Velarion · Company Intelligence
Compensation Brief
Fiscal year 2026 · Filings through 2026-08-28

Millerknoll (MLKN)

Fiscal year 2026 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$6,139,932
Andi Owen total, FY2026
18th
CEO pay percentile vs peers
93:1
CEO-to-median pay ratio
95.56%
Say-on-pay support, latest vote
Companies that benchmark against MLKN
8 companies name MLKN as a compensation peer

Each company listed discloses MLKN in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named MLKN in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2026

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Andi Owen$1,121,538$0$4,174,091$0$709,513$0$134,790$6,139,932
President and Chief Executive Officer
Jeffrey Stutz628,59601,199,3770301,447041,3652,170,785
Chief Financial Officer
John Michael603,20001,052,2490286,188037,7461,979,383
President, North America Contract
Debbie Propst603,20001,052,2490228,960033,6461,918,055
President, Global Retail
Megan Lyon572,9230913,6050202,969041,5011,730,998
Chief Strategy and Technology Officer
Kevin Veltman473,6020515,4220170,000027,2731,186,297
Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2026 totalFY2025 totalFY2024 totalΔ FY20252026
Andi Owen$6,139,932$6,429,976$8,957,907−290,044
Jeffrey Stutz2,170,7852,018,7252,928,111+152,060
John Michael1,979,3831,875,8422,917,890+103,541
Debbie Propst1,918,0551,889,2423,364,221+28,813
Megan Lyon1,730,998
Kevin Veltman1,186,297

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2026

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Megan LyonRSU2025-07-1527,487$542,044
Debbie PropstRSU2025-07-1531,266616,566
Debbie PropstPSU2025-07-1523,00423,00446,008435,683
John MichaelRSU2025-07-1531,266616,566
Andi OwenPSU2025-07-15116,366116,366232,7322,225,025
Kevin VeltmanPSU2025-07-151,5111,5113,02227,691
Kevin VeltmanRSU2025-07-157,815154,112
Kevin VeltmanPSU2025-10-225,1375,13710,27483,322
Kevin VeltmanRSU2025-10-2214,663250,297
Megan LyonPSU2025-07-1519,63619,63639,272371,561
John MichaelPSU2025-07-1523,00423,00446,008435,683
Andi OwenRSU2025-07-1598,8371,949,066
Jeffrey StutzRSU2025-07-1536,047710,847
Jeffrey StutzPSU2025-07-1525,81725,81751,634488,530
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Megan Lyon$542,044$371,561$040.7%
Debbie Propst616,566435,683041.4%
John Michael616,566435,683041.4%
Andi Owen1,949,0662,225,025053.3%
Kevin Veltman404,409111,013021.5%
Jeffrey Stutz710,847488,530040.7%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2026

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Megan LyonOption37,96120
Kevin VeltmanOption5,46620
Andi OwenPSU65,3721,057,719
Andi OwenPSU185,1072,995,031
Andi OwenRSU89,2421,443,936
John MichaelPSU37,714610,213
Andi OwenRSU69,0981,118,006
Andi OwenRSU49,382799,001
John MichaelRSU32,289522,436
Andi OwenRSU47,824773,792
Jeffrey StutzPSU42,098681,146
Debbie PropstPSU37,714610,213
Jeffrey StutzRSU37,226602,317
Debbie PropstRSU32,289522,436
Megan LyonPSU32,015518,003
Megan LyonRSU28,386459,285
Kevin VeltmanRSU14,975242,296
Jeffrey StutzRSU14,796239,399
Jeffrey StutzPSU13,972226,067
John MichaelRSU12,869208,220
Debbie PropstRSU12,869208,220
John MichaelPSU12,730205,971
Debbie PropstPSU12,730205,971
Jeffrey StutzRSU11,897192,493
John MichaelRSU11,897192,493
Debbie PropstRSU11,897192,493
Megan LyonPSU10,605171,589
Megan LyonRSU11,261182,203
Jeffrey StutzOption50,29920
John MichaelOption50,29920
Debbie PropstOption50,29920
Kevin VeltmanPSU10,274166,233
Megan LyonRSU8,979145,280
Megan LyonRSU6,696108,341
Jeffrey StutzRSU8,872143,549
Kevin VeltmanPSU1,99332,247
John MichaelRSU8,872143,549
Debbie PropstRSU8,872143,549
Kevin VeltmanRSU8,071130,589
Kevin VeltmanRSU1,59725,839
Kevin VeltmanPSU1,51124,448
Kevin VeltmanRSU1,29320,921
Kevin VeltmanRSU96415,598
05

