MillerKnoll (MLKN) CFO Kevin Veltman Exercises Awards, Shares Withheld

What Happened

• Kevin J. Veltman, Chief Financial Officer of MillerKnoll (MLKN), had equity awards/derivatives settle on August 1, 2026. The filing shows conversion/exercise and issuance of a total of 2,486 shares (1,172 from a derivative conversion + 582 + 233 + 499 from awards/RSU/PSU settlements).
• To cover tax withholding, 1,141.649 shares were surrendered (four separate "F" withholding transactions) at $22.52 per share, resulting in $25,710 paid to satisfy taxes. Net shares issued to Veltman from these transactions are therefore about 1,344.351 shares (2,486 total issued minus 1,141.649 shares withheld).

Key Details

• Transaction date: August 1, 2026; Form 4 filed August 3, 2026 (no indication in the filing of a late report).
• Prices: Tax withholding executed at $22.52 per share; derivative/award entries show $0.00 price because they are issuances/settlements rather than open-market buys.
• Share counts: 1,172 (derivative conversion/exercise), plus awards/RSU/PSU shares of 582, 233, and 499 = 2,486 shares issued; 1,141.649 shares withheld for taxes; net ~1,344.351 shares to Veltman.
• Footnotes: Shares issued were pursuant to Performance Share Units granted Oct 19, 2023 under the company's 2020 LTIP (F2). Each RSU equals one share (F3). Vesting follows a three-year schedule with August 1 vest dates (25%/25%/50%) (F4). Dividend equivalent units were reinvested into vesting RSUs per the form (F1), which satisfies Rule 16b-2 exemption.
• Transaction codes: M = exercise/conversion of derivative; A = grant/award/acquisition; F = payment of exercise price or tax liability (share withholding).
• Shares owned after transaction: The Form 4 does not list total beneficial ownership on its face here; you can infer net new shares received from this settlement are ~1,344.351. The filing’s Table I would show the official post-transaction holdings (not provided in detail here).

Context

• This was not an open-market buy or sale by the officer; it reflects settlement of performance/share-based awards and a derivative conversion with standard tax withholding (a routine administrative step, not an investment purchase).
• For retail investors: award vesting and tax-withholding transactions are common and do not necessarily signal insider sentiment about the company's stock price.