secwatch.observer — SEC 8-K summary
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Issuer:     HNI CORP (HNI)
CIK:        0000048287
Form:       8-K
Filed at:   2024-05-20T23:59:59+00:00
Accession:  0001140361-24-026875
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.05, 2.06, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HNI to close Hickory plant, consolidates production; charges $10.3M, saves ~$11M annually
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- Hickory, NC plant closing in H1 2025; ~200 production/ops positions affected; HBF brand HQ remains in Hickory.
- Annual savings estimated at ~$11M when fully mature in 2026; $8-9M expected in 2025.
- Total cost synergies from Kimball International acquisition now $50M, including $11M from this consolidation and ~$4M from procurement.
- Pre-tax charges of $10.3M over 2024-2025 ($8.5M in 2024, $1.8M in 2025); $1.5M non-cash.
- Shareholders elected three directors, ratified KPMG as auditor, and approved advisory say-on-pay and equity plan increase.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48287/000114036124026875/0001140361-24-026875-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48287/000114036124026875/ef20029475_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-026875

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