HNI (NYSE: HNI) COO receives 3,482 restricted stock units award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HNI CORP reported that officer Kourtney L. Smith, COO of Kimball International, acquired 3,482 shares of Common Stock through a grant classified as a grant/award acquisition. These shares represent Common Stock underlying Restricted Stock Units granted at a price of $0.00 per share.
The Restricted Stock Units were granted under HNI's 2017 Stock-Based Compensation Plan and are scheduled to vest in three equal annual installments, beginning on the first anniversary of the grant date, contingent on Smith’s continued service on each vesting date. Following this award, Smith directly owns 39,338 shares of HNI Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
SMITH KOURTNEY L
Role
COO, Kimball International
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 3,482 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 39,338 shares (Direct)
Footnotes (1)
- [object Object]
FAQ
What did HNI (HNI) COO Kourtney L. Smith report in this Form 4 filing?
Kourtney L. Smith reported acquiring 3,482 shares of HNI Common Stock through a grant of Restricted Stock Units at $0.00 per share. The award was made under HNI’s 2017 Stock-Based Compensation Plan and reflects equity-based executive compensation rather than an open-market share purchase.
How do the granted Restricted Stock Units for HNI (HNI) COO vest over time?
The Restricted Stock Units granted to HNI COO Kourtney L. Smith vest in three equal annual installments. Vesting begins on the first anniversary of the grant date and continues annually, provided she remains in service with the company on each applicable vesting date.
What type of transaction is reported for HNI (HNI) in this Form 4?
The Form 4 reports a non-derivative equity transaction coded “A,” described as a grant, award, or other acquisition. It reflects the awarding of Restricted Stock Units to COO Kourtney L. Smith, rather than a traditional market purchase or sale of HNI Common Stock.
Is Kourtney L. Smith’s ownership in HNI (HNI) direct or indirect after this award?
Kourtney L. Smith’s ownership is reported as direct following this award. The filing classifies her ownership type and code as direct, meaning the 39,338 shares of HNI Common Stock, including those underlying the new Restricted Stock Units, are held in her own name.