Equity award boosts HNI (NYSE: HNI) CEO’s direct share holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HNI CORP President & CEO Jeffrey D. Lorenger received an equity award of 75,061 shares of common stock in the form of Restricted Stock Units under the company’s 2017 Stock-Based Compensation Plan. These RSUs convert into common stock in three equal annual installments starting on the first anniversary of the grant date, contingent on his continued service.
Following this grant, Lorenger directly holds 180,284 common shares. The filing also reports indirect holdings of 217,054.462 shares held by a trust and 7,674.193 shares held through a profit sharing retirement plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Lorenger Jeffrey D
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 75,061 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 180,284 shares (Direct);
Common Stock — 217,054.462 shares (Indirect, By Trust)
Footnotes (1)
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FAQ
What did HNI (HNI) CEO Jeffrey Lorenger report in this Form 4 filing?
Jeffrey D. Lorenger reported an award of 75,061 HNI common shares via Restricted Stock Units. These RSUs were granted under the 2017 Stock-Based Compensation Plan and will convert into common stock over time, subject to service-based vesting conditions.
What are the vesting terms of the HNI (HNI) CEO’s new Restricted Stock Units?
The 75,061 Restricted Stock Units vest in three equal annual installments. Vesting begins on the first anniversary of the grant date and each tranche requires Jeffrey D. Lorenger’s continued service with HNI CORP on the applicable vesting date.
Is the HNI (HNI) CEO’s award a purchase or a stock-based grant?
The transaction is a stock-based grant categorized as a Restricted Stock Unit award. It is described as shares of HNI common stock underlying RSUs granted under the 2017 Stock-Based Compensation Plan, rather than an open-market stock purchase.
What plan governs the HNI (HNI) CEO’s new Restricted Stock Units?
The new Restricted Stock Units were granted under HNI CORP’s 2017 Stock-Based Compensation Plan. This plan provides for stock-based awards that convert into common shares over time, subject to vesting conditions tied to the executive’s continued service.