Weyco Group Inc. Files Definitive Proxy Statement

TL;DR

<b>Weyco Group Inc. has filed its Definitive Proxy Statement for the period ending May 7, 2024.</b>

AI Summary

WEYCO GROUP INC (WEYS) filed a Proxy Statement (DEF 14A) with the SEC on April 5, 2024. Weyco Group Inc. filed a Definitive Proxy Statement (DEF 14A) on April 5, 2024. The filing covers the period ending May 7, 2024. The company's fiscal year ends on December 31. Weyco Group Inc. is incorporated in Wisconsin. The company's principal business address is in Glendale, WI.

Why It Matters

For investors and stakeholders tracking WEYCO GROUP INC, this filing contains several important signals. This DEF 14A filing provides detailed information regarding executive compensation, board of directors, and shareholder proposals, which are crucial for investors to understand governance and potential changes. The filing's focus on the fiscal year ending December 31 and the reporting period ending May 7, 2024, indicates upcoming shareholder meetings and decisions.

Risk Assessment

Risk Level: low — WEYCO GROUP INC shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures without immediate financial performance data or significant corporate actions, indicating a low level of immediate risk.

Analyst Insight

Review the proxy statement for details on executive compensation, board nominations, and any shareholder proposals to assess governance and potential strategic directions.

Key Numbers

• 2024-04-05 — Filing Date (DEF 14A)
• 2024-05-07 — Period of Report (DEF 14A)
• 1231 — Fiscal Year End (Company Data)
• WI — State of Incorporation (Company Data)

Key Players & Entities

• WEYCO GROUP INC (company) — Filer
• DEF 14A (document) — Filing Type
• 2024-04-05 (date) — Filing Date
• 2024-05-07 (date) — Period of Report
• WI (location) — State of Incorporation
• 1231 (date) — Fiscal Year End
• 333 W ESTABROOK BOULEVARD (address) — Business Address
• GLENDALE (location) — Business City

FAQ

Industry Context

Weyco Group Inc. operates in the wholesale apparel sector. This DEF 14A filing is standard for publicly traded companies to disclose information related to shareholder meetings and corporate governance.

Regulatory Implications

As a publicly traded company, Weyco Group Inc. is subject to SEC regulations, including the requirement to file a Definitive Proxy Statement (DEF 14A) for shareholder votes and meetings.

What Investors Should Do

1. Review the executive compensation details outlined in the DEF 14A.
2. Analyze any shareholder proposals and management's recommendations.
3. Examine the board of directors' composition and independence.

Key Dates

• 2024-04-05: Filing Date — Submission of Definitive Proxy Statement (DEF 14A)
• 2024-05-07: Period of Report End Date — Defines the scope of information presented in the proxy statement.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a routine disclosure. No comparative financial data or significant changes from previous filings are immediately apparent from the header information.

Key Financial Figures

• $100,000 — uring any calendar year will not exceed $100,000. Each option granted under the 2024 Pl

Filing Documents

• weys-20240507xdef14a.htm (DEF 14A) — 945KB
• weys-20240507xdef14a_bg001.jpg (GRAPHIC) — 159KB
• weys-20240507xdef14a_cg001.jpg (GRAPHIC) — 80KB
• 0001558370-24-004751.txt (&nbsp;) — 2658KB
• weys-20240507.xsd (EX-101.SCH) — 8KB
• weys-20240507_def.xml (EX-101.DEF) — 45KB
• weys-20240507_lab.xml (EX-101.LAB) — 15KB
• weys-20240507_pre.xml (EX-101.PRE) — 10KB
• weys-20240507xdef14a_htm.xml (XML) — 403KB

Security Ownership of Management and Others

Security Ownership of Management and Others 2 Items to be Voted On 4 Proposal One: Election of Directors 4 Proposal Two: Ratification of the Appointment of our Independent Registered Public Accounting Firm for the Year Ending December 31, 2024 6 Proposal Three: Approval of the Weyco Group, Inc. 2024 Incentive Plan 7 Board Information 12 Composition of the Board of Directors 12 Meetings 13 Director Independence 13 Board Leadership Structure and Role in Risk Oversight 14 Shareholder Communications with the Board 14 Nomination of Director Candidates 14 Committees 15 Nominating and Corporate Governance Committee 15 Code of Business Ethics 16 Compensation Committee 16 Audit Committee 16 Pre-Approval Policy 17 Report of Audit Committee 17 Audit and Non-Audit Fees 17 Other Governance Matters 18 Director Compensation 18

