MillerKnoll names Jeff Stutz permanent CEO; sets $1M salary and $1.075M step-up equity grant

MILLERKNOLL, INC.

• Jeff Stutz, interim CEO since June 30, 2026 and prior COO from September 2025, appointed CEO and board member effective October 21, 2026; board expanded from 10 to 11.
• Offer letter sets $1,000,000 annual base salary, 125% target annual bonus and 400% target long-term incentive opportunity.
• One-time step-up equity grant target value $1,075,000, split 60% performance stock units and 40% restricted stock units under 2026 LTIP.
• Severance: 18 months base salary and benefits absent change in control; change-in-control cash multiple raised to 3x from 2x, benefits period to 36 months from 24.
• Chairman John R. Hoke III credited interim CEO Stutz with stronger operating income, margins and earnings; Stutz cites cost discipline and balance sheet strength.