Jason Dean Hagedorn - 13 Feb 2023 Form 4 Insider Report for HNI CORP (HNI)

Role: President, Allsteel Inc.
Signature: /s/ Steven M. Bradford, By Power of Attorney
Issuer symbol: HNI
Transactions as of: 13 Feb 2023
Net transactions value: -$9,610
Form type: 4
Filing time: 14 Feb 2023, 15:12:39 UTC
Previous filing: 03 Feb 2023
Next filing: 17 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HNI	Common Stock	Options Exercise	$0	+864	+4.2%	$0.000000	21,659	13 Feb 2023	Direct	F1, F2
transaction	HNI	Common Stock	Tax liability	$9,610	-309	-1.4%	$31.10	21,350	13 Feb 2023	Direct	F3
holding	HNI	Common Stock						929	13 Feb 2023	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	-864	-100%	$0.000000^*	0	13 Feb 2023	Common Stock	864	$0.000000	Direct	F1, F2, 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. The third installment of 864 fully vested on February 12, 2023.
F2	Each restricted stock unit represents a contingent right to receive one share of Issuer's Common Stock.
F3	The reporting person is reporting the withholding by the Issuer of an aggregate 309 shares of Common Stock that vested on February 12, 2023 pursuant to the 2020 Grant, but that were not issued in order to satisfy the reporting person's tax withholding obligations.
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, the second installment of Restricted Stock Units vested on February 12, 2022, and the third installment of Restricted Stock Units vested on February 12, 2023.