HNI CEO Jeffrey Lorenger Exercises Options and Sells Shares

What Happened
Jeffrey D. Lorenger, President, CEO and a director of HNI Corp (HNI), exercised 1,504 stock options on August 28, 2026 (exercise price $38.68) for a cash cost of $58,175 and simultaneously sold the 1,504 shares in the open market at $50.00 per share for total proceeds of $75,200. The filing also reports the cancellation/conversion of the underlying derivative with a $0 proceeds line (standard when options convert to shares). Net pre-tax proceeds from the transaction were about $17,025. This trade was executed under a pre-arranged Rule 10b5-1 plan.

Key Details

• Transaction date: 2026-08-28 (reported on Form 4 filed 2026-09-01)
• Exercise: 1,504 shares at $38.68 — total cost $58,175 (code M)
• Sale: 1,504 shares at $50.00 — total proceeds $75,200 (code S)
• Derivative line: 1,504 @ $0.00 reported as disposed (reflects option conversion) (code M)
• Shares owned after the transaction: Not disclosed in this filing
• Footnotes: Trades were effected pursuant to a 10b5-1 trading plan adopted Feb 27, 2026 (F1). Dollar amounts combined from multiple lots at same price (F2).
• Timeliness: Filing date 2026-09-01 — timely (within the two-business-day Form 4 reporting window for an 2026-08-28 transaction).

Context

• This was an option exercise followed by an immediate open-market sale (common “exercise-and-sell” or cashless-style pattern). The $0 derivative disposal line simply reflects the cancellation/conversion of the option shares into common shares, not additional cash proceeds.
• The trade being under a 10b5-1 plan means it was pre-arranged and executed according to that plan’s terms; such trades are often automatic and do not necessarily reflect on-the-spot insider sentiment.