William Creekmuir
About William S. Creekmuir
Independent director since 2019 (age 70), Creekmuir is the principal owner and President of Pinnacle Search Partners, LLC (executive search) since December 2015, with prior CFO roles at Simmons Bedding (2000–2011) and LADD Furniture (1992–2000), and earlier partnership at KPMG in the U.S. and Ireland; he holds a B.S. in Business Administration from UNC Chapel Hill . He is nominated as a Class III director for a new term ending at the 2028 annual meeting, with the Board planning to reduce its size to seven following a separate resignation . The Board deems him independent under Nasdaq standards and he is designated an “audit committee financial expert” .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Simmons Bedding Company (PE-owned) | EVP & Chief Financial Officer | 2000–2011 | Corporate finance/accounting leadership |
| LADD Furniture, Inc. (public) | EVP & Chief Financial Officer | 1992–2000 | Public company finance leadership |
| KPMG LLP | Partner (U.S. & Ireland) | — (earlier years) | Audit/accounting expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pinnacle Search Partners, LLC | Principal Owner & President | Dec 2015–present | Global executive search; talent management expertise |
| Party City Holdco Inc. | Director | 2016–2023 | Audit Committee Chair; Restructuring Committee member |
Board Governance
- Independence: Board determined Creekmuir is independent under Nasdaq listing standards .
- Committee assignments and meeting cadence:
- Audit & Ethics Committee: Member; 5 meetings in FY 2025; designated “audit committee financial expert” .
- Compensation Committee: Member; 4 meetings in FY 2025 .
- Nominating & Governance Committee: Not a member; the committee held 7 meetings in FY 2025 .
- Attendance: All directors attended 93% of Board meetings and 100% of their committee meetings in FY 2025 .
- Executive sessions: Independent directors meet periodically in executive session .
- Board structure and refresh: Nominated for Class III with term through 2028; Board expects reduction from eight to seven members following a resignation in December 2025 .
- Compensation committee advisor: Meridian Compensation Partners, LLC engaged as independent consultant on industry and peer incentive practices during calendar 2025 .
- Related-party transactions: Audit & Ethics Committee oversees a formal policy; no reportable transactions in FY 2025 .
- Risk controls: Clawback policy for incentive-based compensation; insider trading policy prohibits hedging, short selling, margin, pledging, and derivatives .
Fixed Compensation
| Director | Fiscal Year | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|---|
| William S. Creekmuir | 2025 | 77,750 | 96,982 | 174,732 |
| Component | FY2025 Amount ($) | FY2026 Change ($) | Notes |
|---|---|---|---|
| Base director cash retainer | 61,500 | 70,000 | Paid quarterly; no meeting fees |
| Audit & Ethics Committee member retainer | 7,500 | 7,500 | Member retainer; chair retainer increased (see below) |
| Compensation Committee member retainer | 5,000 | 5,000 | Member retainer |
| Audit & Ethics Committee chair retainer | 15,000 | 20,000 | Chair only |
| Compensation Committee chair retainer | 10,000 | 15,000 | Chair only |
| Nominating & Governance Committee chair retainer | 10,000 | 15,000 | Chair only |
Performance Compensation
| Equity Component | FY2025 Value ($) | Vesting/Delivery | FY2026 Value ($) | Performance Metrics |
|---|---|---|---|---|
| Annual director stock grant | 97,000 | Delivered in quarterly installments; no additional vesting requirements | 100,000 | None disclosed for directors; grants are time-based with no additional vesting |
Directors are expected to accumulate shares valued at five times annual director cash compensation (ownership guideline) .
Other Directorships & Interlocks
| Company | Role | Dates | Committee Roles | Potential Interlock/Conflict Consideration |
|---|---|---|---|---|
| Party City Holdco Inc. | Director | 2016–2023 | Audit Committee Chair; Restructuring Committee | No FLXS related-party transactions reported for FY 2025 |
| Pinnacle Search Partners, LLC | President/Owner | 2015–present | — | As executive search firm leader, potential conflict only if engaged by FLXS; none reported in FY 2025 |
Expertise & Qualifications
- CFO experience at two significant companies (public and PE-owned), plus prior KPMG partnership; qualifies as “audit committee financial expert” .
- Skills cited by FLXS: corporate finance, accounting, talent management, and home furnishings industry experience .
- Education: B.S., Business Administration, University of North Carolina at Chapel Hill .
Equity Ownership
| Holder | Shares Beneficially Owned (#) | % of Outstanding | Options (exercisable/non) | Pledging/Hedging |
|---|---|---|---|---|
| William S. Creekmuir | 30,856 | 0.6% | Not disclosed for Creekmuir (group total options disclosed) | Company policy prohibits hedging, short selling, margin and pledging |
- Ownership guidelines: Directors expected to hold 5× annual director cash compensation; compliance status for individual directors not disclosed .
- Section 16(a) compliance: Company believes all directors met filing requirements in FY 2025 .
Governance Assessment
- Strengths: Independent director with deep finance/audit credentials and “audit committee financial expert” designation; strong committee engagement (Audit & Ethics; Compensation); high attendance culture (93% Board; 100% committees); robust risk controls via clawback and strict insider trading/anti-pledging policies; formal related-party policy with no reportable transactions in FY 2025 .
- Alignment: Material personal equity stake (30,856 shares; 0.6%) and director ownership guideline requiring 5× annual cash compensation; quarterly equity grants support ongoing alignment without performance conditions for directors .
- Watch items: As principal owner of an executive search firm, monitor any future engagements with FLXS for potential conflicts; current filings report no related-party transactions in FY 2025. Board size reduction planned post-December 2025 could impact committee workloads and effectiveness; continued monitoring warranted .
RED FLAGS: None disclosed specific to Creekmuir (no related-party transactions; hedging/pledging prohibited; Section 16 compliance met) .