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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Jan. 01, 2022
Jan. 02, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay versus Performance
In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Corporation provides the following disclosure for its four most recent fiscal years. The following table shows pay versus performance (PVP) information for the Named Executive Officers.
 
Year
Summary
Compensation
Table Total for
CEO
(1)
Compensation
Actually Paid
(CAP) to CEO
(2)
Average
Summary
Compensation
Table Total for
Non-CEO
Named
Executive
Officers
(1)
Average
Compensation
Actually Paid
(CAP) for Non-
CEO Named
Executive
Officers
(2)
Value of Initial Fixed $100
Investment Based on:
Net
Income
($000)
(4)
Adjusted
EBIT ($000)
(5)
Total
Shareholder
Return
(3)
Peer Group
Total
Shareholder
Return
(3)
2023
7,102,944
12,515,492
1,781,035
2,738,287
129
65
49,226
178,123
2022
5,675,554
(1,815,166)
1,405,252
106,684
84
44
123,873
128,359
2021
9,132,815
12,666,026
2,352,863
3,104,883
120
78
59,814
100,728
2020
4,907,623
3,421,825
1,491,383
1,190,173
96
75
41,917
107,028
 
Notes
1.
For each year shown, the CEO was Mr. Lorenger. For 2023, the other NEOs were Mr. Bridges, Mr. Berger, Mr. Bradford, and Mr. Bullock. For 2022, the other NEOs were Mr. Bridges, Mr. Berger, Mr. Bradford, Mr. Bullock, and Mr. Tjaden. For 2021 and 2020, the other NEOs were Mr. Bridges, Mr. Berger, Mr. Bradford, and Mr. Tjaden. The values reflected in this column reflect the “Total” compensation set forth in the Summary Compensation Table (SCT) for each applicable year. See the footnotes to the SCT for further detail regarding the amounts in this column.
2.
Calculated in accordance with Item 402(v) of Regulation S-K. Compensation actually paid (“CAP”) is defined by the SEC and is computed by subtracting the amounts in the “Stock Awards” and “Option Awards” columns of the SCT for each year from the “Total” column of the SCT and then making the equity award adjustments described below, all of which are computed in a manner consistent with the fair value methodology used to account for share-based payments in the Company’s GAAP financial statements. The following tables reflect the adjustments made to SCT total compensation to compute CAP for the CEO and average CAP for the other NEOs.
CEO
 
 
SCT Total
Comp
SCT Equity
Awards
Equity Award
Adjustments
(a)
CAP
2023
7,102,944
(3,553,470)
8,966,018
12,515,492
2022
5,675,554
(3,399,987)
(4,090,733)
(1,815,166)
2021
9,132,815
(6,783,691)
10,316,902
12,666,026
2020
4,907,623
(3,103,063)
1,617,265
3,421,825
Other Named Executive Officers (Average)
 
 
SCT Total
Comp
SCT Equity
Awards
Equity Award
Adjustments
(a)
CAP
2023
1,781,035
(593,461)
1,550,714
2,738,287
2022
1,405,252
(453,537)
(845,031)
106,684
2021
2,352,863
(1,362,756)
2,114,776
3,104,883
2020
1,491,383
(610,480)
309,270
1,190,173
a.
The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change in fair value as of the end of the applicable year (from the end of the prior fiscal year) of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards granted in prior years that vest in the applicable year, the amount equal to the change in fair value as of the vesting date (from the end of the prior fiscal year); (iv) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (v) the value of dividends or other earnings paid on stock or option awards not otherwise reflected in fair value or total compensation. The amounts deducted or added in calculating the equity award adjustments are as follows:
CEO
 
 
YE Fair Value of
Equity Awards
Granted During
the Year
Year Over Year
Change in Fair
Value of
Outstanding and
Unvested Equity
Awards
Change in Fair
Value of Equity
Awards Granted
in Prior Years
That Vested in the
Year
Fair Value at the
End of the Prior
Year of Equity
Awards That Failed
to Meet Vesting
Conditions in the
Year
Value of
Dividends Paid
on Equity
Awards Not
Otherwise
Reflected In
Fair Value or
Total
Compensation
Total Equity
Award
Adjustments
2023
6,591,071
3,018,854
446,310
(1,192,184)
101,967
8,966,018
2022
1,593,082
(5,564,969)
(169,450)
50,604
(4,090,733)
2021
8,150,404
2,057,167
92,762
16,569
10,316,902
2020
1,755,048
(150,041)
12,258
1,617,265
Other Named Executive Officers (Average)
 
