Interface Inc. Updates CEO Employment Agreement
Ticker: TILE · Form: 8-K · Filed: Oct 21, 2024 · CIK: 715787
| Field | Detail |
|---|---|
| Company | Interface Inc (TILE) |
| Form Type | 8-K |
| Filed Date | Oct 21, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, employment-agreement
TL;DR
Interface Inc. just inked a new deal with CEO Brad McGann, locking in his terms.
AI Summary
Interface Inc. announced on October 16, 2024, changes in its executive compensation arrangements. Specifically, the company entered into a new employment agreement with its Chief Executive Officer, Brad G. McGann, effective October 16, 2024. The agreement outlines his salary, bonus potential, and other terms of employment.
Why It Matters
This filing details the updated employment terms for the CEO, which can impact executive compensation, company strategy, and investor confidence.
Risk Assessment
Risk Level: low — The filing primarily concerns executive employment agreements and compensation, which typically carries a low direct financial risk to the company.
Key Players & Entities
- Interface Inc. (company) — Filer of the 8-K
- Brad G. McGann (person) — Chief Executive Officer of Interface Inc.
- October 16, 2024 (date) — Effective date of the new employment agreement
FAQ
What is the effective date of the new employment agreement for Brad G. McGann?
The new employment agreement for Brad G. McGann is effective as of October 16, 2024.
Who is the Chief Executive Officer of Interface Inc. mentioned in this filing?
Brad G. McGann is the Chief Executive Officer of Interface Inc. mentioned in this filing.
What type of agreement was entered into on October 16, 2024?
An employment agreement was entered into on October 16, 2024.
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to report on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
What is the SIC code for Interface Inc. as listed in the filing?
The Standard Industrial Classification (SIC) code for Interface Inc. is 2273, which corresponds to CARPETS AND RUGS.
Filing Stats: 609 words · 2 min read · ~2 pages · Grade level 10.3 · Accepted 2024-10-21 16:00:46
Key Financial Figures
- $0.10 — ange on Which Registered Common Stock, $0.10 Par Value Per Share TILE Nasdaq Global
Filing Documents
- tile-20241016.htm (8-K) — 31KB
- a991stansfieldtaxequalizat.htm (EX-99.1) — 8KB
- 0000715787-24-000031.txt ( ) — 164KB
- tile-20241016.xsd (EX-101.SCH) — 2KB
- tile-20241016_lab.xml (EX-101.LAB) — 21KB
- tile-20241016_pre.xml (EX-101.PRE) — 12KB
- tile-20241016_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Stansfield Tax Equalization Agreement dated as of October 15, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTERFACE, INC. By: /s/ David B. Foshee David B. Foshee Vice President Date: October 21, 2024