Incentive-plan design — the Compensation Discussion & Analysis

MillerKnoll's compensation philosophy is to reward executives for meeting financial and operational goals that create shareholder value, with target compensation levels generally reflecting median market rates. The program aims to align executive interests with long-term shareholder interests, link a material portion of pay to performance, and attract and retain outstanding talent.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantPay Governance LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-10-1356,495,9792,623,598130,50795.56%Passed
20242024-10-1457,975,0812,430,291243,90595.98%Passed
20232023-10-1656,200,2715,797,64971,17990.65%Passed
20222022-10-1761,482,5214,064,691182,42893.8%Passed
20212021-10-1157,773,9096,297,976112,19990.17%Passed
20202020-10-1246,328,8471,312,743221,02797.24%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20252025-10-1395.56%a
20242024-10-1495.98%b
20232023-10-1690.65%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not counted as votes cast either "for" or "withheld" with respect to that director's election. Abstentions and broker non-votes will not be treated as votes cast on the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes, will not be counted as votes cast but will count for purposes of determining whether or not a quorum is present.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes, will not be counted as votes cast but will count for purposes of determining whether or not a quorum is present.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)93 : 1
CEO total compensation
Median employee compensation$65,927
09

Board fee structure and ownership guideline

Annual cash retainer$240,000
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 20,000
Stock ownership guideline$2
10

Disclosed peer group — fiscal year 2026

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Millerknoll names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Millerknoll.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Wayfair, Inc.2025Niraj Shah$80,000$280,557,500$0$0$280,847,068
2Williams-Sonoma, Inc.2025Laura Alber1,600,00018,999,797012,500,00033,297,422
3Leggett & Platt, Incorporated2025Karl Glassman1,275,0006,692,31802,284,09910,893,870
4Fortune Brands Innovations, Inc.2025Nicholas Fink1,275,0006,375,0022,124,998249,90010,476,545
5Steelcase, Inc.2025Sara Armbruster1,031,2506,254,26602,434,37310,173,889
6HNI Corporation2025Jeffrey Lorenger1,056,7405,092,31601,787,4048,218,947
7Floor & Decor Holdings, Inc.2025Bradley Paulsen612,3083,700,0000528,6056,445,144
8JELD-WEN Holding, Inc.2025William Christensen1,100,0002,300,8902,284,066621,4736,283,343
9Sleep Number Corporation2025Linda Findley853,8464,104,519006,233,574
10Millerknoll2026Andi Owen1,121,5384,174,0910709,5136,139,932
11American Woodmark Corporation2025M. Scott Culbreth957,5773,208,4460696,3504,886,047
12UFP Industries, Inc.2025William Schwartz600,7501,633,99501,400,0003,716,568
La-Z-Boy Incorporatednot in coverage universe
Somnigroup International, Inc.not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Millerknollnot disclosedPSU 60 · RSU 40not disclosedPay Governance LLC
American Woodmark Corporation60.75%RSU 50 · PSU 50NoMeridian Compensation Partners
Floor & Decor Holdings, Inc.86.3%RSU 50 · PSU 50NoKorn Ferry
Fortune Brands Innovations, Inc.14.0%PSU 50 · RSU 25 · Options 25NoWillis Towers Watson (WTW)
HNI Corporation140%PSU 50 · RSU 50NoExequity LLP
JELD-WEN Holding, Inc.42%PSU 50 · RSU 25 · Options 25NoPay Governance
La-Z-Boy Incorporatednot disclosednot disclosednot disclosednot disclosed
Leggett & Platt, Incorporated132.7%PSU 60 · RSU 40Yes — relative total shareholder return (TSR)Meridian Compensation Partners, LLC
Sleep Number Corporationnot disclosedPSU 50 · RSU 50Yes — Relative TSRFrederic W. Cook & Co., Inc. (FW Cook)
Somnigroup International, Inc.not disclosednot disclosednot disclosednot disclosed
Steelcase, Inc.192%PSU 60 · RSU 40Yes — rTSRCompensation Advisory Partners (CAP)
UFP Industries, Inc.not disclosedRSU 90 · PSU 10Nonot disclosed
Wayfair, Inc.not disclosednot disclosedNoCompensia
Williams-Sonoma, Inc.157.9%PSU 63 · RSU 37NoPay Governance LLC

