HNI Corporation
05/20/2022 | Press release | Distributed by Public on 05/20/2022 09:12
Material Event - Form 8-K
hni-20220520
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 20, 2022
Commission File Number: 1-14225
HNI Corporation
| Iowa | 42-0617510 |
| (State of incorporation) | (IRS Employer Identification No.) |
600 East Second Street
P. O. Box 1109
Muscatine, Iowa52761-0071
(563) 272-7400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (seeGeneral Instruction A.2.):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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| Securities registered pursuant to Section 12(b) of the Act: | ||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | HNI | New York Stock Exchange |
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). | ||
| Emerging growth company | ☐ | |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ | ||
Item 8.01Other Events
On May 17, 2022, HNI's Board of Directors (the "Board") approved additional expenditures of up to $200 million to repurchase HNI Corporation's (the "Corporation") outstanding shares of Common Stock from time to time under the Corporation's share repurchase program (the "Program"). As of April 30, 2022, the Corporation had $61 million remaining authorization under the Program, bringing the total authorization to $261 million following approval of the increase. The Program does not have an expiration date and does not obligate the Corporation to purchase any shares. The authorization for the Program may be terminated, increased, or decreased by the Board at any time.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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HNI CORPORATION
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| Date: | May 20, 2022 | By: | /s/ Steven M. Bradford | |
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Steven M. Bradford Senior Vice President, General Counsel and Secretary |