MILLERKNOLL, INC.
For the period ended May 31, 2025. Filed Aug 29, 2025.
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May 31, 2025 · Filed Aug 29, 2025
MLKN$21.49-2.3%Stored close · as of Nov 6, 2026
Contents
Compensation Program Changes for Fiscal
| Executive Compensation | Table of Contents |
|---|
Compensation Program Changes for Fiscal 2026
For fiscal 2026, the Committee approved the following changes presented in the table below:
| Program | Change | Rationale |
|---|---|---|
| AIP | •Replaced EBITDA, As Adjusted with Operating Earnings, As Adjusted(1)•Introduced reportable Segment Multiplier for our Segment Leaders and Segment teams (excluding the CEO and CFO):•15% multiplier for performance ≥ 105% of Segment target; or•25% multiplier for performance ≥ 110% of Segment target | •The Committee and Management determined Operating Earnings provides a more accurate reflection of how the Company evaluates segment performance, while also mitigating volatility associated with non-cash depreciation•Incorporating the reportable Segment Multiplier reinforces the Company's pay-for-performance approach by strengthening the direct connection between performance and compensation. |
| LTIP | •Adopted a new LTI mix for the Leadership Team Members (excluding the CEO(2)):•50% PSUs•50% RSUs | •Performance Accountability – PSUs directly link a significant portion of awards to achieving multi-year performance goals, reinforcing accountability for delivering sustainable business results.•Retention and Ownership – RSUs provide a time-based incentive that supports executive retention, promotes continued ownership in the Company, and rewards sustained stock price appreciation. |
(1)Operating earnings, as adjusted ("Operating Earnings, As Adjusted") by the Compensation Committee
(2)LTI mix for the CEO remains consistent with FY25, 60% PSUs and 40% RSUs.
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