MLKN Form 3: Veltman reports shares, options ($20–$27.75) and RSU vesting schedule
Rhea-AI Filing Summary
Kevin J. Veltman reported initial beneficial ownership of MillerKnoll, Inc. (MLKN). He directly holds 18,181.581 shares and indirectly holds 664.404 shares through a profit share plan. He also holds stock options exercisable for 29,442 shares at strike prices from $20.00 to $27.75, and 10,477 restricted stock units that convert to common shares on vesting dates between 2026 and 2028.
Positive
- Full disclosure of direct and indirect holdings provides transparency on insider ownership
- Detailed listing of option strike prices and RSU vesting schedules enables clear tracking of potential dilution
Negative
- None.
Insights
TL;DR: This Form 3 discloses the reporting person's direct and indirect holdings plus multiple option and RSU grants.
The filing documents Mr. Veltman's initial reported ownership in MLKN, combining direct shareholdings, an indirect profit-share allocation, several outstanding non-qualified stock options with staggered exercisability and strikes, and restricted stock units scheduled to vest through 2028. For governance, this provides transparency on insider incentives and potential future dilution as options and RSUs vest and convert to common shares.
TL;DR: Report clarifies equity exposure and potential future share issuance from options and RSUs.
The statement quantifies current direct ownership (18,181.581 shares) and indirect holdings (664.404 shares), plus option positions totaling 29,442 underlying shares and 10,477 RSUs. Exercise prices are noted ($20.00 to $27.75) with vesting/exercise timelines into 2033. This information helps model potential dilution and timing of insider-aligned compensation realizations.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Non-Qualified Stock Option (right to buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (right to buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (right to buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (right to buy) | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Currently 10,933 options are fully exercisable, with the remaining and final third tranche of 5,466 options vesting on July 18, 2026 Currently exercisable. 1,172 RSUs represent the third and final tranche of his July 2023 RSU grant award. These units will vest on August 1, 2026. The original grant scheduled to vest 25%, 25%, 50%. 1,490 RSUs represent the second and third tranche of the July 2024 RSU grant award. These tranches will vest ratably each year on July 22. The original grant scheduled to vest in three equal installments over three years. 7,815 RSUs represent the three tranches from the July 2025 RSU grant award. These tranches will vest ratably each year on July 22. The original grant is scheduled to vest in three equal installments over three years. Each restricted stock unit represents a contingent right to receive one share of MLKN common stock.
