HNI executive receives 5,563-share stock unit grant
Smith Brian Scott reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Smith Brian Scott reported acquisition or exercise transactions in this Form 4 filing.
HNI CORP President, Hearth & Home Tech, Brian Scott Smith received an equity grant of 5,563 restricted stock units tied to HNI common stock. The units were granted at no cash cost and will vest in three equal annual installments starting one year after the grant date, contingent on his continued service. Following this award, his directly held common stock totaled 17,173.7563 shares, with an additional 1,617.5730 shares held indirectly through a Profit-Sharing Retirement Plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 5,563 shares
Grant/Award
2 txns
Insider
Smith Brian Scott
Role
President, Hearth & Home Tech
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,563 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 17,173.7563 shares (Direct);
Common Stock — 1,617.573 shares (Indirect, Profit-Sharing Retirement Plan)
Footnotes (1)
- F1. Reflects shares of Common Stock of Issuer underlying Restricted Stock Units granted under the Issuer's 2017 Stock-Based Compensation Plan convertible to such Common Stock subject to vesting in three equal annual installments commencing on the first anniversary of the grant date, subject to the reporting person's continued service on each applicable vesting date.
FAQ
What insider transaction did HNI (HNI) report for Brian Scott Smith?
HNI reported that Brian Scott Smith received a grant of 5,563 restricted stock units linked to HNI common stock. This award is part of equity compensation and was issued at no cash cost, increasing his directly held common stock position to 17,173.7563 shares.
How do Brian Scott Smith’s new HNI restricted stock units vest?
The 5,563 restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date. Each vesting tranche is conditioned on Brian Scott Smith’s continued service with HNI on the applicable vesting dates, aligning the award with multi-year retention incentives.
Was the HNI equity grant to Brian Scott Smith an open-market purchase?
No, the transaction was classified as a grant or award acquisition rather than an open-market purchase. The units were granted at a price of $0.0000 per share under HNI’s 2017 Stock-Based Compensation Plan as part of his compensation package, not bought on the market.
Under which plan were Brian Scott Smith’s HNI restricted stock units granted?
The 5,563 restricted stock units were granted under HNI’s 2017 Stock-Based Compensation Plan. These units are convertible into HNI common stock upon vesting, with vesting dependent on his continued service on each of the three scheduled annual vesting dates.
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