HNI Corp 2025年度报告

2025 ANNUAL REPORT Stock Performance Graph Annual Return The Office Furniture Industry Group (OFIG) is a composite peer index constructed by the Corporation weighted bymarket capitalization and comprised of the following companies: MillerKnoll, Inc. and Steelcase Inc. The Corporationacquired Steelcase Inc. on December 10, 2025. It is weighted at the beginning of each year according to the marketcapitalization of its constituents on the last trading day of the Corporation's prior fiscal year. Total returns for HNI Corporation, S&P 500 and OFIG are depicted at the end of Corporation's fiscal years. The total returnassumes $100.00 invested in each of the Corporation’s common stock, the S&P 500 and OFIG stocks at the end of theCorporation's 2019 fiscal year, plus further reinvestment of dividends on the date of dividend payment. S&P 500 returnsassume S&P 500 dividends are paid and reinvested on the last trading day of each of the Corporation's fiscal quarters. The comparative performance of the Corporation’s common stock against the indexes as depicted in this graph isdependent on the price of stock at a particular measurement point in time. Since individual stocks are more volatile thanbroader stock indexes, the perceived comparative performance of the Corporation’s common stock may vary based onthe strength or weakness of the stock price at the new measurement point used in each future performance graph. Forthis reason, the Corporation does not believe this graph should be considered as the sole indicator of the Corporation'sperformance. UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended January 3, 2026OR□TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission file number: 1-14225HNI Corporation (Exact name of registrant as specified in its charter) 600 East Second StreetP. O. Box 1109Muscatine, Iowa 52761-0071(Address of principal executive offices) (Zip Code)(563 272-7400)(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act: None. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒No□ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes□No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements forthe past 90 days. Yes☒No□ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No□ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer,’’ ‘‘smaller reporting company,’’ and ‘‘emerging growth company’’ inRule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer ☒Accelerated filer□Smaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.□ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its auditreport.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filingreflect the correction of an error to previously issued financial statements.□ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes□No☒ The aggregate market value of the voting stock held by non-affiliates of the registrant as of June 28, 2025 (the last business day of the registrant’s most recentlycompleted second fiscal quarter) was $1,653,610,031 based on the New York Stock Exchange closing price for such shares on that date, assuming for purposesof this calculation that a