 
YE Fair Value of
Equity Awards
Granted During
the Year
Year Over Year
Change in Fair
Value of
Outstanding and
Unvested Equity
Awards
Change in Fair
Value of Equity
Awards Granted
in Prior Years
That Vested in the
Year
Fair Value at the
End of the Prior
Year of Equity
Awards That Failed
to Meet Vesting
Conditions in the
Year
Value of
Dividends Paid
on Equity
Awards Not
Otherwise
Reflected in
Fair Value or
Total
Compensation
Total Equity
Award
Adjustments
2023
1,100,768
560,603
75,157
(203,203)
17,388
1,550,714
2022
212,507
(948,659)
14,620
(132,820)
9,321
(845,031)
2021
1,637,440
437,900
36,177
3,259
2,114,776
2020
345,278
(34,332)
(1,676)
309,270
3.
Reflects the cumulative TSR of the Corporation and the cumulative TSR of the Office Furniture Industry Group (OFIG) peer group used for the purposes of the Performance Graph in our 2023 Annual Report for the one fiscal year ended January 2, 2021, the two fiscal years ended January 1, 2022 the three years ended December 31, 2022, and the four years ended December 30, 2023 assuming a $100 investment at the closing price on December 27, 2019 and the reinvestment of all dividends. Given HNI Corporation’s acquisition of Kimball International in 2023, the OFIG peer group has been adjusted to exclude Kimball International and continues to include MillerKnoll and Steelcase.
4.
GAAP Net Income as disclosed in our Annual Report on Form 10-K.
5.
See the CD&A, which begins on page 28, for a description of the manner in which the Corporation has calculated Adjusted EBIT and Adjusted EBITDA from its audited financial statements.
     
Company Selected Measure Name Adjusted EBIT      
Named Executive Officers, Footnote
1.
For each year shown, the CEO was Mr. Lorenger. For 2023, the other NEOs were Mr. Bridges, Mr. Berger, Mr. Bradford, and Mr. Bullock. For 2022, the other NEOs were Mr. Bridges, Mr. Berger, Mr. Bradford, Mr. Bullock, and Mr. Tjaden. For 2021 and 2020, the other NEOs were Mr. Bridges, Mr. Berger, Mr. Bradford, and Mr. Tjaden. The values reflected in this column reflect the “Total” compensation set forth in the Summary Compensation Table (SCT) for each applicable year. See the footnotes to the SCT for further detail regarding the amounts in this column.
     
Peer Group Issuers, Footnote
3.
Reflects the cumulative TSR of the Corporation and the cumulative TSR of the Office Furniture Industry Group (OFIG) peer group used for the purposes of the Performance Graph in our 2023 Annual Report for the one fiscal year ended January 2, 2021, the two fiscal years ended January 1, 2022 the three years ended December 31, 2022, and the four years ended December 30, 2023 assuming a $100 investment at the closing price on December 27, 2019 and the reinvestment of all dividends. Given HNI Corporation’s acquisition of Kimball International in 2023, the OFIG peer group has been adjusted to exclude Kimball International and continues to include MillerKnoll and Steelcase.
     
PEO Total Compensation Amount $ 7,102,944 $ 5,675,554 $ 9,132,815 $ 4,907,623
PEO Actually Paid Compensation Amount $ 12,515,492 (1,815,166) 12,666,026 3,421,825
Adjustment To PEO Compensation, Footnote
2.
Calculated in accordance with Item 402(v) of Regulation S-K. Compensation actually paid (“CAP”) is defined by the SEC and is computed by subtracting the amounts in the “Stock Awards” and “Option Awards” columns of the SCT for each year from the “Total” column of the SCT and then making the equity award adjustments described below, all of which are computed in a manner consistent with the fair value methodology used to account for share-based payments in the Company’s GAAP financial statements. The following tables reflect the adjustments made to SCT total compensation to compute CAP for the CEO and average CAP for the other NEOs.
CEO
 
