Bruce Hausmann
About Bruce Hausmann
Interface Inc.’s Vice President and Chief Financial Officer since April 2017, age 55 as of December 29, 2024; previously SVP/CFO at Aramark business units and VP/Segment Controller at The Walt Disney Company; certified public accountant (inactive, CA) . During his tenure, the company’s pay-versus-performance disclosures show cumulative TSR improved from 77.74 in 2023 to 154.07 in 2024 (base 100 on 12/29/2019), adjusted EBITDA rose to $189.0 million in 2024 from $162.0 million in 2023, and net income reached $86.9 million in 2024 . 2025 execution highlights from earnings calls include strong liquidity ($482 million in Q3), net leverage reduced to 0.6x, and raised full-year guidance, with CFO commentary on offsetting tariff costs and balanced capital allocation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Aramark Corporation | SVP & CFO, Uniform business unit | 2009–2014 | Led finance for large operating unit; later broadened scope to additional segment |
| Aramark Corporation | SVP & CFO, Direct Store Delivery segment | 2014–2017 | Finance leadership for route-based distribution; operational and segment-level accountability |
| The Walt Disney Company | VP & Segment Controller, Interactive Media Group | 2002–2009 (joined in 2002; departed before Aramark 2009) | Controller for digital media segment; prior software/internet finance roles |
| Interface, Inc. | VP & CFO | Apr 2017–present | Corporate CFO overseeing capital allocation, leverage, and earnings quality |
External Roles
No public company directorships disclosed in Interface filings; Hausmann is not listed among Interface’s directors .
Fixed Compensation
| Component | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $500,000 | $520,000 | $541,000 |
| Company 401(k) Contribution ($) | $9,150 | $9,900 | $10,350 |
| Company Nonqualified Plan Contribution ($) | $15,000 | $18,026 | $18,965 |
| Perquisites & Other ($) | $42,753 | $47,184 | $53,388 |
Perquisites detail (2024):
| Perquisite | Amount ($) |
|---|---|
| Automobile | $15,880 |
| Telephone | $1,782 |
| Dividends/Dividend Equivalents | $6,253 |
| Company Retirement Plan Contributions | $29,315 |
| Other (LTC insurance premium) | $158 |
Base salary change rationale (2024 vs 2023): Merit; 4% increase from $520,000 to $541,000 .
Performance Compensation
Annual cash bonus design (2024):
| Metric | Weighting | Threshold | Goal | Maximum | Actual Achievement | Resulting Payout Component |
|---|---|---|---|---|---|---|
| Adjusted Operating Income | 85% | $80,778,000 | $124,274,000 | $142,915,000 | 168.9% of criterion | 143.6% of bonus potential (after 85% weighting) |
| Currency-Neutral Sales | 15% | $1,172,070,000 | $1,280,951,000 | $1,325,789,000 | 161.0% of criterion | 24.2% of bonus potential (after 15% weighting) |
| Overall | — | — | — | — | — | ~167.7% of bonus opportunity |
Bonus potential and payouts:
| Year | Base Salary ($) | Bonus Potential (% of Salary) | Target ($) | Actual Bonus ($) |
|---|---|---|---|---|
| 2024 | $541,000 | 90% | $486,900 | $816,531 |
| 2023 | $520,000 | 90% | $468,000 | $436,176 |
| 2022 | $500,000 | 90% | $450,000 | $410,850 |
Long-term incentives (2024 grants):
| Award Type | Grant Date | Threshold (#) | Target (#) | Maximum (#) | Grant Date Fair Value ($) |
|---|---|---|---|---|---|
| Performance Shares (PSUs) | 02-26-2024 | 7,821 | 31,283 | 62,566 | $414,187 |
| Restricted Stock Units (RSUs) | 02-26-2024 | — | 31,284 | 31,284 | $414,200 |
Vesting schedule (select unvested awards as of FY-end 2024, with forward vesting):
| Vesting Date | Shares Vesting |
|---|---|
| 01-12-2025 | 12,871 |
| 01-24-2025 | 24,590 |
| 02-24-2025 | 10,095 |
| 02-26-2025 | 10,428 |
| 01-12-2026 | 12,871 |
| 02-26-2026 | 10,428 |
| 02-27-2026 | 23,487 |
| 02-26-2027 | 10,428 |
Notes:
- No stock options granted in recent years; equity mix is RSUs and PSUs vesting over 3 years .
