Business Context and Reporting Period
This Form 8-K is a current report filed by MillerKnoll, Inc. on October 16, 2025. The filing primarily addresses corporate governance changes, specifically the permanent appointment of the Chief Financial Officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation and appointment details.
Material Changes
The material change reported is the transition of Kevin Veltman from Interim CFO to permanent CFO, effective October 16, 2025. This follows his interim appointment announced on September 5, 2025.
Management Commentary and Compensation Details
In connection with Mr. Veltman's permanent appointment, the following compensatory arrangements were established:
- Base Salary: Increased to $520,000 annually.
- Annual Incentive Plan (AIP): Target award set at 75% of base salary for fiscal 2026.
- Long-Term Incentive (LTI): Target award increased to 185% of base salary (effective in the next grant cycle).
- One-Time Equity Award: Valued at $500,000, split 50% in Performance Share Units (PSUs) and 50% in Restricted Stock Units (RSUs).
Mr. Veltman previously served as Senior Vice President, Finance – North America Contract (June 2023–September 2025) and led the post-merger integration with Knoll (May 2021–June 2023). He has been with the company since October 2014.
Investor Verification Checklist
- Verify the exact vesting schedule and performance metrics for the $500,000 one-time equity award.
- Confirm the specific grant cycle date for the new LTI target award.
- Review the September 5, 2025 Form 8-K for details on the interim CFO appointment context.
- Check for any related party transaction disclosures regarding Mr. Veltman's prior roles.