[Form 4] Steelcase, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Jennifer C. Niemann, a director of Steelcase Inc. (NYSE: SCS), reported transactions dated 08/08/2025 that converted or resulted in acquisitions of Class A common stock. The filing shows acquisitions or conversions of Class A shares and underlying Class A equivalents of 436,861, 5,703, 104,384, 72,430, 51,957 and 1,459,753 shares, and an additional indirect holding of 10,000 shares held by PILACON Limited Partnership. Following the reported transactions Ms. Niemann directly beneficially owns 500,665 Class A shares and indirectly holds shares via spouse, trusts and partnerships reported as 5,803, 104,384, 77,200, 51,957 and 1,459,753 respectively. The filing notes Class B shares convert on a 1-for-1 basis into Class A and were immediately convertible, and shows 0 derivative securities beneficially owned following these transactions. Footnotes disclose managerial roles and limited disclaimers of beneficial ownership for certain partnership holdings.

Positive

• Direct Class A ownership increased to 500,665 shares following reported transactions
• Large indirect holdings disclosed, including 1,459,753 shares held by CRASTECOM B Limited Partnership
• Conversion terms are explicit: Class B converts 1-for-1 into Class A and conversions were immediately convertible

Negative

• No transaction price or cash consideration is reported in the filing for the conversions, reducing transparency about economic terms
• Materiality cannot be assessed from this Form 4 alone because total shares outstanding or percentage ownership are not provided in the document
• Disclaimers of beneficial ownership for shares held by certain partnerships limit clarity on voting and control influence

Insights

Corporate Governance Expert

TL;DR: Director converted Class B into Class A and disclosed substantial direct and indirect holdings; filings include standard disclaimers.

The Form 4 documents routine conversion transactions dated 08/08/2025 that increased Ms. Niemann's reported direct Class A stake to 500,665 shares and discloses meaningful indirect holdings via trusts and partnerships. Footnotes explicitly state trustee roles and disclaimers of beneficial ownership for partnership-held stock, which is important for voting and control analysis. The filing is procedural and transparent about ownership forms; it does not on its face disclose any unusual governance actions or transfers to unrelated parties.

Securities Analyst

TL;DR: Conversions were 1-for-1 and immediately convertible; direct and indirect share counts are sizable but materiality versus total shares outstanding is not shown.

The filing shows conversion-coded transactions (Code C) that produced immediate Class A shares underlying Class B positions, with underlying amounts such as 436,861 and 1,459,753 reported. Table II indicates 0 derivative securities remain after conversion. Without the issuer's total shares outstanding or percentage ownership in this filing, I cannot assess market or voting power impact quantitatively. The disclosure is complete for insider reporting purposes but lacks context to judge material market impact.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

NIEMANN JENNIFER C

(Last) (First) (Middle)

STEELCASE INC.

901 44TH ST SE

(Street)

GRAND RAPIDS MI 49508

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STEELCASE INC [ NYSE: SCS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/08/2025		C		436,861	A	(1)	500,665	D
Class A Common Stock	08/08/2025		C		5,703	A	(1)	5,803	I	By spouse
Class A Common Stock	08/08/2025		C		104,384	A	(1)	104,384	I	By trusts(2)
Class A Common Stock	08/08/2025		C		72,430	A	(1)	77,200	I	By trusts(3)
Class A Common Stock	08/08/2025		C		51,957	A	(1)	51,957	I	By trust(4)
Class A Common Stock	08/08/2025		C		1,459,753	A	(1)	1,459,753	I	By CRASTECOM B Limited Partnership(5)
Class A Common Stock								10,000	I	By PILACON Limited Partnership(6)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(7)	08/08/2025		C			436,861	(8)	(1)	Class A Common Stock	436,861	(1)	0	D
Class B Common Stock	(7)	08/08/2025		C			5,703	(8)	(1)	Class A Common Stock	5,703	(1)	0	I	By spouse
Class B Common Stock	(7)	08/08/2025		C			104,384	(8)	(1)	Class A Common Stock	104,384	(1)	0	I	By trusts(2)
Class B Common Stock	(7)	08/08/2025		C			72,430	(8)	(1)	Class A Common Stock	72,430	(1)	0	I	By trusts(3)
Class B Common Stock	(7)	08/08/2025		C			51,957	(8)	(1)	Class A Common Stock	51,957	(1)	0	I	By trust(4)
Class B Common Stock	(7)	08/08/2025		C			1,459,753	(8)	(1)	Class A Common Stock	1,459,753	(1)	0	I	By CRASTECOM B Limited Partnership(5)

Explanation of Responses:

1. Not applicable.

2. Represents shares held by trust for the benefit of Ms. Niemann's family members, of which trusts Ms. Niemann's spouse serves as trustee.

3. Represents shares held by trusts for the benefit of Ms. Niemann's family members, of which trusts Ms. Niemann serves as trustee.

4. Represents shares held by a trust for the benefit of Ms. Niemann and her family, of which trust Ms. Niemann serves as co-trustee.

5. Represents shares held by CRASTECOM B Limited Partnership, of which Ms. Niemann is the managing general partner. Ms. Niemann disclaims beneficial ownership of the shares of Class B Common Stock held by CRASTECOM except to the extent of her pecuniary interest therein.

6. Represents shares held by PILACON Limited Partnership, of which Ms. Niemann is the managing partner. Ms. Niemann disclaims beneficial ownership of the shares of Class A Common Stock held by PILACON except to the extent of her pecuniary interest therein.

7. Shares of Class B Common Stock are convertible into shares of Class A Common Stock on a 1-for-1 basis.

8. Immediately convertible.

Remarks:

	Liesl A. Maloney, by power of attorney	08/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Jennifer C. Niemann report on the Form 4 for Steelcase (SCS)?

The filing reports transactions dated 08/08/2025 involving conversions/acquisitions that resulted in Class A amounts of 436,861, 5,703, 104,384, 72,430, 51,957 and 1,459,753 shares, plus an indirect holding of 10,000 shares by PILACON.

How many Class A shares does Ms. Niemann directly own after the reported transactions?

Following the reported transactions Ms. Niemann directly beneficially owns 500,665 Class A shares as shown on the Form 4.

What indirect holdings were disclosed in the Form 4 for SCS?

Indirect holdings disclosed include 5,803 (spouse), 104,384 (trusts), 77,200 (trusts), 51,957 (trust), and 1,459,753 (CRASTECOM B Limited Partnership).

Were any derivative securities retained after the transactions?

No. Table II shows 0 derivative securities beneficially owned following the reported transactions.

What conversion rate applied to Class B shares?

The filing notes Class B Common Stock converts into Class A Common Stock on a 1-for-1 basis and the shares were reported as immediately convertible.