 
SCT Total
Comp
SCT Equity
Awards
Equity Award
Adjustments
(a)
CAP
2023
7,102,944
(3,553,470)
8,966,018
12,515,492
2022
5,675,554
(3,399,987)
(4,090,733)
(1,815,166)
2021
9,132,815
(6,783,691)
10,316,902
12,666,026
2020
4,907,623
(3,103,063)
1,617,265
3,421,825
a.
The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change in fair value as of the end of the applicable year (from the end of the prior fiscal year) of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards granted in prior years that vest in the applicable year, the amount equal to the change in fair value as of the vesting date (from the end of the prior fiscal year); (iv) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (v) the value of dividends or other earnings paid on stock or option awards not otherwise reflected in fair value or total compensation. The amounts deducted or added in calculating the equity award adjustments are as follows:
CEO
 
 
YE Fair Value of
Equity Awards
Granted During
the Year
Year Over Year
Change in Fair
Value of
Outstanding and
Unvested Equity
Awards
Change in Fair
Value of Equity
Awards Granted
in Prior Years
That Vested in the
Year
Fair Value at the
End of the Prior
Year of Equity
Awards That Failed
to Meet Vesting
Conditions in the
Year
Value of
Dividends Paid
on Equity
Awards Not
Otherwise
Reflected In
Fair Value or
Total
Compensation
Total Equity
Award
Adjustments
2023
6,591,071
3,018,854
446,310
(1,192,184)
101,967
8,966,018
2022
1,593,082
(5,564,969)
(169,450)
50,604
(4,090,733)
2021
8,150,404
2,057,167
92,762
16,569
10,316,902
2020
1,755,048
(150,041)
12,258
1,617,265
     
Non-PEO NEO Average Total Compensation Amount $ 1,781,035 1,405,252 2,352,863 1,491,383
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,738,287 106,684 3,104,883 1,190,173
Adjustment to Non-PEO NEO Compensation Footnote
2.
Calculated in accordance with Item 402(v) of Regulation S-K. Compensation actually paid (“CAP”) is defined by the SEC and is computed by subtracting the amounts in the “Stock Awards” and “Option Awards” columns of the SCT for each year from the “Total” column of the SCT and then making the equity award adjustments described below, all of which are computed in a manner consistent with the fair value methodology used to account for share-based payments in the Company’s GAAP financial statements. The following tables reflect the adjustments made to SCT total compensation to compute CAP for the CEO and average CAP for the other NEOs.
Other Named Executive Officers (Average)
 
 
SCT Total
Comp
SCT Equity
Awards
Equity Award
Adjustments
(a)
CAP
2023
1,781,035
(593,461)
1,550,714
2,738,287
2022
1,405,252
(453,537)
(845,031)
106,684
2021
2,352,863
(1,362,756)
2,114,776
3,104,883
2020
1,491,383
(610,480)
309,270
1,190,173
a.
The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change in fair value as of the end of the applicable year (from the end of the prior fiscal year) of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards granted in prior years that vest in the applicable year, the amount equal to the change in fair value as of the vesting date (from the end of the prior fiscal year); (iv) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (v) the value of dividends or other earnings paid on stock or option awards not otherwise reflected in fair value or total compensation. The amounts deducted or added in calculating the equity award adjustments are as follows:
Other Named Executive Officers (Average)
 
 
YE Fair Value of
Equity Awards
Granted During
the Year
Year Over Year
Change in Fair
Value of
Outstanding and
Unvested Equity
Awards
Change in Fair
Value of Equity
Awards Granted
in Prior Years
That Vested in the
Year
Fair Value at the
End of the Prior
Year of Equity
Awards That Failed
to Meet Vesting
Conditions in the
Year
Value of
Dividends Paid
on Equity
Awards Not
Otherwise
Reflected in
Fair Value or
Total
Compensation
Total Equity
Award
Adjustments
2023
1,100,768
560,603
75,157
(203,203)
17,388
1,550,714
2022
212,507
(948,659)
14,620
(132,820)
9,321
(845,031)
2021
1,637,440
437,900
36,177
3,259
2,114,776
2020
345,278
(34,332)
(1,676)
309,270
     
Compensation Actually Paid vs. Total Shareholder Return
Relationship of CAP to Performance
The following graphs illustrate the relationship during 2020-2023 of the CAP to the CEO and the average CAP to the other NEOs, to (i) the Corporation's cumulative TSR and the cumulative TSR of the Office Furniture Industry Group (OFIG) peer group used for the purposes of the Performance Graph in our Annual Report on Form 10-K filing, (ii) the Corporation's GAAP net income, and (iii) the Corporation's Adjusted EBIT.
     
