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Pay vs Performance Disclosure
Pure in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
Jan. 01, 2023
USD ($)
Jan. 02, 2022
USD ($)
Jan. 03, 2021
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

 

Pursuant to a mandate of the Dodd-Frank Act commonly referred to as "Pay versus Performance," the SEC has adopted a rule requiring registrants to provide a clear description of (1) the relationship between executive compensation actually paid ("CAP") to the Company's NEOs (including the principal executive officer or person acting in a similar capacity during the last completed fiscal year ("CEO")) and the Company’s cumulative total shareholder return (“TSR”), net income and a third Company-selected financial measure, and (2) the relationship between the Company's TSR and the TSR of a peer group chosen by the Company.

 

The following table provides information regarding CAP to our CEO and non-CEO NEOs during each of the past four fiscal years, as well as TSR, net income, and our Company-selected measure, adjusted EBITDA. See the “Compensation Discussion and Analysis" section above for a comprehensive discussion of our executive compensation program and philosophy.

 

 

                                                   

Value of Initial Fixed $100

Investment Based on:

                 

Year

 (a)

 

Summary

Compensation

Table Total for

Current

CEO(1)

 

 

($)

(b)

   

Compensation

Actually Paid

to Current

CEO

 

($)

(c)

   

Summary

Compensation

Table Total for

Former

CEO(1)

 

($)

(d)

   

Compensation

Actually Paid

to Former

CEO

 

($)

(e)

   

Average

Summary

Compensation

Table Total for

Non-CEO

NEOs(1)

 

($)

(f)

   

Average

Compensation

Actually Paid

to Non-CEO

NEOs

 

($)

(g)

   

Interface

Total

Shareholder

Return(2)

 

($)

(h)

   

Peer Group

Total

Shareholder

Return(2)(3)

 

($)

(i)

   

Net

Income

(in

Millions)

 

($)

(j)

   

Interface

Adjusted

EBITDA(4)

(in

Millions)

($)

(k)

 

2023

    4,526,511       4,807,487       N/A       N/A       1,784,010       2,130,682       77.74       99.79       44.5       162.0  

2022

    5,091,309       4,511,701       3,658,931       1,914,885       1,362,460       645,183       60.70       99.94       19.6       176.1  

2021

    N/A       N/A       6,250,848       7,083,641       1,889,694       2,188,909       97.22       132.16       55.2       169.4  

2020

    N/A       N/A       4,048,192       2,616,934       960,162       361,982       64.03       96.92       (71.9 )     145.7  

 

 

(1)

These columns reflect the amounts reported in the “Summary Compensation Table” for Ms. Hurd, our current CEO, Mr. Hendrix, our former CEO, and the average for our non-CEO NEOs, for each of the years listed. The non-CEO NEOs for whom the average compensation is presented in this table are Messrs. Foshee, Hausmann, Poppens and Stansfield, for each of the years presented.

 

 

(2)

TSR is calculated based on an initial fixed investment of $100 on December 29, 2019 (the final trading day before our 2020 fiscal year), assuming reinvestment of dividends, through the end of the covered fiscal year presented.

 

 

(3)

The peer group used for the TSR calculation are the same companies comprising the “self-determined peer group” index used for compensation decision making (as described in the Compensation Discussion and Analysis in the proxy statement for each applicable fiscal year) and used to create the stock performance graph included in the Company’s Annual Report on Form 10-K for each applicable fiscal year.

 

 

(4)

Adjusted EBITDA is a non-GAAP financial measure. Please see Appendix A for a reconciliation of this non-GAAP measure to the most directly comparable GAAP measure.

     
PEO Total Compensation Amount $ 4,526,511 $ 5,091,309    
PEO Actually Paid Compensation Amount $ 4,807,487 4,511,701    
Adjustment To PEO Compensation, Footnote

Adjustments to the Summary Compensation Table Totals to arrive at CAP for our CEOs and Non-CEO NEOs are shown below.

