James Poppens
About James Poppens
James L. Poppens, age 60, is Vice President and Chief Commercial Officer of Interface, Inc. (TILE). He joined Interface in 2017 to lead the restructuring of FLOR, later serving as VP Corporate Marketing and President of the Americas, and was appointed Chief Commercial Officer effective February 1, 2023 . Prior to Interface, he held leadership roles at Newell Rubbermaid, Kellogg Company, REI, and Coca‑Cola . Company performance during his tenure includes adjusted EBITDA rising to $189.0 million in 2024 (from $162.0 million in 2023), currency‑neutral sales of $1,317.4 million in 2024 (vs. $1,260.1 million in 2023), and cumulative TSR values that moved from 77.74 in 2023 to 154.07 in 2024 (base=$100 on 12/29/2019) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Interface (TILE) | Chief Commercial Officer | Feb 2023–present | Global commercial leadership and go‑to‑market alignment |
| Interface (TILE) | President, Americas | Feb 2020–Jan 2023 | Drove regional commercial execution; role eliminated with CCO appointment |
| Interface (TILE) | VP Corporate Marketing; led FLOR restructuring | 2017–2020 (dates for VP Marketing not disclosed) | Rebuilt FLOR; led brand, digital strategy, product commercialization |
| Newell Rubbermaid; Kellogg; REI; Coca‑Cola | Various leadership roles | Pre‑2017 | Consumer brand leadership track record |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $425,000 | $468,000 | $487,000 |
| Target Bonus (% of Salary) | 90% | 90% | 90% |
| Actual Annual Bonus ($) | $444,083 | $392,558 | $735,029 |
| Stock Awards (Grant‑date Fair Value, $) | $551,382 | $936,668 | $745,703 |
| All Other Compensation ($) | $26,192 | $26,522 | $32,860 |
Perquisites (2024):
| Item | Amount ($) |
|---|---|
| Automobile/Allowance | $18,525 |
| Telephone | $1,388 |
| Dividends & Dividend Equivalents | $4,089 |
| Company Retirement Plan Contributions | $8,625 |
| Other (long‑term care insurance) | $233 |
Performance Compensation
Annual Cash Bonus (2024 plan mechanics and outcomes):
| Metric | Weight | Threshold | Goal | Maximum | Actual | Payout Contribution |
|---|---|---|---|---|---|---|
| Adjusted Operating Income | 85% | $80.78m | $124.27m | $142.92m | $141.4m | 143.6% of bonus potential after weighting |
| Currency‑Neutral Sales | 15% | $1,172.07m | $1,280.95m | $1,325.79m | $1,317.4m | 24.2% of bonus potential after weighting |
| Overall Achievement | — | — | — | — | — | ~167.7% of bonus opportunity; payout for Poppens $735,029 |
Long‑Term Incentives (2024 grants):
| Grant Date | Award Type | Threshold (#) | Target (#) | Maximum (#) | Grant‑date Fair Value ($) |
|---|---|---|---|---|---|
| 2‑26‑2024 | RSUs | — | 28,161 | 28,161 | $372,852 |
| 2‑26‑2024 | Performance Shares (PSUs) | 7,040 | 28,161 | 56,322 | $372,852 |
LTI Plan (2022 awards – performance outcomes and vesting):
| Metric | Weight | Targeting Approach | Actual Achievement | Payout | Vesting |
|---|---|---|---|---|---|
| Adjusted EBITDA (annual) | 75% | Annual thresholds/goals, 2022–2024 | 2024: $189.0m vs $171.7m goal → 167.0% achievement | Earned per formula | Committee certified and shares vested Feb 2025 |
| 3‑yr Cumulative ROIC | 25% | 8.68% / 12.40% / 13.64% (T/G/M) | 12.55% actual → 112.2% achievement | Earned per formula | Vested Feb 2025 |
| Total 2022 LTI Achievement | — | — | — | 108.3% of award | Feb 2025 |
Notes:
- No stock options granted to executive officers in the past three years .
Equity Ownership & Alignment
| Item | As of 3/15/2024 | As of 3/14/2025 |
|---|---|---|
| Beneficial Ownership (Common Shares) | 76,284 | 81,875 |
| Percent of Shares Outstanding | <1% (per footnote) | <1% (per footnote) |
| Unvested Time‑Based/RSU Shares (#) | 118,378 (2023 year‑end) | 101,950 (2024 year‑end) |
| Unearned PSUs (Target, #) | 62,219 (2023 year‑end) | 75,087 (2024 year‑end) |
Stock Ownership Guidelines and Compliance:
- Requirement: 2x base salary for executive officers .
