Jason Dean Hagedorn - Aug 7, 2021 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
Aug 7, 2021
Transactions value $
$62,432
Form type
4
Date filed
8/10/2021, 05:41 PM
Next filing
Feb 15, 2022
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 $89.7K +2.32K +16.23% $38.61 16.6K Aug 7, 2021 Direct F1
transaction HNI Common Stock Tax liability -$27.2K -705 -4.24% $38.61 15.9K Aug 7, 2021 Direct F2
holding HNI Common Stock 583 Aug 7, 2021 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 -2.32K -100% $0.00* 0 Aug 7, 2021 Common Stock 2.32K $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 August 7, 2018, the reporting person was granted 4,645 Restricted Stock Units ("2018 Grant") to vest in two equal installments beginning on the second anniversary of the grant date. The first installment of 2,323 fully vested on August 7, 2020. The second installment of 2,322 fully vested on August 7, 2021.
F2 The reporting person is reporting the withholding by the Issuer of an aggregate 705 shares of Common Stock that vested on August 7, 2021 pursuant to the 2018 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 August 7, 2018, the reporting person was granted 4,645 Restricted Stock Units, vesting in equal installments starting on the second anniversary of the grant date of the 2018 Grant. The first installment of Restricted Stock Units vested on August 7, 2020, and the remaining Restricted Stock Units vested on August 7, 2021 and is reported on Table I of this Form 4.