secwatch.observer — SEC 8-K summary
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Issuer:     INTERFACE INC (TILE)
CIK:        0000715787
Form:       8-K/A
Filed at:   2021-12-21T23:59:59+00:00
Accession:  0000715787-21-000050
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 8.01, 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Interface corrects CFO title, enters severance pacts with three execs, amends credit facility
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- Corrects Bruce Hausmann's title to Vice President and Chief Financial Officer in prior 8-K filing.
- Executed Severance Protection & Change in Control agreements on Dec 17, 2021 with David Foshee, Bruce Hausmann, and James Poppens.
- Severance provides 2x salary + 2x target/average bonus on CIC termination; 1x salary + 1x bonus on non-CIC termination.
- Fourth Amendment to credit facility on Dec 9, 2021 replaces LIBOR with €STR, EURIBOR, SONIA for GBP and EUR loans.
- Severance agreements include 12-24 month non-compete; payments conditioned on release and non-compete.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/715787/000071578721000050/0000715787-21-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/715787/000071578721000050/tile-20211216.htm
  HTML page:      https://secwatch.observer/filing/0000715787-21-000050

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