HNI CEO Jeffrey Lorenger Exercises Options, Sells Shares

What Happened

• Jeffrey D. Lorenger, President & CEO and a director of HNI Corp (HNI), exercised stock options and sold shares on August 24, 2026. He exercised 700 shares at an exercise price of $38.68 (total cost $27,076) and sold 700 shares in the open market at a weighted-average price of $50.01 for total proceeds of $35,005. The filing also shows 700 shares recorded as derivative disposals at $0.00 (300 and 400-share entries), which commonly reflect shares surrendered to satisfy exercise or tax-withholding obligations.

Key Details

• Transaction date: August 24, 2026; Form 4 filed August 26, 2026 (timely filing).
• Exercise details: 300 shares @ $38.68 (acquired) and 400 shares @ $38.68 (acquired) — total cost $27,076.
• Sales details: 300 shares @ $50.01 and 400 shares @ $50.01 — total proceeds $35,005. Footnote: sale prices were multiple trades in the $50.000–$50.010 range (weighted average reported).
• Derivative disposals: 300 and 400-share entries at $0.00 (reported as "Disposed" under exercise/conversion) — typically used to cover exercise/tax obligations.
• Net difference for exercised-and-sold shares (before taxes/withholdings): sale proceeds $35,005 minus exercise cost $27,076 = ~$7,929 gain.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Execution plan: Transactions were effected under a Rule 10b5-1 trading plan adopted February 27, 2026.

Context

• This pattern—exercising options and immediately selling shares—often reflects option exercises with concurrent sales to cover costs or to diversify, and here was done under a pre-established 10b5-1 plan. The $0.00 derivative disposal lines are commonly how companies report shares surrendered for taxes or to satisfy option exercise obligations; they do not by themselves indicate additional cash received. The filing is factual and does not indicate personal motivation.