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MillerKnoll, Inc. (NASDAQ:MLKN), a furniture company with a market capitalization of $1.14 billion and a remarkable 55-year history of consistent dividend payments, announced that at its annual meeting held Monday, shareholders approved the 2025 Long-Term Incentive Plan, replacing the previous plan approved in 2023. According to InvestingPro analysis, the company appears undervalued at current levels. The new plan authorizes the issuance of up to 21,164,945 shares through various equity-based awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance stock units, and other stock-based awards. The plan covers non-employee directors and all employees of the company and its subsidiaries, including named executive officers.
Shareholders also elected Lisa A. Kro, John T. Maeda, and Michael C. Smith to three-year terms on the board of directors. The vote totals for each nominee were as follows: Lisa A. Kro received 52,717,620 votes for and 6,532,464 votes withheld; John T. Maeda received 54,078,851 votes for and 5,171,233 votes withheld; Michael C. Smith received 53,669,469 votes for and 5,580,615 votes withheld. Each nominee received 4,664,217 broker non-votes. The company maintains strong liquidity with a current ratio of 1.67, indicating healthy financial management.
In addition, shareholders approved, on an advisory basis, the compensation paid to the company’s named executive officers. The vote was 56,495,979 in favor, 2,623,598 against, and 130,507 abstaining, with 4,664,217 broker non-votes.
The appointment of KPMG LLP as MillerKnoll’s independent registered public accounting firm for the fiscal year ending May 30, 2026, was ratified, with 63,261,543 votes for, 561,155 against, and 91,603 abstaining.
All information is based on a statement from a filing with the Securities and Exchange Commission. For deeper insights into MillerKnoll’s financial health, valuation metrics, and exclusive ProTips, visit InvestingPro, where you’ll find comprehensive analysis in our detailed Pro Research Report, available for over 1,400 US stocks.
In other recent news, MillerKnoll reported its fiscal first-quarter earnings for 2026, exceeding Wall Street expectations. The company achieved an adjusted earnings per share (EPS) of $0.45, surpassing the forecasted $0.34. Revenue for the quarter was $956 million, which also exceeded the anticipated $910.97 million. MillerKnoll demonstrated sales growth across all three of its business segments during this period. Despite these positive financial results, Benchmark has reiterated its Hold rating on the company’s stock. The analyst firm noted the solid performance but maintained its current rating. These developments highlight the company’s recent financial achievements and analyst perspectives.
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