Jason Dean Hagedorn - Feb 12, 2022 Form 4 Insider Report for HNI CORP (HNI)

Role
President, Allsteel Inc.
Signature
/s/ Steven M. Bradford, By Power of Attorney
Stock symbol
HNI
Transactions as of
Feb 12, 2022
Transactions value $
$23,271
Form type
4
Date filed
2/15/2022, 05:14 PM
Previous filing
Feb 15, 2022
Next filing
Feb 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HNI Common Stock Options Exercise $36.2K +863 +5.17% $41.93 17.5K Feb 12, 2022 Direct F1
transaction HNI Common Stock Tax liability -$12.9K -308 -1.76% $41.93 17.2K Feb 12, 2022 Direct F2
holding HNI Common Stock 763 Feb 12, 2022 Profit-Sharing Retirement Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HNI Restricted Stock Units Options Exercise $0 -863 -49.97% $0.00 864 Feb 12, 2022 Common Stock 863 $0.00 Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the conversion of Restricted Stock Units into Common Stock. On February 12, 2020, the reporting person was granted 2,590 Restricted Stock Units ("2020 Grant") to vest one-third in equal installments over a three year period beginning on the first anniversary of the grant date. The first installment of 863 fully vested on February 12, 2021. The second installment of 863 fully vested on February 12, 2022.
F2 The reporting person is reporting the withholding by the Issuer of an aggregate 308 shares of Common Stock that vested on February 12, 2022 pursuant to the 2020 Grant, but that were not issued in order to satisfy the reporting person's tax withholding obligations.
F3 Each restricted stock unit represents a contingent right to receive one share of Issuer's Common Stock.
F4 On February 12, 2020, the reporting person was granted 2,590 Restricted Stock Units, to vest one-third in equal installments over a three year period beginning on the first anniversary of the grant date. The first installment of Restricted Stock Units vested on February 12, 2021 and the second installment of Restricted Stock Units vested on February 12, 2022. The third installment to vest on February 12, 2023.