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Andi OwenDEF 14A2026-08-280000066382-26-000143Section “Summary Compensation Table” · page 29. As printed: 6,139,932. Filing ↗machine: r2 · c24 · span 634666–634675
2Section 01, Jeffrey StutzDEF 14A2026-08-280000066382-26-000143Section “Summary Compensation Table” · page 29. As printed: 2,170,785. Filing ↗machine: r8 · c24 · span 648360–648369
3Section 01, John MichaelDEF 14A2026-08-280000066382-26-000143Section “Summary Compensation Table” · page 29. As printed: 1,979,383. Filing ↗machine: r11 · c24 · span 657567–657576
4Section 01, Debbie PropstDEF 14A2026-08-280000066382-26-000143Section “Summary Compensation Table” · page 29. As printed: 1,918,055. Filing ↗machine: r14 · c24 · span 666584–666593
5Section 01, Megan LyonDEF 14A2026-08-280000066382-26-000143Section “Summary Compensation Table” · page 29. As printed: 1,730,998. Filing ↗machine: r17 · c24 · span 675576–675585
6Section 01, Kevin VeltmanDEF 14A2026-08-280000066382-26-000143Section “Summary Compensation Table” · page 29. As printed: 1,186,297. Filing ↗machine: r5 · c24 · span 643676–643685
7Section 03, Megan Lyon RSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 765035–765042
8Section 03, Debbie Propst RSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 757475–757482
9Section 03, Debbie Propst PSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 755417–755424
10Section 03, John Michael RSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 750347–750354
11Section 03, Andi Owen PSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 722340–722349
12Section 03, Kevin Veltman PSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 729470–729476
13Section 03, Kevin Veltman RSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 731526–731533
14Section 03, Kevin Veltman PSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 734033–734039
15Section 03, Kevin Veltman RSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 736090–736097
16Section 03, Megan Lyon PSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 762542–762549
17Section 03, John Michael PSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 748289–748296
18Section 03, Andi Owen RSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 724400–724409
19Section 03, Jeffrey Stutz RSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 743220–743227
20Section 03, Jeffrey Stutz PSUDEF 14A2026-08-280000066382-26-000143Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 741162–741169
21Section 07, pay ratioDEF 14A2026-08-280000066382-26-000143Section “CEO Pay Ratio”. As printed: 93 : 1. Filing ↗machine: span 1071781–1071783
22Section 06, 2025 voteForm 8-K2025-10-140000066382-25-000117Item 5.07 · say-on-pay result. As reported: 95.56% (votes for as printed: 56,495,979). Filing ↗
23Section 06, 2024 voteForm 8-K2024-10-150000066382-24-000093Item 5.07 · say-on-pay result. As reported: 95.98% (votes for as printed: 57,975,081). Filing ↗
24Section 06, 2023 voteForm 8-K2023-10-170000066382-23-000092Item 5.07 · say-on-pay result. As reported: 90.65% (votes for as printed: 56,200,271). Filing ↗
25Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
26Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
27Wayfair, Inc., Section 10b CEO totalDEF 14A2026-03-310001616707-26-000074CEO total compensation as printed in Wayfair, Inc.'s own proxy. As printed: 280,847,068. Filing ↗machine: t137 · r2 · c15 · span 682385–682396
28Williams-Sonoma, Inc., Section 10b CEO totalDEF 14A2026-05-060000719955-26-000109CEO total compensation as printed in Williams-Sonoma, Inc.'s own proxy. As printed: 33,297,422. Filing ↗machine: r2 · c24 · span 847173–847184
