| |
Important Notice Regarding the Internet Availability of Proxy Materials for the
Shareholder Meeting to Be Held on May 2, 2023
The Proxy Statement and Notice of Annual Meeting and the 2022 Annual Report
on Form 10-K are available on our website at https://www.weycogroup.com/home/investor.html |
| |
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Page
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Introduction | | | | | 1 | | |
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| | | | 21 | | |
Name of Beneficial Owner
|
| |
Number of Shares and
Nature of Beneficial Ownership(1)(2)(3) |
| |
Percent
of Class(4) |
| ||||||
Thomas W. Florsheim
|
| | | | 187,195 | | | | | | 2.0% | | |
Thomas W. Florsheim, Jr.
|
| | | | 2,174,284(5)(6)(7) | | | | | | 22.6% | | |
John W. Florsheim
|
| | | | 997,421 | | | | | | 10.4% | | |
Robert Feitler
|
| | | | 247,154 | | | | | | 2.6% | | |
Frederick P. Stratton, Jr.
|
| | | | 171,444 | | | | | | 1.8% | | |
Cory L. Nettles
|
| | | | 26,587 | | | | | | * | | |
Tina Chang
|
| | | | 24,527 | | | | | | * | | |
All Directors and Executive Officers as a Group (16 persons including the above-named)
|
| | | | 4,109,229 | | | | | | 41.2% | | |
|
Thomas W. Florsheim
|
| | | | 168,395 | | |
|
Thomas W. Florsheim, Jr.
|
| | | | 1,345,794 | | |
|
John W. Florsheim
|
| | | | 704,119 | | |
|
Frederick P. Stratton, Jr.
|
| | | | 50,300 | | |
|
All Directors and Executive Officers as a Group
|
| | | | 2,268,608 | | |
Name and Address of Beneficial Owner
|
| |
Amount and
Nature of Beneficial Ownership |
| |
Percent
|
| ||||||
(1)
Dimensional Fund Advisors LP
6300 Bee Cave Road Building One Austin, Texas 78746
|
| | | | 524,059 | | | | | | 5.4% | | |
| | |
Tina
Chang |
| |
Robert
Feitler |
| |
John W.
Florsheim |
| |
Thomas W.
Florsheim |
| |
Thomas W.
Florsheim, Jr. |
| |
Cory L.
Nettles |
| |
Frederick P.
Stratton, Jr. |
| |||||||||||||||||||||
Skills and Experience | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Executive Leadership
|
| | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
Business Development & Strategy
|
| | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
Technology
|
| | | | X | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Sales, Marketing & Brand
Management |
| | | | | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | X | | |
Finance or Accounting
|
| | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | |
Legal or Regulatory
|
| | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | |
Operations
|
| | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
Public Company Board Service
|
| | | | X | | | | | | X | | | | | | | | | | | | | | | | | | X | | | | | | X | | | | | | X | | |
Independence
|
| | | | X | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | X | | |
Demographics | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Age
|
| | | | 51 | | | | | | 92 | | | | | | 59 | | | | | | 92 | | | | | | 65 | | | | | | 53 | | | | | | 84 | | |
Gender identity(1)
|
| | | | F | | | | | | M | | | | | | M | | | | | | M | | | | | | M | | | | | | M | | | | | | M | | |
African American
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | |
Asian
|
| | | | X | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Caucasian
|
| | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | X | | |
LGBTQ+
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Attributes and Experience of Director / Director Nominees
|
|
