Lorenger Jeffrey D 4

What Happened
Jeffrey D. Lorenger, President & CEO and a director of HNI Corp (HNI), had performance stock units vest on Feb 25, 2026 and was issued 112,952 shares (reported as an award/acquisition at $0.00). To satisfy tax withholding on the vesting, 48,739 of those shares were withheld by the company at an effective value of $50.14 per share, representing $2,443,773. No shares were sold on the open market.

Key Details

• Transaction dates: Vesting and issuance on 2026-02-25; Form 4 filed 2026-02-27 (timely within the 2-business-day requirement).
• Reported transactions: A = Award/Grant of 112,952 shares at $0.00; F = Tax withholding of 48,739 shares at $50.14 (value $2,443,773).
• Footnotes: F1 notes these shares relate to Performance Stock Units granted under HNI’s 2017 Stock-Based Compensation Plan on Feb 15, 2023. F2 clarifies the 48,739 shares were withheld by the issuer to cover taxes upon vesting; no shares were sold.
• Shares owned after the transaction: Not specified in the filing.

Context: This was a vesting of performance-based equity (PSUs) rather than an open-market purchase or voluntary sale. The withholding of shares for taxes is a common administrative step when awards vest and does not indicate a market sale by the insider.