29Leggett & Platt, Incorporated, Section 10b CEO totalDEF 14A2026-04-070001193125-26-144643CEO total compensation as printed in Leggett & Platt, Incorporated's own proxy. As printed: 10,893,870. Filing ↗machine: t40 · r4 · c10 · span 1662833–1662843
30Fortune Brands Innovations, Inc., Section 10b CEO totalDEF 14A2026-03-300001193125-26-132105CEO total compensation as printed in Fortune Brands Innovations, Inc.'s own proxy. As printed: 10,476,545. Filing ↗machine: t134 · r4 · c31 · span 1680525–1680535
31Steelcase, Inc., Section 10b CEO totalDEF 14A2025-05-280001050825-25-000082CEO total compensation as printed in Steelcase, Inc.'s own proxy. As printed: 10,173,889. Filing ↗machine: span 673033–673043
32HNI Corporation, Section 10b CEO totalDEF 14A2026-03-250001140361-26-011104CEO total compensation as printed in HNI Corporation's own proxy. As printed: 8,218,947. Filing ↗machine: t142 · r2 · c25 · span 751396–751405
33Floor & Decor Holdings, Inc., Section 10b CEO totalDEF 14A2026-03-230001628280-26-020341CEO total compensation as printed in Floor & Decor Holdings, Inc.'s own proxy. As printed: 6,445,144. Filing ↗machine: r5 · c42 · span 577349–577358
34JELD-WEN Holding, Inc., Section 10b CEO totalDEF 14A2026-03-120001674335-26-000050CEO total compensation as printed in JELD-WEN Holding, Inc.'s own proxy. As printed: 6,283,343. Filing ↗machine: r4 · c10 · span 2108366–2108376
35Sleep Number Corporation, Section 10b CEO totalDEF 14A2026-04-080000827187-26-000031CEO total compensation as printed in Sleep Number Corporation's own proxy. As printed: 6,233,574. Filing ↗machine: t91 · r2 · c2 · span 1404923–1404930
36Millerknoll (subject), Section 10b CEO totalDEF 14A2026-08-280000066382-26-000143CEO total compensation as printed in Millerknoll's own proxy. As printed: 6,139,932. Filing ↗machine: r2 · c24 · span 634666–634675
37American Woodmark Corporation, Section 10b CEO totalDEF 14A2025-06-250000794619-25-000063CEO total compensation as printed in American Woodmark Corporation's own proxy. As printed: 4,886,047. Filing ↗machine: span 397216–397225
38UFP Industries, Inc., Section 10b CEO totalDEF 14A2026-03-090001140361-26-008481CEO total compensation as printed in UFP Industries, Inc.'s own proxy. As printed: 3,716,568. Filing ↗machine: r2 · c19 · span 425236–425246
39Section 10a, Leggett & Platt, Incorporated reciprocityDEF 14A0001193125-26-144643Leggett & Platt, Incorporated names Millerknoll in its own disclosed peer group (read from its most recent proxy). Filing ↗
40Section 10a, Floor & Decor Holdings, Inc. reciprocityDEF 14A0001628280-26-020341Floor & Decor Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Millerknoll. Filing ↗
41Section 10a, American Woodmark Corporation reciprocityDEF 14A0000794619-25-000063American Woodmark Corporation names Millerknoll in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, UFP Industries, Inc. reciprocityDEF 14A0001140361-26-008481UFP Industries, Inc.'s most recent proxy was read; its disclosed peer group does not include Millerknoll. Filing ↗
43Section 10a, Williams-Sonoma, Inc. reciprocityDEF 14A0000719955-26-000109Williams-Sonoma, Inc.'s most recent proxy was read; its disclosed peer group does not include Millerknoll. Filing ↗
44Section 10a, Sleep Number Corporation reciprocityDEF 14A0000827187-25-000044Sleep Number Corporation's most recent proxy was read; its disclosed peer group does not include Millerknoll. Filing ↗
45Section 10a, HNI Corporation reciprocityDEF 14A0001140361-26-011104HNI Corporation names Millerknoll in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, JELD-WEN Holding, Inc. reciprocityDEF 14A0001674335-26-000050JELD-WEN Holding, Inc.'s most recent proxy was read; its disclosed peer group does not include Millerknoll. Filing ↗