Executive Leadership | | | Directors who have served as a founder, CEO or CEO-equivalent, COO, senior executive or business unit leader of a company with a deep understanding of company offerings and industry | |
Business Development & Strategy | | | Directors with experience in strategic planning, mergers and acquisitions, growth strategies or business expansion | |
Technology | | | Directors with extensive experience in software products, services, engineering or development, computer science, information technology, cybersecurity or technology research and development | |
Sales, Marketing & Brand Management | | | Directors with specific and extensive career experience focusing on sales management, marketing campaign management, marketing/advertising products and services or public relations | |
Finance or Accounting | | | Directors with a deep understanding of finance, accounting principles and methodologies, financial reporting, financial management, capital markets, financial statements, audit processes and procedures or internal controls | |
Legal or Regulatory | | | Directors with governmental policy, legal knowledge or experience with compliance and regulatory issues within a public company or a regulatory body, including any individual who has a CPA, JD, or significant CFO experience | |
Operations | | | Directors having expertise in business operations management, supply chain management, integration or distribution | |
Public Company Board Service | | | Directors who currently serve, or have served, on other public company boards | |
| | |
2022
|
| |
2021
|
| ||||||
Audit Fees(a)
|
| | |
$
|
325,000
|
| | | | $ | 292,475 | | |
Audit-Related Fees(b)
|
| | |
|
26,000
|
| | | | | 22,800 | | |
Tax Fees(c)
|
| | |
|
—
|
| | | | | 3,100 | | |
All Other Fees
|
| | |
|
—
|
| | | | | — | | |
Total
|
| | |
$
|
351,000
|
| | | | $ | 311,500 | | |
Name
(a) |
| |
Fees Earned or
Paid in Cash ($) (b) |
| |
Stock
Awards ($)(1) (c) |
| |
Option
Awards ($)(2) (d) |
| |
All Other
Compensation(3) (g) |
| |
Total ($)
(h) |
| |||||||||||||||
Thomas W. Florsheim
|
| | | $ | 30,000 | | | | | $ | 28,830 | | | | | $ | 23,730 | | | | | $ | 14,400 | | | | | $ | 96,960 | | |
Tina Chang
|
| | | $ | 30,000 | | | | | $ | 28,830 | | | | | $ | 23,730 | | | | | $ | 0 | | | | | $ | 82,560 | | |
Robert Feitler
|
| | | $ | 30,000 | | | | | $ | 28,830 | | | | | $ | 23,730 | | | | | $ | 0 | | | | | $ | 82,560 | | |
Cory L. Nettles
|
| | | $ | 30,000 | | | | | $ | 28,830 | | | | | $ | 23,730 | | | | | $ | 0 | | | | | $ | 82,560 | | |
Frederick P. Stratton, Jr.
|
| | | $ | 30,000 | | | | | $ | 28,830 | | | | | $ | 23,730 | | | | | $ | 0 | | | | | $ | 82,560 | | |
Name
|
| |
Stock
Awards Outstanding |
| |
Option
Awards Outstanding |
| ||||||
Thomas W. Florsheim
|
| | | | 2,500 | | | | | | 26,500 | | |
Tina Chang
|
| | | | 2,500 | | | | | | 21,425 | | |
Robert Feitler
|
| | | | 2,500 | | | | | | 26,500 | | |
Cory L. Nettles
|
| | | | 2,500 | | | | | | 26,500 | | |
Frederick P. Stratton, Jr.
|
| | | | 2,500 | | | | | | 26,500 | | |
Name and Principal Position
(a) |
| |
Year
(b) |
| |
Salary ($)
(c) |
| |
Stock
Awards ($) (e) |
| |
Option
Awards ($) (f) |
| |
Non-equity
incentive plan compensation (g) |
| |
All other
compensation ($) (i) |
| |
Total ($)
(j) |
| |||||||||||||||||||||
Thomas W. Florsheim, Jr.
Chairman and Chief Executive Officer |
| | | | 2022 | | | | | $ | 731,300 | | | | | $ | 43,245(1) | | | | | $ | 47,460(3) | | | | | $ | 493,628(5) | | | | | $ | 32,034(6) | | | | | $ | 1,347,667 | | |
