---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-027805"
form_type: "8-K"
ticker: "HNI"
cik: "0000048287"
company_name: "HNI CORP"
filed_at: "2023-06-01T23:59:59+00:00"
generated_at: "2026-06-14T09:53:51.933465+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# HNI Corp closes Kimball International acquisition for $9 cash + 0.1301 shares per share; proforma revenue ~$3B

## Summary
- Kimball shareholders receive $9 cash + 0.1301 HNI shares per share; HNI assumed equity plan with ~1.1M shares.
- Proforma revenue of ~$3.0B and combined EBITDA of ~$305M, including $25M in synergies expected within 3 years.
- HNI amended credit agreements, increasing term loan by $20M and revolver by $25M to finance the merger.
- Kimball's board and most officers ceased; certain officers remain including COO Kourtney Smith and EVP Gregory Meunier.

## SEC filing metadata
- accession: 0001140361-23-027805
- form_type: 8-K
- ticker: HNI
- cik: 0000048287
- company_name: HNI CORP
- filed_at: 2023-06-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/48287/000114036123027805/0001140361-23-027805-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/48287/000114036123027805/brhc20053833_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-027805
- JSON: https://secwatch.observer/filing/0001140361-23-027805.json
- Plain text: https://secwatch.observer/filing/0001140361-23-027805.txt

## Key facts
- Executive change
  Lonnie Nicholson was appointed as Chief Human Resources Officer at HNI CORP.
  - Action: remain
  - Role: Chief Human Resources Officer
  source text: the following who will remain officers of Kimball International: Kourtney Smith, Chief Operating Officer, Gregory Meunier, EVP Global Operations, Lonnie Nicholson, Chief Human Resources Officer, Michael Roch, Chief Customer Officer Workplace & Health, and Chris Robison, President of Poppin.
  evidence_url: https://www.sec.gov/Archives/edgar/data/48287/000114036123027805/0001140361-23-027805-index.htm
- Executive change
  Gregory Meunier was appointed as EVP Global Operations at HNI CORP.
  - Action: remain
  - Role: EVP Global Operations
  source text: the following who will remain officers of Kimball International: Kourtney Smith, Chief Operating Officer, Gregory Meunier, EVP Global Operations, Lonnie Nicholson, Chief Human Resources Officer, Michael Roch, Chief Customer Officer Workplace & Health, and Chris Robison, President of Poppin.
  evidence_url: https://www.sec.gov/Archives/edgar/data/48287/000114036123027805/0001140361-23-027805-index.htm
- Executive change
  Kourtney Smith was appointed as Chief Operating Officer at HNI CORP.
  - Action: remain
  - Role: Chief Operating Officer
  source text: the following who will remain officers of Kimball International: Kourtney Smith, Chief Operating Officer, Gregory Meunier, EVP Global Operations, Lonnie Nicholson, Chief Human Resources Officer, Michael Roch, Chief Customer Officer Workplace & Health, and Chris Robison, President of Poppin.
  evidence_url: https://www.sec.gov/Archives/edgar/data/48287/000114036123027805/0001140361-23-027805-index.htm
- Executive change
  Michael Roch was appointed as Chief Customer Officer Workplace & Health at HNI CORP.
  - Action: remain
  - Role: Chief Customer Officer Workplace & Health
  source text: the following who will remain officers of Kimball International: Kourtney Smith, Chief Operating Officer, Gregory Meunier, EVP Global Operations, Lonnie Nicholson, Chief Human Resources Officer, Michael Roch, Chief Customer Officer Workplace & Health, and Chris Robison, President of Poppin.
  evidence_url: https://www.sec.gov/Archives/edgar/data/48287/000114036123027805/0001140361-23-027805-index.htm
- Executive change
  Chris Robison was appointed as President of Poppin at HNI CORP.
  - Action: remain
  - Role: President of Poppin
  source text: the following who will remain officers of Kimball International: Kourtney Smith, Chief Operating Officer, Gregory Meunier, EVP Global Operations, Lonnie Nicholson, Chief Human Resources Officer, Michael Roch, Chief Customer Officer Workplace & Health, and Chris Robison, President of Poppin.
  evidence_url: https://www.sec.gov/Archives/edgar/data/48287/000114036123027805/0001140361-23-027805-index.htm
- M&A Transactions
  HNI CORP completed an acquisition involving Kimball International, Inc. for $9.00 in cash and 0.1301 shares of HNI common stock per share (closed 2023-06-01).
  - Action: acquisition
  - Counterparty: Kimball International, Inc.
  - Consideration: $9.00 in cash and 0.1301 shares of HNI common stock per share
  - Closing: 2023-06-01
  source text: law, and (d) certain shares of Kimball Common Stock subject to long-term incentive awards (collectively, the “ Excluded Shares ”)), was converted into the right to receive (i) $9.00 in cash (the “ Cash Consideration ”) and (ii) 0.1301 of a validly issued, fully paid and nonassessable share of common stock of HNI, par value $1.00 per share (“ HNI Common Stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/48287/000114036123027805/0001140361-23-027805-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.