MillerKnoll (MLKN) CLO Jacqueline Hourigan Rice Exercises Options, Sells Shares

What Happened

• Jacqueline Hourigan Rice, Chief Legal Officer of MillerKnoll (MLKN), exercised or converted 6,917 derivative securities and received several equity awards/vests on August 1, 2026 (grants/awards of 3,435; 1,378; and 2,946 shares). To satisfy tax obligations, a total of 6,739.585 shares were withheld (reported as dispositions) at $22.52 per share, totaling approximately $151,775. The exercise/conversion and awards were reported with $0.00 per-share acquisition price in the filing.

Key Details

• Transaction date: August 1, 2026; Form 4 filed August 3, 2026 (timely filing).
• Exercise/conversion: 6,917 derivative securities (report shows $0.00 price).
• Awards/vests received (A): 3,435; 1,378; and 2,946 shares (total 7,759 shares).
• Tax withholding (F): 3,356.661; 1,497.66; 600.808; and 1,284.456 shares withheld — total 6,739.585 shares — at $22.52 each = $151,775 (approx).
• Reported disposals also include a 6,917-share derivative disposition entry (reported $0), reflecting the conversion/settlement mechanics in the filing.
• Shares owned after the transactions are not specified in the data you provided.
• Notable footnotes:
  • F1/F2: Dividend equivalents were reinvested into vesting RSUs (exemption under Rule 16b-2).
  • F3: Some shares were PSUs issued Aug 1, 2026 pursuant to Performance Share Units granted Oct 19, 2023 under the 2020 LTIP.
  • F4–F5: RSUs equal one share each and follow a 3‑year vesting schedule (25%/25%/50% on each Aug 1).
  • Employee Stock Purchase Plan purchases and exemptions under Rule 16b-3 are noted for directly owned shares.

Context

• This filing reflects an exercise/settlement and vesting event with standard tax-withholding (share withholding), i.e., shares were used to satisfy tax liabilities (transaction code F). That is a routine, administrative action and does not by itself indicate a buy or sell sentiment.
• For clarity: M = exercise/conversion of derivatives, A = award/grant, F = tax withholding/payment.