Interface Inc. Files Definitive Proxy Statement (DEF 14A)

Ticker: TILE · Form: DEF 14A · Filed: Apr 1, 2024 · CIK: 715787

Interface Inc DEF 14A Filing Summary
FieldDetail
CompanyInterface Inc (TILE)
Form TypeDEF 14A
Filed DateApr 1, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$105 million, $417 million, $307 million
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Interface Inc., Proxy Statement, Executive Compensation, Corporate Governance

TL;DR

<b>Interface Inc. has filed its Definitive Proxy Statement (DEF 14A) for the fiscal year ending December 31, 2023.</b>

AI Summary

INTERFACE INC (TILE) filed a Proxy Statement (DEF 14A) with the SEC on April 1, 2024. Filing type: DEF 14A (Definitive Proxy Statement). Filer: Interface Inc. (CIK: 0000715787). Reporting Period: Fiscal year ending December 31, 2023. Filing Date: April 1, 2024. SIC Code: 2273 (Carpets and Rugs).

Why It Matters

For investors and stakeholders tracking INTERFACE INC, this filing contains several important signals. This filing provides detailed information on executive compensation, board of directors, and shareholder proposals, which are crucial for investors to understand governance and potential future strategies. As a DEF 14A filing, it signifies the company is seeking shareholder approval for matters such as director elections and other corporate actions, impacting the company's direction and management.

Risk Assessment

Risk Level: low — INTERFACE INC shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures without immediate financial or operational news, thus posing low risk.

Analyst Insight

Review the executive compensation details and any shareholder proposals to assess management's alignment with shareholder interests and potential governance changes.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Reporting period)
  • 2024-04-01 — Filing Date (Date of submission)
  • 2024-05-13 — Period of Report (Conformed period of report)

Key Players & Entities

  • INTERFACE INC (company) — Filer name
  • 0000715787 (company) — Central Index Key (CIK)
  • 2273 (company) — Standard Industrial Classification (SIC)
  • GA (company) — State of Incorporation
  • 1934 Act (regulator) — SEC Act
  • 001-33994 (company) — SEC File Number

FAQ

When did INTERFACE INC file this DEF 14A?

INTERFACE INC filed this Proxy Statement (DEF 14A) with the SEC on April 1, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by INTERFACE INC (TILE).

Where can I read the original DEF 14A filing from INTERFACE INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by INTERFACE INC.

What are the key takeaways from INTERFACE INC's DEF 14A?

INTERFACE INC filed this DEF 14A on April 1, 2024. Key takeaways: Filing type: DEF 14A (Definitive Proxy Statement). Filer: Interface Inc. (CIK: 0000715787). Reporting Period: Fiscal year ending December 31, 2023.

Is INTERFACE INC a risky investment based on this filing?

Based on this DEF 14A, INTERFACE INC presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosures without immediate financial or operational news, thus posing low risk.

What should investors do after reading INTERFACE INC's DEF 14A?

Review the executive compensation details and any shareholder proposals to assess management's alignment with shareholder interests and potential governance changes. The overall sentiment from this filing is neutral.

How does INTERFACE INC compare to its industry peers?

Interface Inc. operates in the carpets and rugs manufacturing industry.

Are there regulatory concerns for INTERFACE INC?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders.

Industry Context

Interface Inc. operates in the carpets and rugs manufacturing industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders.

What Investors Should Do

  1. Analyze the compensation packages for named executive officers.
  2. Review the proposals being submitted for shareholder vote.
  3. Examine the composition and independence of the Board of Directors.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure document for annual meetings and does not represent a change from previous filings of the same type.

Filing Stats: 4,487 words · 18 min read · ~15 pages · Grade level 12.8 · Accepted 2024-04-01 16:10:00

Key Financial Figures

  • $105 million — generated strong cash flows and repaid $105 million of debt. We ended the year with total d
  • $417 million — t. We ended the year with total debt of $417 million and net debt of $307 million. YEAR END
  • $307 million — al debt of $417 million and net debt of $307 million. YEAR END TOTAL DEBT ($ in millions)

Filing Documents

Executive Compensation

Executive Compensation 36 CEO Pay Ratio 46 Pay Versus Performance 47 Director Compensation 51 Equity Compensation Plan Information 52 APPROVAL OF AMENDMENT AND RESTATEMENT OF THE 2020 OMNIBUS STOCK INCENTIVE PLAN (ITEM 3) 52 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (ITEM 4) 56 Audit Committee Report 57 OTHER INFORMATION 57 General Meeting Information 57 Certain Relationships and Related Transactions 58 Prohibition on Pledging and Hedging 59 Shareholder Proposals 59 Communicating with the Board 59 "Householding" of Proxy Materials 60 Safe Harbor Statement for Forward-Looking Statements 60 Other Matters That May Come Before the Meeting 60 APPENDIX A – RECONCILIATION OF NON-GAAP FINANCIAL MEASURES 61 APPENDIX B – INTERFACE, INC. 2020 OMNIBUS STOCK INCENTIVE PLAN (AS AMENDED AND RESTATED EFFECTIVE MAY 13, 2024) 63 Page 3 PROXY STATEMENT SUMMARY The Board of Directors ("Board") of Interface, Inc. (the "Company," "we," "us," "our" or "Interface") is furnishing this Proxy Statement and soliciting proxies in connection with the proposals to be voted on at the Interface, Inc. 2024 Annual Meeting of Shareholders ("Annual Meeting") and any postponements or adjournments thereof. This summary highlights certain information contained in this Proxy Statement, but it does not contain all of the information you should consider when voting your shares. Please read the entire Proxy Statement carefully before voting. 2024 Annual Meeting Information Date Monday, May 13, 2024 Time 11:00 a.m. Eastern Time Location Interface, Inc. 1280 West Peachtree Street NW Atlanta, Georgia 30309 Record Date Friday, March 15, 2024 Stock Symbol TILE Stock Exchange NASDAQ Corporate Website www.interface.com In the event the Company changes the date, time or location of the Annual Meeting pursuant to the guidance issued by the SEC discussed above, the Company will inf

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