secwatch.observer — SEC 8-K summary
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Issuer:     INTERFACE INC (TILE)
CIK:        0000715787
Form:       8-K
Filed at:   2021-12-21T23:59:59+00:00
Accession:  0000715787-21-000048
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 8.01, 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Interface enters severance agreements with 3 execs, amends credit facility to replace LIBOR
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- Entered into new severance agreements with EVP/Gen Counsel David Foshee, CEO Bruce Hausmann, and division president James Poppens, effective Dec 17, 2021.
- Severance benefits include 12-month base salary plus target bonus for involuntary termination; 2x upon change in control.
- Fourth Amendment to credit facility replaced LIBOR benchmark for GBP/EUR loans with €STR, EURIBOR, and SONIA plus 0.1193%.
- Amendment also sets conforming changes and fallback provisions for future benchmark cessation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/715787/000071578721000048/0000715787-21-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/715787/000071578721000048/tile-20211216.htm
  HTML page:      https://secwatch.observer/filing/0000715787-21-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer