Board Stock Ownership Guidelines
The Board has adopted stock ownership guidelines requiring the
holding of certain levels of equity interest in the Company by not
only executives, but directors as well. These guidelines require
that each director, within 5 years of election, own an equity interest
in the Company with a value equal to at least three times his or
her total annual Board compensation. Annual review of ownership
progression is carried out under the direction of the Board.
Restrictions on Hedging and Pledging Shares
Members of the Companys Board of Directors and
the Kimball Operating Performance Team are not permitted to engage
in the follow practices related to Company stock owned or controlled
- Trading in Company stock on a short-term basis all stock
must be held for at least six months;
- Engaging in short sales;
- Margin-trading, buying or selling puts or calls;
- Pledging Company stock as collateral in transactions or otherwise
to secure debt(s); or
- Engaging in hedging or monetization transactions, such as collaring
or forward sale contracts.
Related Persons Transaction Policy
Related Persons Transactions, which are limited to those described in this Policy, shall
be subject to the review and approval, ratification, modification, or rejection by the
Committee and/or the Board in accordance with this Policy, the Business Ethics Policy, or
other Company policies, when applicable. This Policy is not intended to supersede or replace
any other policy of the Company.
Review of Corporate Governance Principles
These Corporate Governance Principles are subject to
modification from time to time by the Board, based upon the recommendations
from the Compensation & Governance Committee.