| | | 2021 | | | | | $ | 710,000 | | | | | $ | 48,000(2) | | | | | $ | 75,840(4) | | | | | $ | 447,300(5) | | | | | $ | 29,332(6) | | | | | $ | 1,310,472 | | | ||
John W. Florsheim
President, Chief Operating Officer and Assistant Secretary |
| | | | 2022 | | | | | $ | 698,855 | | | | | $ | 43,245(1) | | | | | $ | 47,460(3) | | | | | $ | 471,727(5) | | | | | $ | 18,313(6) | | | | | $ | 1,279,600 | | |
| | | 2021 | | | | | $ | 678,500 | | | | | $ | 48,000(2) | | | | | $ | 75,840(4) | | | | | $ | 427,455(5) | | | | | $ | 21,126(6) | | | | | $ | 1,250,921 | | | ||
Kevin S. Schiff
Vice President, and President of Florsheim Brand |
| | | | 2022 | | | | | $ | 376,000 | | | | | $ | 23,064(1) | | | | | $ | 26,442(3) | | | | | $ | 157,920(5) | | | | | $ | 12,891(7) | | | | | $ | 596,317 | | |
| | | 2021(8) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | $ | — | | |
| Year (a) | | | Summary Compensation Table Total for PEO(1) (b) | | | Compensation Actually Paid to PEO(2) (c) | | | Average Summary Compensation Table Total for Non-PEO NEOs(3) (d) | | | Average Compensation Actually Paid to Non-PEO NEOs(4) (e) | | | Value of Initial Fixed $100 Investments based on Total Shareholder Return(5) (f) | | | Net Income (in Millions)(6) (h) | | ||||||||||||||||||
| 2022 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||||
| 2021 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | | |
| Year | | | Reported Summary Compensation Table Total for PEO | | | Reported Value of Equity Awards(a) | | | Equity Award Adjustments(b) | | | Compensation Actually Paid to PEO | | ||||||||||||
| 2022 | | | | | | | | | | ( | | | | | | | | | | | | | |||
| 2021 | | | | | | | | | | ( | | | | | | | | | | | | |
| Year | | | Year End Fair Value of Equity Awards | | | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year | | | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation | | | Total Equity Award Adjustments | | |||||||||||||||||||||
| 2022 | | | | $ | | | | | $ | ( | | | | | $ | — | | | | | $ | | | | | $ | — | | | | | $ | | | | | $ | | | ||||
| 2021 | | | | $ | | | | | $ | | | | | $ | — | | | | | $ | | | | | $ | — | | | | | $ | | | | | $ | | |
| Year | | | Average Reported Summary Compensation Table Total for Non-PEO NEO’s | | | Averaged Reported Fair Value of Equity Awards | | | Average Equity Award Adjustments(a) | | | Average Compensation Actually Paid to Non-PEO NEOs | | ||||||||||||
| 2022 | | | | $ | | | | | $ | ( | | | | | $ | | | | | $ | | | |||
| 2021 | | | | $ | | | | | $ | ( | | | | | $ | | | | | $ | | |
| Year | | | Average Year End Fair Value of Equity Awards | | | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards | | | Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year | | | Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year | | | Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation | | | Total Average Equity Award Adjustments | | |||||||||||||||||||||
| 2022 | | | | $ | | | | | $ | ( | | | | | $ | — | | | | | $ | | | | | $ | — | | | | | $ | | | | | $ | | | ||||
| 2021 | | | | $ | | | | | $ | | | | | $ | — | | | | | $ | | | | | $ | — | | | | | $ | | | | | $ | | |
| | | | | | | | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||
Name
(a) |
| |
Grant Date
|
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable (b) |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable(1) (c) |
| |
Option
Exercise Price ($) (e) |
| |
Option
