Jason Dean Hagedorn - 12 Feb 2022 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: 12 Feb 2022
Net transactions value: +$23,271
Form type: 4
Filing time: 15 Feb 2022, 17:14:46 UTC
Previous filing: 15 Feb 2022
Next filing: 18 Feb 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	$36,186	+863	+5.2%	$41.93	17,542	12 Feb 2022	Direct	F1
transaction	HNI	Common Stock	Tax liability	$12,914	-308	-1.8%	$41.93	17,234	12 Feb 2022	Direct	F2
holding	HNI	Common Stock						763	12 Feb 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	-50%	$0.000000	864	12 Feb 2022	Common Stock	863	$0.000000	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.