MillerKnoll Shareholders Approve Incentive Plan as Fiscal 2026 Sales Rise 5%

Key Points

• Shareholders approved all four management proposals, including three director elections, executive compensation, KPMG’s appointment as auditor and a new long-term incentive plan.
• MillerKnoll’s fiscal 2026 net sales rose 5% to $3.84 billion; the company reported adjusted diluted EPS of $1.86, generated $200 million in operating cash flow, reduced debt by $41 million and returned about $67 million to shareholders.
• For fiscal 2027, management will prioritize profitable growth through tighter operational and cost discipline, improved capital allocation and continued debt reduction, while expanding products, showrooms and retail locations.

MillerKnoll NASDAQ: MLKN shareholders approved all four management-backed proposals at the company’s 2026 annual meeting, including the election of three directors, executive compensation, the appointment of KPMG LLP as independent auditor and a new long-term incentive plan.

Board Chair John Hoke said approximately 94% of outstanding shares were represented at the meeting, either in person or by proxy. Jeanne Gang, Mike R. Smith and Claire Spofford were elected to three-year terms that will run through the company’s 2029 annual shareholder meeting.

Shareholders also approved, on an advisory basis, compensation for MillerKnoll’s named executive officers. In addition, they ratified KPMG LLP as the company’s registered public accounting firm for the fiscal year ending May 29, 2027, and approved the MillerKnoll Inc. 2026 long-term incentive plan.

Fiscal 2026 Results

Following the formal business portion of the meeting, Interim Chief Executive Officer Jeff Stutz said the company finished fiscal 2026 with net sales of $3.84 billion, representing a 5% increase from the prior year.

MillerKnoll reported diluted earnings per share of $1.32 on a reported basis and adjusted diluted earnings per share of $1.86, Stutz said.

For the full fiscal year, the company generated $200 million in cash flow from operations and invested $122 million in capital expenditures. MillerKnoll also reduced total outstanding debt by $41 million and returned approximately $67 million to shareholders through dividends and share repurchases, according to Stutz.

Fiscal 2027 Priorities

Stutz outlined three areas of focus for fiscal 2027: increasing operational discipline, maintaining cost discipline and sharpening the company’s approach to capital allocation, cash flow and balance-sheet strength.

• Concentrate resources on initiatives that management believes can create the greatest shareholder value.
• Align expenses with revenue levels while maintaining rigorous cost controls.
• Support debt reduction while preserving the ability to invest in growth.

“Our number one priority is growing profitably and driving value for our associates and shareholders,” Stutz said.

Product, Showroom and Retail Expansion

Stutz said MillerKnoll’s design-driven brands introduced new products across its contract and retail channels during the year. At the Design Days trade show in Chicago, the company debuted more than 40 product lines and extensions, spanning healthcare, workplace and residential offerings.

The company operates in more than 100 countries and is supported by its dealer network and international footprint, Stutz said. During the past year, MillerKnoll invested in its global showroom network, including an expansion of its Chicago flagship and updates in New York, Monterrey, São Paulo and Shanghai.

In retail, the company opened 15 new Design Within Reach and Herman Miller locations across priority U.S. markets. Stutz said the additions reflect MillerKnoll’s commitment to expanding the retail channel and introducing its designs to new audiences.

Recognition and Outlook

MillerKnoll was named to TIME magazine’s list of America’s Best Companies for 2026, according to Stutz. He also cited recognition from Civic 50 Points of Light as one of the 50 most community-minded companies in the United States and inclusion on Forbes’ 2026 list of America’s Best Employers for Company Culture.

As the company marks its fifth anniversary as MillerKnoll, Stutz said management intends to maintain its focus on profitable growth and value creation. No shareholder questions were submitted during the meeting.

About MillerKnoll (NASDAQ:MLKN)

MillerKnoll, Inc is a global design company that develops furnishings and related products for workplaces, homes, healthcare facilities, educational institutions and hospitality environments. Its offerings include seating, desks, tables, storage, lighting, textiles and accessories, as well as solutions designed to support collaboration, privacy and flexible work settings.

The company's portfolio includes brands such as Herman Miller, Knoll, Design Within Reach, Muuto, HAY, Maharam and Colebrook Bosson Saunders.

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