- Status: As of end‑2023, Poppens had not yet met the guideline; by 2025, all NEOs have met the target .
Hedging/Pledging:
- Officers are prohibited from hedging and pledging Company stock .
Vesting Schedule (Poppens outstanding awards – scheduled events):
| Vest Date | Shares |
|---|---|
| 1/12/2025 | 11,584 |
| 1/24/2025 | 20,902 |
| 2/24/2025 | 8,581 |
| 2/26/2025 | 9,387 |
| 1/12/2026 | 11,584 |
| 2/26/2026 | 9,387 |
| 2/27/2026 | 21,138 |
| 2/26/2027 | 9,387 |
Employment Terms
Severance & Change‑in‑Control economics (James Poppens):
| Scenario | Base Salary ($) | Bonus ($) | Equity Awards ($) | Health Insurance ($) |
|---|---|---|---|---|
| Termination without Cause | 487,000 | 1,169,291 | 2,432,808 | 24,296 |
| Termination following Change‑in‑Control (double trigger) | 974,000 | 1,607,591 | 4,390,935 | 24,296 |
| Retirement/Resignation | — | 730,990 | — | — |
Key provisions:
- “Double‑trigger” change‑in‑control; lump‑sum severance equals 2x base salary + 2x greater of target or 3‑year average bonus; prorated annual bonus; continued health coverage (12 months for non‑CEO) .
- Non‑compete and non‑solicit restrictions for 12–24 months post‑termination depending on circumstances .
- Clawback policy compliant with SEC/Nasdaq; recovery of excess incentive comp over prior 3 fiscal years upon accounting restatement, regardless of fault .
- Retirement vesting: modified “Rule of 75” adopted in 2023 allows pro‑rata vesting upon eligible retirement; Poppens (age 60) would vest in a portion of 2023/2024 awards on retirement per award terms .
Performance & Pay Alignment Indicators
| Measure | 2023 | 2024 |
|---|---|---|
| Currency‑Neutral Sales ($m) | $1,260.1 | $1,317.4 |
| Adjusted Operating Income ($m) | $116.4 | $141.4 |
| Adjusted EBITDA ($m) | $162.0 | $189.0 |
| TSR (value of $100 base at 12/29/2019) | 77.74 | 154.07 |
Compensation Committee practices:
- Independent committee; uses Pearl Meyer as independent consultant; peer group updated to reflect industry/size and target compensation between the 50th and 75th percentile .
- 2024 say‑on‑pay support ~94% of votes cast .
Risk Indicators & Red Flags
- Hedging and pledging prohibited for officers and directors (alignment positive) .
- No tax gross‑ups for named executives (shareholder‑friendly) .
- No stock option repricing; options not granted in recent years .
- Related party disclosure: employment of director’s family member; not connected to Poppens .
Compensation Structure Analysis
- Mix shifts: Emphasis on PSUs and RSUs; options not used (lower risk, stronger retention) .
- At‑risk pay: Annual bonus 100% tied to financial metrics (85% AOI, 15% currency‑neutral sales) and LTI tied to adjusted EBITDA and ROIC, indicating robust pay‑for‑performance alignment .
- Ownership discipline: 2x salary guideline; Poppens achieved compliance by 2025; retention expectations include holding net after‑tax shares from vestings .
Investment Implications
- Alignment is strong: 100% metric‑based annual bonus, PSUs with EBITDA/ROIC, clawbacks, and prohibition on hedging/pledging reduce agency risk .
- Retention risk modest near term: Significant scheduled vesting through 2027 and Rule‑of‑75 retirement vesting could create optionality but also retention leverage as awards vest ratably; watch vest dates around 1Q and late February annually for potential supply events .
- Change‑in‑control protection is standard mid‑cap: 2x CIC severance for non‑CEO with double trigger and equity acceleration—balanced but could incentivize deal neutrality rather than resistance .
- Strategy execution signal: Commercial leadership tenure across FLOR restructuring and Americas presidency aligns with recent revenue/EBITDA momentum and TSR expansion; continued outperformance of AOI and currency‑neutral sales targets supports incentive realizations tied to operating leverage .