 

logoftr.jpg

 

    Calculation for Current CEO Hurd     Calculation for Avg of Non-CEO NEOs  

Calculation of

“Compensation Actually

Paid

 

Year 2020

($)

   

Year 2021

($)

   

Year 2022

($)

   

Year 2023

($)

   

Year 2020

($)

   

Year 2021

($)

   

Year 2022

($)

   

Year 2023

($)

 

Summary Compensation Table Total

    N/A       N/A       5,091,309       4,526,511       960,162       1,889,694       1,362,460       1,784,010  

Less Stock Award Value Reported in Summary Compensation Table for the Covered Year

    N/A       N/A       (3,543,485 )     (2,614,777 )     (506,147 )     (934,024 )     (550,168 )     (914,060 )

Plus Fair Value for Awards Granted in the Covered Year

    N/A       N/A       2,963,877       2,931,519       190,654       1,113,482       444,128       1,083,559  

Change in Fair Value of Awards from Prior Years that Vested in Covered Year

    N/A       N/A       -       (134,309 )     8,739       2,040       (20,731 )     (18,153 )

Change in Fair Value of Outstanding Unvested Awards from Prior Years

    N/A       N/A       -       98,543       (256,418 )     136,553       (573,021 )     229,720  

Less Fair Value of Awards Forfeited during the Covered Year

    N/A       N/A       -       -       -       (18,837 )     (17,485 )     (20,860 )

Plus Fair Value of Incremental Dividends of Earnings Paid on Stock Awards

    N/A       N/A       -       -       -       -       -       -  

Less Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans

    N/A       N/A       -       -       (35,007 )     -       -       (13,534 )

Plus Aggregate Service Cost and Prior Service Cost for Pension Plans

    N/A       N/A       -       -       -       -       -       -  

“Compensation Actually Paid”

    N/A       N/A       4,511,701       4,807,487       361,982       2,188,909       645,183       2,130,682  

 

 

    Calculation for Former CEO Hendrix                                  

Calculation of

“Compensation Actually

Paid

 

Year 2020

($)

   

Year 2021

($)

   

Year 2022

($)

   

Year 2023

($)

                         

Summary Compensation Table Total

    4,048,192       6,250,848       3,658,931       N/A                                  

Less Stock Award Value Reported in Summary Compensation Table for the Covered Year

    (999,996 )     (2,150,267 )     (991,768 )     N/A                                  

Plus Fair Value for Awards Granted in the Covered Year

    628,740       2,656,714       738,217       N/A                                  

Change in Fair Value of Awards from Prior Years that Vested in Covered Year

    -       -       -       N/A                                  

Change in Fair Value of Outstanding Unvested Awards from Prior Years

    -       326,346       (1,490,495 )     N/A                                  

Less Fair Value of Awards Forfeited during the Covered Year

    -       -       -       N/A                                  

Plus Fair Value of Incremental Dividends of Earnings Paid on Stock Awards

    -       -       -       N/A                                  

Less Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans

    (1,060,002 )     -       -       N/A                                  

Plus Aggregate Service Cost and Prior Service Cost for Pension Plans

    -       -       -       N/A                                  

“Compensation Actually Paid”

    2,616,934       7,083,641       1,914,885       N/A                                  

 

logoftr.jpg

 

     
Non-PEO NEO Average Total Compensation Amount $ 1,784,010 1,362,460 $ 1,889,694 $ 960,162
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,130,682 645,183 2,188,909 361,982
Compensation Actually Paid vs. Total Shareholder Return

CEO PAY-FOR-PERFORMANCE ALIGNMENT

 

The following chart sets forth the relationship between CAP to our current and former CEO, the average of CAP to our other NEOs, the Company’s cumulative TSR, and the peer group’s cumulative TSR, over the four-year period from 2020 through 2023.

