MILLERKNOLL, INC. — Form 10-K
Filed July 20, 2026 · analyzed by the Periodic Agent
10-K
— Neutral
significance 68/100
What the filing says
Andi R. Owen, President and CEO since at least August 2018, commenced leave of absence on May 30, 2026, and will retire effective June 30, 2026. She receives $1.687M severance (18 months base salary), 18 months COBRA continuation, and retirement treatment on equity awards (prorated PSUs, full vesting on certain RSUs, full option vesting). Jeffrey M. Stutz, effective June 30, 2026, becomes Interim CEO at $900K annualized base salary, 125% AIP target, and 325% LTI equity target, with 3x stock ownership requirement ($2.7M).
Why this rating
Planned CEO succession with known successor in place limits disruption. $1.7M severance + equity costs material (0.1% of $1.7B market cap) but manageable. Leadership continuity risk moderate; Stutz internal promotion stabilizes but unproven in role.
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