Interface shareholders approve amended stock plan adding 3.2 million shares at annual meeting
At its May 13, 2024 annual meeting, Interface, Inc. shareholders approved an amended and restated 2020 Omnibus Stock Incentive Plan, which authorizes 3,200,000 new shares for issuance, plus shares remaining under the original plan. Shareholders also elected all ten director nominees, approved executive compensation, and ratified BDO USA, P.C. as the independent auditor for 2024. The larger share authorization lets the company grant more equity awards, which would increase the number of shares that can be issued.
- Plan approval: 50,808,520 for, 1,570,316 against, 12,056 abstain, 2,181,242 broker non-votes
- New shares: 3,200,000 not previously authorized, plus shares available under the original plan; no awards may be granted after the tenth anniversary of May 13, 2024
- Individual limit: no participant may receive more than 500,000 shares or 1,000,000 performance units in a calendar year
- Executive compensation approved: 49,332,026 for, 3,046,173 against; BDO USA, P.C. ratified: 52,546,486 for, 1,354,322 against