 

image20.jpg

 

     
Compensation Actually Paid vs. Net Income

The following chart sets forth the relationship between CAP to our current and former CEO, the average of CAP to our other NEOs, and our net income during fiscal years 2020 through 2023.

 

image21.jpg

 

logoftr.jpg

 

     
Compensation Actually Paid vs. Company Selected Measure

The following chart sets forth the relationship between CAP to our current and former CEO, the average of CAP to our other NEOs, and the Company’s Adjusted EBITDA during fiscal years 2020 through 2023.

 

image22.jpg

 

     
Tabular List, Table

TABULAR LIST OF MOST IMPORTANT FINANCIAL PERFORMANCE MEASURES FOR 2023

 

While Interface Adjusted EBITDA is shown in the pay-versus-performance table above, the following three performance measures are all important and key to the Company’s success. These measures are included in the short and long-term incentive plans to ensure alignment between the goals of the NEOs to the business strategies. The measures in this table are not ranked.

 

Most Important Performance Measures

Adjusted EBITDA

Adjusted Operating Income

Currency Neutral Sales

 

 

logoftr.jpg

 

     
Total Shareholder Return Amount $ 77.74 60.7 97.22 64.03
Peer Group Total Shareholder Return Amount 99.79 99.94 132.16 96.92
Net Income (Loss) $ 44,500,000 $ 19,600,000 $ 55,200,000 $ (71,900,000)
Company Selected Measure Amount 162.0 176.1 169.4 145.7
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted EBITDA      
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted Operating Income      
Measure:: 3        
Pay vs Performance Disclosure        
Name Currency Neutral Sales      
PEO Less Stock Award Value Reported in Summary Compensation Table for the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (2,614,777) (3,543,485)    
NEO Less Stock Award Value Reported in Summary Compensation Table for the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (914,060) (550,168) (934,024) (506,147)
PEO Plus Fair Value for Awards Granted in the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,931,519 2,963,877    
NEO Plus Fair Value for Awards Granted in the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,083,559 444,128 1,113,482 190,654
PEO Change In Fair Value Of Awards From Prior Years That Vested In Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (134,309) 0    
NEO Change in Fair Value of Awards from Prior Years that Vested in Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (18,153) (20,731) 2,040 8,739
PEO Change In Fair Value Of Outstanding Unvested Awards From Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 98,543 0    
NEO Change in Fair Value of Outstanding Unvested Awards from Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 229,720 (573,021) 136,553 (256,418)
PEO Less Fair Value Of Awards Forfeited During The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0    
NEO Less Fair Value of Awards Forfeited during the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (20,860) (17,485) (18,837) 0
PEO Plus Fair Value Of Incremental Dividends Of Earnings Paid On Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0    
NEO Plus Fair Value Of Incremental Dividends Of Earnings Paid On Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO Less Aggregate Change In Actuarial Present Value Of Accumulated Benefit Under Pension Plans [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0    
NEO Less Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (13,534) 0 0 (35,007)
Former CEO Less Stock Award Value Reported in Summary Compensation Table for the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (991,768) (2,150,267) (999,996)
Former CEO Plus Fair Value for Awards Granted in the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   738,217 2,656,714 628,740
Former CEO Change In Fair Value Of Awards From Prior Years That Vested In Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   0 0 0
Former CEO Change in Fair Value of Outstanding Unvested Awards from Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (1,490,495) 326,346 0
Former CEO Less Fair Value Of Awards Forfeited During The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   0 0 0
Former CEO Plus Fair Value Of Incremental Dividends Of Earnings Paid On Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   0 0 0
Former CEO Less Aggregate In Actuarial Present Value Of Accumulated Benefit Under Pension Plan [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   0 0 (1,060,002)
Former CEO Plus Aggregate Service Cost And Prior Service Cost For Pension Plans [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   0 0 0
Former CEO [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount   3,658,931 6,250,848 4,048,192
PEO Actually Paid Compensation Amount   $ 1,914,885 $ 7,083,641 $ 2,616,934