Jeffrey D. Lorenger - Nov 14, 2023 Form 4 Insider Report for HNI CORP (HNI)

Role: President & CEO, Director
Signature: /s/ Steven M. Bradford, By Power or Attorney
Stock symbol: HNI
Transactions as of: Nov 14, 2023
Transactions value $: $20,116
Form type: 4
Date filed: 11/15/2023, 04:33 PM
Previous filing: Nov 14, 2023
Next filing: Feb 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HNI	Common Stock	Options Exercise	$331K	+9.53K	+3.25%	$34.78	303K	Nov 14, 2023	Direct
transaction	HNI	Common Stock	Sale	-$369K	-9.43K	-3.12%	$39.14	293K	Nov 14, 2023	Direct	F1
transaction	HNI	Common Stock	Sale	-$3.81K	-96	-0.03%	$39.66	293K	Nov 14, 2023	Direct
transaction	HNI	Common Stock	Options Exercise	$61.7K	+1.77K	+0.61%	$34.78	295K	Nov 15, 2023	Direct	F2
holding	HNI	Common Stock						6.72K	Nov 14, 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	Non-qualifying employee stock options (right to buy)	Options Exercise	$0	-9.53K	-84.3%	$0.00	1.77K	Nov 14, 2023	Common Stock	9.53K	$34.78	Direct
transaction	HNI	Non-qualifying employee stock options (right to buy)	Options Exercise	$0	-1.77K	-100%	$0.00^*	0	Nov 15, 2023	Common Stock	1.77K	$34.78	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	The price in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.655 - $39.64, inclusive. The reporting person undertakes to provide HNI Corporation, any security holder of HNI Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.
F2	This is an exercise and hold transaction. This transaction is the second in a two step transaction initiated on November 14, 2023, under a 10b5-1 plan where options were exercised and shares sold to cover taxes and expenses.

Content

The price in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.655 - $39.64, inclusive. The reporting person undertakes to provide HNI Corporation, any security holder of HNI Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.

This is an exercise and hold transaction. This transaction is the second in a two step transaction initiated on November 14, 2023, under a 10b5-1 plan where options were exercised and shares sold to cover taxes and expenses.