Expiration Date (f) |
| |
Number of
Shares or Units of Stock That Have Not Vested (#)(3) (g) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($)(4) (h) |
| |||||||||||||||||||||
Thomas W. Florsheim, Jr.
|
| | |
|
8/25/2015
|
| | | |
|
32,000
|
| | | | | | | | | |
$
|
25.64
|
| | | |
|
8/25/2023(2)
|
| | | | | | | | | | | | | |
| |
|
8/25/2016
|
| | | |
|
32,000
|
| | | | | | | | | |
$
|
25.51
|
| | | |
|
8/25/2023(2)
|
| | | | | | | | | | | | | | ||
| |
|
8/25/2017
|
| | | |
|
15,000
|
| | | | | | | | | |
$
|
27.94
|
| | | |
|
8/25/2027
|
| | | | | | | | | | | | | | ||
| |
|
8/23/2018
|
| | | |
|
6,400
|
| | | |
|
1,600
|
| | | |
$
|
37.22
|
| | | |
|
8/23/2028
|
| | | | | | | | | | | | | | ||
| |
|
8/14/2019
|
| | | |
|
6,000
|
| | | |
|
4,000
|
| | | |
$
|
23.38
|
| | | |
|
8/14/2029
|
| | | |
|
500
|
| | | |
$
|
10,580
|
| | ||
| |
|
8/26/2020
|
| | | |
|
4,000
|
| | | |
|
6,000
|
| | | |
$
|
18.00
|
| | | |
|
8/26/2030
|
| | | |
|
1,000
|
| | | |
$
|
21,160
|
| | ||
| |
|
8/25/2021
|
| | | |
|
2,000
|
| | | |
|
8,000
|
| | | |
$
|
24.00
|
| | | |
|
8/25/2031
|
| | | |
|
1,500
|
| | | |
$
|
31,740
|
| | ||
| |
|
8/25/2022
|
| | | | | | | | | |
|
7,000
|
| | | |
$
|
28.83
|
| | | |
|
8/25/2032
|
| | | |
|
1,500
|
| | | |
$
|
31,740
|
| | ||
John W. Florsheim
|
| | |
|
8/25/2015
|
| | | |
|
32,000
|
| | | | | | | | | |
$
|
25.64
|
| | | |
|
8/25/2023(2)
|
| | | | | | | | | | | | | |
| |
|
8/25/2016
|
| | | |
|
32,000
|
| | | | | | | | | |
$
|
25.51
|
| | | |
|
8/25/2023(2)
|
| | | | | | | | | | | | | | ||
| |
|
8/25/2017
|
| | | |
|
15,000
|
| | | | | | | | | |
$
|
27.94
|
| | | |
|
8/25/2027
|
| | | | | | | | | | | | | | ||
| |
|
8/23/2018
|
| | | |
|
6,400
|
| | | |
|
1,600
|
| | | |
$
|
37.22
|
| | | |
|
8/23/2028
|
| | | | | | | | | | | | | | ||
| |
|
8/14/2019
|
| | | |
|
6,000
|
| | | |
|
4,000
|
| | | |
$
|
23.38
|
| | | |
|
8/14/2029
|
| | | |
|
500
|
| | | |
$
|
10,580
|
| | ||
| |
|
8/26/2020
|
| | | |
|
4,000
|
| | | |
|
6,000
|
| | | |
$
|
18.00
|
| | | |
|
8/26/2030
|
| | | |
|
1,000
|
| | | |
$
|
21,160
|
| | ||
| |
|
8/25/2021
|
| | | |
|
2,000
|
| | | |
|
8,000
|
| | | |
$
|
24.00
|
| | | |
|
8/25/2031
|
| | | |
|
1,500
|
| | | |
$
|
31,740
|
| | ||
| |
|
8/25/2022
|
| | | | | | | | | |
|
7,000
|
| | | |
$
|
28.83
|
| | | |
|
8/25/2032
|
| | | |
|
1,500
|
| | | |
$
|
31,740
|
| | ||
Kevin S. Schiff
|
| | |
|
8/25/2015
|
| | | |
|
2,500
|
| | | | | | | | | |
$
|
25.64
|
| | | |
|
8/25/2023(2)
|
| | | | | | | | | | | | | |
| |
|
8/25/2016
|
| | | |
|
4,000
|
| | | | | | | | | |
$
|
25.51
|
| | | |
|
8/25/2023(2)
|
| | | | | | | | | | | | | | ||
| |
|
8/25/2017
|
| | | |
|
6,000
|
| | | | | | | | | |
$
|
27.94
|
| | | |
|
8/25/2027
|
| | | | | | | | | | | | | | ||
| |
|
8/23/2018
|
| | | |
|
3,200
|
| | | |
|
800
|
| | | |
$
|
37.22
|
| | | |
|
8/23/2028
|
| | | | | | | | | | | | | | ||
| |
|
8/14/2019
|
| | | |
|
3,600
|
| | | |
|
2,400
|
| | | |
$
|
23.38
|
| | | |
|
8/14/2029
|
| | | |
|
250
|
| | | |
$
|
5,290
|
| | ||
| |
|
8/26/2020
|
| | | |
|
2,400
|
| | | |
|
3,600
|
| | | |
$
|
18.00
|
| | | |
|
8/26/2030
|
| | | |
|
500
|
| | | |
$
|
10,580
|
| | ||
| |
|
8/25/2021
|
| | | |
|
1,200
|
| | | |
|
4,800
|
| | | |
$
|
24.00
|
| | | |
|
8/25/2031
|
| | | |
|
750
|
| | | |
$
|
15,870
|
| | ||
| |
|
8/25/2022
|
| | | | | | | | | |
|
3,900
|
| | | |
$
|
28.83
|
| | | |
|
8/25/2032
|
| | | |
|
800
|
| | | |
$
|
16,928
|
| |
|
April 6, 2023
Milwaukee, Wisconsin |
| |
JUDY ANDERSON
Secretary |
|