Pay Versus Performance

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company.


	Summary				Average Summary		Average
	Compensation		Compensation		Compensation		Compensation		Value of Initial Fixed $100
	Table Total		Actually Paid		Table Total for		Actually Paid to		Investments based on Total		Net Income
Year	for PEO⁽¹⁾		to PEO⁽²⁾		Non-PEO NEOs⁽³⁾		Non-PEO NEOs⁽⁴⁾		Shareholder Return⁽⁵⁾		(in Millions)⁽⁶⁾
(a)	(b)		(c)		(d)		(e)		(f)		(h)
2023	$	1,382,943	$	1,613,111	$	973,370	$	1,153,855	$	146	$	30.2
2022	$	1,347,667	$	1,360,466	$	937,959	$	948,056	$	145	$	29.5

(1)

The dollar amounts reported in column (b) are the amounts of total compensation reported for Tom Florsheim, Jr., our principal executive officer (“PEO”), for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation — Summary Compensation Table.”

(2)

The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Tom Florsheim, Jr. as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Tom during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Tom’s total compensation for each year to determine the compensation actually paid:


	Reported Summary			Compensation
	Compensation	Reported Value of	Equity Award	Actually Paid to
Year	Table Total for PEO	Equity Awards^(a)	Adjustments^(b)	PEO
2023	1,382,943	(85,095)	315,263	1,613,111
2022	1,347,667	(90,705)	103,504	1,360,466

(a)	The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

(b)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:


			Year over Year		Fair Value as of		Year over Year		Fair Value at the End		Value of Dividends or
			Change in Fair		Vesting Date of		Change in Fair		of the Prior Year of		other Earnings Paid on
			Value of		Equity Awards		Value of Equity		Equity Awards that		Stock or Option Awards
	Year End Fair		Outstanding and		Granted and		Awards Granted in		Failed to Meet		not Otherwise Reflected		Total Equity
	Value of Equity		Unvested Equity		Vested in the		Prior Years that		Vesting Conditions		in Fair Value or Total		Award
Year	Awards		Awards		Year		Vested in the Year		in the Year		Compensation		Adjustments
2023	$	120,190	$	152,915	$	—	$	37,459	$	—	$	4,699	$	315,263
2022	$	55,050	$	(6,340)	$	—	$	50,390	$	—	$	4,404	$	103,504

(3)

The dollar amounts reported in column (d) represent the average of the amounts reported for our NEOs as a group (excluding Tom Florsheim, Jr.) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding Tom Florsheim, Jr.) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, John W. Florsheim and Brian Flannery; and (ii) for 2022, John W. Florsheim and Kevin S. Schiff.

(4)

The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding Tom Florsheim, Jr.), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding Tom Florsheim, Jr.) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding Tom Florsheim, Jr.) for each year to determine the compensation actually paid, using the same methodology described above in Note 2:


	Average Reported						Average
	Summary Compensation		Averaged Reported				Compensation
	Table Total for Non-PEO		Fair Value of Equity		Average Equity		Actually Paid to
Year	NEO’s		Awards		Award Adjustments^(a)		Non-PEO NEOs
2023	$	973,370	$	(65,792)	$	246,277	$	1,153,855
2022	$	937,959	$	(70,106)	$	80,203	$	948,056

(a)	The amounts deducted or added in calculating the total average equity award adjustments are as follows:


					Average Fair				Average Fair Value		Average Value of
			Year over Year		Value as of		Year over Year		at the End of the		Dividends or other
			Change in Fair		Vesting Date of		Change in Fair		Prior Year of Equity		Earnings Paid on Stock
			Value of		Equity Awards		Value of Equity		Awards that Failed		or Option Awards not		Total
	Average Year		Outstanding and		Granted and		Awards Granted in		to Meet Vesting		Otherwise Reflected in		Average
	End Fair Value of		Unvested Equity		Vested in the		Prior Years that		Conditions in the		Fair Value or Total		Equity Award
Year	Equity Awards		Awards		Year		Vested in the Year		Year		Compensation		Adjustments
2023	$	93,017	$	120,429	$	—	$	29,303	$	—	$	3,528	$	246,277
2022	$	42,483	$	(4,683)	$	—	$	39,101	$	—	$	3,302	$	80,203

(5)

The cumulative total shareholder return (“TSR”) reported in column (f) is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.

(6)	The dollar amounts reported in column (h) represent the amount of net income reflected in our audited financial statements for the applicable year.

Peer Group Issuers, Footnote

(5)

The cumulative total shareholder return (“TSR”) reported in column (f) is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.

PEO Actually Paid Compensation Amount

$ 1,613,111

1,360,466

Non-PEO NEO Average Total Compensation Amount

$ 973,370

937,959

Adjustment to Non-PEO NEO Compensation Footnote

(3)

The dollar amounts reported in column (d) represent the average of the amounts reported for our NEOs as a group (excluding Tom Florsheim, Jr.) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding Tom Florsheim, Jr.) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, John W. Florsheim and Brian Flannery; and (ii) for 2022, John W. Florsheim and Kevin S. Schiff.

(4)

The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding Tom Florsheim, Jr.), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding Tom Florsheim, Jr.) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding Tom Florsheim, Jr.) for each year to determine the compensation actually paid, using the same methodology described above in Note 2:


	Average Reported						Average
	Summary Compensation		Averaged Reported				Compensation
	Table Total for Non-PEO		Fair Value of Equity		Average Equity		Actually Paid to
Year	NEO’s		Awards		Award Adjustments^(a)		Non-PEO NEOs
2023	$	973,370	$	(65,792)	$	246,277	$	1,153,855
2022	$	937,959	$	(70,106)	$	80,203	$	948,056

(a)	The amounts deducted or added in calculating the total average equity award adjustments are as follows:


					Average Fair				Average Fair Value		Average Value of
			Year over Year		Value as of		Year over Year		at the End of the		Dividends or other
			Change in Fair		Vesting Date of		Change in Fair		Prior Year of Equity		Earnings Paid on Stock
			Value of		Equity Awards		Value of Equity		Awards that Failed		or Option Awards not		Total
	Average Year		Outstanding and		Granted and		Awards Granted in		to Meet Vesting		Otherwise Reflected in		Average
	End Fair Value of		Unvested Equity		Vested in the		Prior Years that		Conditions in the		Fair Value or Total		Equity Award
Year	Equity Awards		Awards		Year		Vested in the Year		Year		Compensation		Adjustments
2023	$	93,017	$	120,429	$	—	$	29,303	$	—	$	3,528	$	246,277
2022	$	42,483	$	(4,683)	$	—	$	39,101	$	—	$	3,302	$	80,203