XML 9 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure [Table]    
Pay vs Performance [Table Text Block]
Pay Versus Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company.
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
$ 1,347,667 $ 1,360,466 $ 937,959 $ 948,056 $ 145 $ 29.5
2021
$ 1,310,472 $ 1,433,139 $ 1,064,536 $ 1,187,203 $ 153 $ 20.6
(1)
The dollar amounts reported in column (b) are the amounts of total compensation reported for Tom Florsheim, Jr., our principal executive officer (“PEO”), for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation — Summary Compensation Table.”
(2)
The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Tom Florsheim, Jr. as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Tom during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Tom’s total compensation for each year to determine the compensation actually paid:
Year
Reported Summary
Compensation
Table Total for PEO
Reported Value of
Equity Awards
(a)
Equity Award
Adjustments
(b)
Compensation
Actually Paid to
PEO
2022
1,347,667 (90,705) 103,504 1,360,466
2021
1,310,472 (123,840) 246,507 1,433,139
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
(b)
The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal
year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:
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
$ 55,050 $ (6,340) $ $ 50,390 $ $ 4,404 $ 103,504
2021
$ 87,280 $ 95,724 $    — $ 59,053 $    — $ 4,450 $ 246,507
(3)
The dollar amounts reported in column (d) represent the average of the amounts reported for our named executive officers (“NEOs”) as a group (excluding Tom Florsheim, Jr.) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding Tom Florsheim, Jr.) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, John W. Florsheim and Kevin S. Schiff; and (ii) for 2021, John W. Florsheim and John F. Wittkowske.
(4)
The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding Tom Florsheim, Jr.), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding Tom Florsheim, Jr.) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding Tom Florsheim, Jr.) for each year to determine the compensation actually paid, using the same methodology described above in Note 2:
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
$ 937,959 $ (70,106) $ 80,203 $ 948,056
2021
$ 1,064,536 $ (123,840) $ 246,507 $ 1,187,203
(a)
The amounts deducted or added in calculating the total average equity award adjustments are as follows:
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
$ 42,483 $ (4,683) $ $ 39,101 $ $ 3,302 $ 80,203
2021
$ 87,280 $ 95,724 $    — $ 59,053 $    — $ 4,450 $ 246,507
(5)
The cumulative total shareholder return (“TSR”) reported in column (f) is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.
(6)
The dollar amounts reported in column (h) represent the amount of net income reflected in our audited financial statements for the applicable year.
 
Named Executive Officers, Footnote [Text Block]
(1)
The dollar amounts reported in column (b) are the amounts of total compensation reported for Tom Florsheim, Jr., our principal executive officer (“PEO”), for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation — Summary Compensation Table.”
 
Peer Group Issuers, Footnote [Text Block]
(5)
The cumulative total shareholder return (“TSR”) reported in column (f) is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.
 
PEO Total Compensation Amount $ 1,347,667 $ 1,310,472
PEO Actually Paid Compensation Amount $ 1,360,466 1,433,139
Adjustment To PEO Compensation, Footnote [Text Block]
(2)
The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Tom Florsheim, Jr. as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Tom during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Tom’s total compensation for each year to determine the compensation actually paid:
Year
Reported Summary
Compensation
Table Total for PEO
Reported Value of
Equity Awards
(a)
Equity Award
Adjustments
(b)
Compensation
Actually Paid to
PEO
2022
1,347,667 (90,705) 103,504 1,360,466
2021
1,310,472 (123,840) 246,507 1,433,139
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
(b)
The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal
year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:
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
$ 55,050 $ (6,340) $ $ 50,390 $ $ 4,404 $ 103,504
2021
$ 87,280 $ 95,724 $    — $ 59,053 $    — $ 4,450 $ 246,507
 
Non-PEO NEO Average Total Compensation Amount $ 937,959 1,064,536
Non-PEO NEO Average Compensation Actually Paid Amount $ 948,056 1,187,203
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
(3)
The dollar amounts reported in column (d) represent the average of the amounts reported for our named executive officers (“NEOs”) as a group (excluding Tom Florsheim, Jr.) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding Tom Florsheim, Jr.) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, John W. Florsheim and Kevin S. Schiff; and (ii) for 2021, John W. Florsheim and John F. Wittkowske.
(4)
The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding Tom Florsheim, Jr.), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding Tom Florsheim, Jr.) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding Tom Florsheim, Jr.) for each year to determine the compensation actually paid, using the same methodology described above in Note 2:
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
$ 937,959 $ (70,106) $ 80,203 $ 948,056
2021
$ 1,064,536 $ (123,840) $ 246,507 $ 1,187,203
(a)
The amounts deducted or added in calculating the total average equity award adjustments are as follows:
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
$ 42,483 $ (4,683) $ $ 39,101 $ $ 3,302 $ 80,203
2021
$ 87,280 $ 95,724 $    — $ 59,053 $    — $ 4,450 $ 246,507
 
Total Shareholder Return Amount $ 145 153
Net Income (Loss) $ 29,500,000 20,600,000
PEO Name Tom Florsheim, Jr.,  
PEO [Member] | Equity Awards [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount $ (90,705) (123,840)
PEO [Member] | Total Equity Awards Adjustments [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount 103,504 246,507
PEO [Member] | Year End Fair Value of Equity Awards [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount 55,050 87,280
PEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount (6,340) 95,724
PEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount 50,390 59,053
PEO [Member] | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount 4,404 4,450
Non-PEO NEO [Member] | Equity Awards [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount (70,106) (123,840)
Non-PEO NEO [Member] | Total Equity Awards Adjustments [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount 80,203 246,507
Non-PEO NEO [Member] | Year End Fair Value of Equity Awards [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount 42,483 87,280
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount (4,683) 95,724
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount 39,101 59,053
Non-PEO NEO [Member] | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]    
Pay vs Performance Disclosure [Table]    
Adjustment to Compensation Amount $ 3,302 $ 4,450