Smith Brian Scott 4

What Happened

• Brian Scott Smith, President of Hearth & Home Technologies at HNI Corp, exercised 2,000 options at $46.62 (cost $93,240) and sold 2,000 shares in the open market at $52.20 for proceeds of $104,400 on February 9, 2026. The Form 4 also reports a derivative conversion/disposition of 2,000 shares reported at $0.
• The sale was executed under a prearranged Rule 10b5-1 trading plan (see footnote). This sequence—exercise followed by an immediate sale—is commonly a cashless exercise and sale of option shares.

Key Details

• Transaction date: 2026-02-09; Form 4 filed: 2026-02-10 (timely).
• Exercise: 2,000 shares @ $46.62 = $93,240 (Acquired).
• Sale: 2,000 shares @ $52.20 = $104,400 (Disposed).
• Derivative conversion/disposition: 2,000 shares reported as disposed at $0 (reported as a derivative transaction).
• Footnotes: F1 — transaction effectuated pursuant to a Rule 10b5-1 plan adopted Nov 10, 2025; F2 — dollar amount combines multiple lots at same price.
• Shares owned after the transaction: not disclosed in the provided filing summary.

Context

• For retail investors: this was an option exercise followed by an immediate sale (cashless exercise), and the sale was made under a pre-established 10b5-1 plan, indicating the trades were prearranged rather than ad hoc. The derivative item reported at $0 reflects a conversion/settlement entry on the Form 4; the filing does not provide further detail on that line. This activity is factual reporting of insider transactions and does not by itself indicate the insider’s view on the company’s stock.