Executive Compensation

Executive Compensation 20 Summary Compensation Table 20 Non-Equity Incentive Plan Compensation 21 Outstanding Equity Awards at December 31, 2023 21 Pension Benefits 22 Employment Contracts and Potential Payments Upon Termination or Change of Control 22 Pay Versus Performance 23 Other Information 25 Transactions with Related Persons 25 Method of Proxy Solicitation 25 Delinquent Section 16(a) Reports 25 Other Matters 25 Shareholder Proposals 26 Appendix A: Weyco Group, Inc. 2024 Incentive Plan A-1 i Table of Contents PROXY STATEMENT INTRODUCTION The enclosed proxy is solicited by the Board of Directors of Weyco Group, Inc. for exercise at the Annual Meeting of Shareholders to be held at the offices of the Company, 333 West Estabrook Boulevard, Glendale, Wisconsin 53212, at 10:00 A.M. (Central Daylight Time), on Tuesday, May 7, 2024, or any adjournment thereof. The Proxy Statement and Notice of Annual Meeting of Shareholders and the 2023 Annual Report on Form 10-K are also available on our website at https://www.weycogroup.com/home/investor.html. Any shareholder delivering the form of proxy has the power to revoke it at any time prior to the time of the Annual Meeting by filing with our Secretary an instrument of revocation or a duly executed proxy bearing a later date or by attending the meeting and electing to vote in person by giving notice of such election to our Secretary. Attendance at the meeting will not in itself constitute revocation of a proxy. Proxies properly signed and returned will be voted as specified thereon. The Proxy Statement and the proxy are being mailed to shareholders on or around April 5, 2024. We have only one class of stock outstanding and entitled to vote at the meeting—common stock with one vote per share on each item. As of March 15, 2024, the record date for determination of the common shareholders entitled to notice of, and to vote at, the meeting or any adjournment thereof, there we

SECURITY OWNERSHIP OF MANAGEMENT AND OTHERS

SECURITY OWNERSHIP OF MANAGEMENT AND OTHERS The following table sets forth information as of the March 15, 2024 record date with respect to the beneficial ownership of our common stock determined in accordance with the rules of the SEC by each director and nominee for director, each of the named executive officers identified in the "Summary Compensation Table" herein and all current directors and executive officers as a group. Thomas W. Florsheim, Jr. and John W. Florsheim are brothers and their father is Thomas W. Florsheim. There are no other family relationships between any of our directors and executive officers. The address of each beneficial owner listed below is: 333 West Estabrook Boulevard, Glendale, Wisconsin 53212. Number of Shares and Nature of Beneficial Percent Name of Beneficial Owner of Class (4) Thomas W. Florsheim 559,041 5.9 % Thomas W. Florsheim, Jr. 1,574,148 (5)(6)(7) 16.5 % John W. Florsheim 976,735 10.2 % Robert Feitler 244,658 2.6 % Frederick P. Stratton, Jr. 167,950 1.8 % Brian Flannery 49,615 0.5 % Tina Chang 26,396 * Cory L. Nettles 24,324 * All Directors and Executive Officers as a Group (17 persons including the above-named) 3,796,485 38.9 % * Less than 1%. Notes: (1) Includes the following shares that may be acquired upon the exercise of outstanding stock options within 60 days of the record date: Thomas W. Florsheim—12,500; Thomas W. Florsheim, Jr.—42,400; John W. Florsheim—42,400; Robert Feitler—12,500; Frederick P. Stratton, Jr.—12,500; Brian Flannery— 23,077; Tina Chang—11,800; Cory L. Nettles—12,500; and all directors and executive officers as a group—243,248. (2) Includes the following shares of unvested restricted stock as to which the holders are entitled to voting rights: Thomas W. Florsheim—2,500; Thomas W. Florsheim, Jr.—4,125; John W. Florsheim—4,125; Robert Feitler—2,500; Frederick P. Stratton, Jr.—2,500; Brian Flannery —2,150; Tina

View Full Filing

View this DEF 14A filing on SEC EDGAR