Compensation Actually Paid vs. Net Income
Relationship of CAP to Performance
The following graphs illustrate the relationship during 2020-2023 of the CAP to the CEO and the average CAP to the other NEOs, to (i) the Corporation's cumulative TSR and the cumulative TSR of the Office Furniture Industry Group (OFIG) peer group used for the purposes of the Performance Graph in our Annual Report on Form 10-K filing, (ii) the Corporation's GAAP net income, and (iii) the Corporation's Adjusted EBIT.
     
Compensation Actually Paid vs. Company Selected Measure
Relationship of CAP to Performance
The following graphs illustrate the relationship during 2020-2023 of the CAP to the CEO and the average CAP to the other NEOs, to (i) the Corporation's cumulative TSR and the cumulative TSR of the Office Furniture Industry Group (OFIG) peer group used for the purposes of the Performance Graph in our Annual Report on Form 10-K filing, (ii) the Corporation's GAAP net income, and (iii) the Corporation's Adjusted EBIT.
     
Total Shareholder Return Vs Peer Group
Relationship of CAP to Performance
The following graphs illustrate the relationship during 2020-2023 of the CAP to the CEO and the average CAP to the other NEOs, to (i) the Corporation's cumulative TSR and the cumulative TSR of the Office Furniture Industry Group (OFIG) peer group used for the purposes of the Performance Graph in our Annual Report on Form 10-K filing, (ii) the Corporation's GAAP net income, and (iii) the Corporation's Adjusted EBIT.
     
Tabular List, Table
Financial Performance Measures
The most important financial performance measures used by the Corporation in 2023 related to CAP based on Corporation performance are listed below. The Corporation used two financial performance measures in 2023: Adjusted EBITDA and Adjusted EBIT. See the CD&A, which begins on page 28, for a description of the manner in which the Corporation has calculated Adjusted EBIT and Adjusted EBITDA from its audited financial statements. In addition, the Corporation used two non-financial strategic objectives in 2023 in determining performance-based compensation: achievement of corporate sustainability initiatives and achievement of diversity, equity and inclusion initiatives.
Adjusted EBIT
Adjusted EBITDA
Corporate sustainability initiatives
Diversity, equity and inclusion initiatives
     
Total Shareholder Return Amount $ 129 84 120 96
Peer Group Total Shareholder Return Amount 65 44 78 75
Net Income (Loss) $ 49,226,000 $ 123,873,000 $ 59,814,000 $ 41,917,000
Company Selected Measure Amount 178,123,000 128,359,000 100,728,000 107,028,000
PEO Name Mr. Lorenger Mr. Lorenger Mr. Lorenger Mr. Lorenger
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted EBIT      
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted EBITDA      
Measure:: 3        
Pay vs Performance Disclosure        
Name Corporate sustainability initiatives      
Measure:: 4        
Pay vs Performance Disclosure        
Name Diversity, equity and inclusion initiatives      
PEO | SCT Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (3,553,470) $ (3,399,987) $ (6,783,691) $ (3,103,063)
PEO | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 8,966,018 (4,090,733) 10,316,902 1,617,265
PEO | YE Fair Value of Equity Awards Granted During the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 6,591,071 1,593,082 8,150,404 1,755,048
PEO | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,018,854 (5,564,969) 2,057,167 (150,041)
PEO | Change in Fair Value of Equity Awards Granted in Prior Years That Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 446,310 (169,450) 92,762 12,258
PEO | Fair Value at the End of the Prior Year of Equity Awards That Failed to Meet Vesting Conditions in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,192,184) 0 0 0
PEO | Value of Dividends Paid on Equity Awards Not Otherwise Reflected In Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 101,967 50,604 16,569 0
Non-PEO NEO | SCT Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (593,461) (453,537) (1,362,756) (610,480)
Non-PEO NEO | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,550,714 (845,031) 2,114,776 309,270
Non-PEO NEO | YE Fair Value of Equity Awards Granted During the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,100,768 212,507 1,637,440 345,278
Non-PEO NEO | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 560,603 (948,659) 437,900 (34,332)
Non-PEO NEO | Change in Fair Value of Equity Awards Granted in Prior Years That Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 75,157 14,620 36,177 (1,676)
Non-PEO NEO | Fair Value at the End of the Prior Year of Equity Awards That Failed to Meet Vesting Conditions in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (203,203) (132,820) 0 0
Non-PEO NEO | Value of Dividends Paid on Equity Awards Not Otherwise Reflected In Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 17,388 $ 9,321 $ 3,259 $ 0