MILLERKNOLL CCO Bruce Benedict Exercises/Receives RSUs, Withholds Shares

What Happened

• Bruce Benedict, Chief Creative Officer of MILLERKNOLL, exercised/converted derivative awards and received a total of 17,266 shares on August 1, 2026 (combination of exercised/conversion and grant entries). To cover tax liabilities, the company withheld ~7,929 shares (dispositions) at $22.52 per share, totaling $178,561. The retained net increase in his holdings from these transactions is about 9,337 shares.
• The exercises/conversions and awards were reported as having $0.00 exercise price, indicating vested equity awards (performance share units/restricted stock units) rather than a cash purchase.

Key Details

• Transaction date: August 1, 2026; Form 4 filed August 3, 2026 (appears timely).
• Prices: Withheld shares valued at $22.52 each; total tax withholding value ≈ $178,561.
• Shares involved: Acquired 17,266 shares (8,138 + 4,041 + 1,621 + 3,466); withheld/disposed ≈ 7,929 shares (3,949.186 + 1,761.876 + 706.756 + 1,511.177).
• Net shares retained from the event: ~9,337 shares.
• Footnotes: Shares issued pursuant to Performance Share Units granted Oct 19, 2023 under the 2020 LTIP (F2). Each RSU/PSU equals one share (F3). Vesting schedule is three years (25%/25%/50%) with vesting on August 1 each year (F4). F1 notes dividend equivalents were reinvested into vesting RSUs per Rule 16b-2 exemption.
• Filing timeliness: No late filing flag shown; Form 4 filed two days after the transaction date.

Context

• This was not an open-market purchase or sale for liquidity/speculation: it reflects vesting/conversion of equity awards (M = exercise/conversion of derivative; A = grant/award) with shares withheld to satisfy tax withholding obligations (F).
• For retail investors, grants/vests are routine compensation events. The important takeaways are the size of the award, the withholding cost ($178.6k), and the net increase of roughly 9,337 shares to Benedict’s holdings.