligns executive incentives with long-term share price performance.
• Employees: No direct impact on general employees, but it signals the company's approach to executive compensation.

Next Steps

• The Restricted Stock Units will vest in three equal annual installments.
• Each tranche will vest on July 22nd of its respective year.
• Upon vesting, the RSUs will convert into shares of MLKN common stock.

Key Dates

Keywords

MillerKnoll, MLKN, Restricted Stock Units, RSU, Executive Compensation, Insider Transaction, Form 4, Corporate Governance, Jacqueline Hourigan Rice, Equity Grant