- Clawback policy compliant with Nasdaq Rule 5608 and SEC Rule 10D-1; recovers excess incentive compensation upon restatements, regardless of fault .
Equity Ownership & Alignment
Beneficial ownership (as of March 15, 2024):
| Holder | Shares Beneficially Owned | % of Class |
|---|---|---|
| Bruce A. Hausmann | 181,699 | * (less than 1%) |
Outstanding equity awards at FY-end 2024 (unvested):
| Category | Shares (#) | Market Value ($) |
|---|---|---|
| Unvested Stock Awards (restricted stock/RSUs) | 115,198 | $2,876,494 |
| Unearned PSUs (at target) | 84,220 | $2,102,973 |
Ownership policies:
- Officers must hold stock equal to 2× base salary; all NEOs have met this target; retain at least 50% of net after-tax shares from vestings/exercises .
- Hedging (e.g., collars, swaps) and pledging company stock are prohibited; blackout periods and preclearance apply to executive officers .
Employment Terms
Severance/change-in-control framework:
- Double trigger required for CIC severance (CIC plus involuntary separation or good reason within 24 months) .
- CFO severance benefits: 2× base salary plus 2× greater of target bonus or average of prior 3 years; prorated annual bonus; health benefits continuation (12 months) .
Potential payments for Hausmann (assumes termination at 12/27/2024; FMV $24.97/share):
| Scenario | Base Salary ($) | Bonus ($) | Equity Awards ($) | Health/Insurance ($) |
|---|---|---|---|---|
| Retirement/Resignation | — | $812,045 | — | — |
| Death/Disability | — | $812,045 | $2,751,344 | — |
| Termination with Cause | — | — | — | — |
| Termination without Cause | $541,000 | $1,298,945 | $2,751,344 | $24,296 |
| Termination following Change in Control (double trigger) | $1,082,000 | $1,785,845 | $4,943,971 | $24,296 |
Restrictive covenants:
- Non-compete restrictions for 12–24 months post-termination, depending on circumstances .
Performance & Track Record
Operational execution markers:
- Q3 2025: Liquidity $482 million; net debt $120.4 million; net leverage 0.6×; raised FY25 guidance .
- Q2 2025: Net sales +8.3% YoY to $375.5 million; adjusted EBITDA $64.8 million; net leverage 0.9×; share repurchases $4.3 million; raised FY25 guidance .
- Q1 2025: Liquidity $397.2 million; net leverage 1.1×; strong backlog and order momentum .
Compensation alignment to performance:
| Year | TSR (Value of $100) | Net Income ($mm) | Adjusted EBITDA ($mm) |
|---|---|---|---|
| 2024 | 154.07 | 86.9 | 189.0 |
| 2023 | 77.74 | 44.5 | 162.0 |
| 2022 | 60.70 | 19.6 | 176.1 |
| 2021 | 97.22 | 55.2 | 169.4 |
| 2020 | 64.03 | (71.9) | 145.7 |
Governance, Policies, and Peer Benchmarking
- Self-determined peer group used for TSR comparison and compensation decisions; details referenced in CD&A and stock performance graph in 10-Ks .
- No tax gross-ups; double-trigger CIC in equity/severance; clawback policy (SEC/Nasdaq compliant); hedging/pledging prohibited; independent comp committee .
Investment Implications
- Strong pay-for-performance linkage: CFO’s annual bonus fully tied to adjusted operating income (85%) and currency-neutral sales (15%), with rigorous thresholds/goals/maximums; 2024 payout at ~168% of target reflects above-target performance . This alignment suggests high sensitivity of cash compensation to margin management and top-line execution.
- Equity cadence and potential trading dynamics: Multiple scheduled vestings in January–February across 2025–2027 could create episodic liquidity events; mitigants include retention requirements (50% net after-tax shares) and blackout/preclearance policies that limit opportunistic selling .
- Retention/transition risk appears contained: Double-trigger CIC, market-based severance (2× salary+bonus), and robust unvested equity value ($5.0 million+ combined RSUs/PSUs at FY-end 2024) support retention incentives; non-compete up to 24 months reduces immediate competitive risk on departure .
- Alignment and governance quality: Ownership guidelines met, no hedging/pledging, and clawback policy reduce red-flag risk; absence of options in recent years (shift to RSUs/PSUs) lowers risk posture while maintaining performance tether through PSUs .
- Execution signal: CFO commentary and metrics point to disciplined capital allocation, deleveraging, and pricing/productivity offsets to tariffs—positives for earnings durability and cash generation .