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Wolverine World Wide Inc./DE – ‘10-K’ for 12/30/23 – ‘EX-97’

On:  Thursday, 2/22/24, at 2:08pm ET   ·   For:  12/30/23   ·   Accession #:  110471-24-57   ·   File #:  1-06024

Previous ‘10-K’:  ‘10-K’ on 2/23/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   47 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/22/24  Wolverine World Wide Inc./DE      10-K       12/30/23  135:15M

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.23M 
 5: EX-10.16    Exhibit-10.16 Participant Schedule                  HTML     35K 
 6: EX-10.49    Material Contract                                   HTML     82K 
 7: EX-10.59    Material Contract                                   HTML    662K 
 2: EX-10.6     Material Contract                                   HTML    106K 
 8: EX-10.60    Material Contract                                   HTML    630K 
 3: EX-10.7     Exhibiit-10.7 Participant Schedule                  HTML     36K 
 4: EX-10.8     Exhibit-10.8 Participant Schedule                   HTML     38K 
 9: EX-21       Exhibit-21 Subsidiaries                             HTML     50K 
10: EX-23       Exhibit-23 Auditor Consent                          HTML     37K 
14: EX-97       Exhibit-97 Clawback                                 HTML     41K 
11: EX-31.1     Exhibit-31.1 CEO Certification                      HTML     39K 
12: EX-31.2     Exhibit-31.2 CFO Certification                      HTML     39K 
13: EX-32       Exhibit-32 Officer Certifications                   HTML     36K 
20: R1          Document and Entity Information                     HTML     99K 
21: R2          Auditor Information                                 HTML     40K 
22: R3          Consolidated Statements of Operations               HTML    123K 
23: R4          Consolidated Statements of Comprehensive Income     HTML     90K 
24: R5          Consolidated Statements of Comprehensive Income     HTML     47K 
                (Parenthetical)                                                  
25: R6          Consolidated Balance Sheets                         HTML    176K 
26: R7          Consolidated Balance Sheets (Parenthetical)         HTML     49K 
27: R8          Consolidated Statements of Cash Flows               HTML    154K 
28: R9          Consolidated Statements of Stockholders' Equity     HTML    133K 
29: R10         Consolidated Statements of Stockholders' Equity     HTML     48K 
                (Parenthetical)                                                  
30: R11         Summary of Significant Accounting Policies (Notes)  HTML     95K 
31: R12         New Accounting Standards (Notes)                    HTML     54K 
32: R13         Earnings Per Share (Notes)                          HTML     61K 
33: R14         Goodwill and Other Intangibles (Notes)              HTML     84K 
34: R15         Accounts Receivable (Notes)                         HTML     40K 
35: R16         Revenue From Contracts With Customers (Notes)       HTML     73K 
36: R17         Inventories (Notes)                                 HTML     37K 
37: R18         Debt (Notes)                                        HTML     63K 
38: R19         Property, Plant and Equipment (Notes)               HTML     47K 
39: R20         Leases (Notes)                                      HTML     57K 
40: R21         Financial Instruments and Risk Management (Notes)   HTML     52K 
41: R22         Stock-Based Compensation (Notes)                    HTML     98K 
42: R23         Retirement Plans (Notes)                            HTML    120K 
43: R24         Income Taxes (Notes)                                HTML    134K 
44: R25         Accumulated Other Comprehensive Income (Loss)       HTML     73K 
                (Notes)                                                          
45: R26         Fair Value Measurements (Notes)                     HTML     55K 
46: R27         Litigation and Contingencies (Notes)                HTML     71K 
47: R28         Business Segments (Notes)                           HTML    136K 
48: R29         Investments, Equity Method and Joint Ventures       HTML     62K 
                (Notes)                                                          
49: R30         Discontinued Operations and Disposal Groups         HTML     77K 
                (Notes)                                                          
50: R31         Subsequent Events (Notes)                           HTML     41K 
51: R32         Schedule II - Valuation and Qualifying Accounts     HTML     86K 
                (Notes)                                                          
52: R33         Pay vs Performance Disclosure                       HTML     47K 
53: R34         Insider Trading Arrangements                        HTML     41K 
54: R35         Summary of Significant Accounting Policies          HTML    160K 
                (Policies)                                                       
55: R36         Earnings Per Share (Tables)                         HTML     59K 
56: R37         Goodwill and Other Intangibles (Tables)             HTML     79K 
57: R38         Revenue From Contracts With Customers (Tables)      HTML     65K 
58: R39         Debt (Tables)                                       HTML     57K 
59: R40         Property, Plant and Equipment (Tables)              HTML     46K 
60: R41         Leases (Tables)                                     HTML     60K 
61: R42         Financial Instruments and Risk Management (Tables)  HTML     52K 
62: R43         Stock-Based Compensation (Tables)                   HTML     90K 
63: R44         Retirement Plans (Tables)                           HTML    119K 
64: R45         Income Taxes (Tables)                               HTML    135K 
65: R46         Accumulated Other Comprehensive Income (Tables)     HTML     71K 
66: R47         Fair Value Measurements (Tables)                    HTML     50K 
67: R48         Litigation and Contingencies (Tables)               HTML     56K 
68: R49         Business Segments (Tables)                          HTML    123K 
69: R50         Investments, Equity Method and Joint Ventures       HTML     61K 
                (Tables)                                                         
70: R51         Discontinued Operations and Disposal Groups         HTML     67K 
                (Tables)                                                         
71: R52         Summary of Significant Accounting Policies -        HTML     80K 
                Additional Information (Detail)                                  
72: R53         Earnings Per Share Computation of Basic and         HTML     80K 
                Diluted Earnings Per Share (Details)                             
73: R54         Earnings Per Share Additional Information           HTML     53K 
                (Details)                                                        
74: R55         Goodwill and Other Intangibles Goodwill and         HTML     52K 
                Indefinite Lived Intangibles (Details)                           
75: R56         Goodwill and Other Intangibles Amortizable          HTML     51K 
                Intangibles (Details)                                            
76: R57         Goodwill and Other Intangibles Estimated Future     HTML     46K 
                Amortization Expense (Details)                                   
77: R58         Goodwill and Other Intangibles Additional           HTML     52K 
                Information (Details)                                            
78: R59         Accounts Receivable (Details)                       HTML     46K 
79: R60         Revenue From Contracts With Customers               HTML     51K 
                Disaggregated Revenue (Details)                                  
80: R61         Revenue From Contracts With Customers License       HTML     41K 
                Contracts (Details)                                              
81: R62         Revenue From Contracts With Customers Contract      HTML     44K 
                Balances (Details)                                               
82: R63         Inventories - Additional Information (Detail)       HTML     41K 
83: R64         Debt (Schedule of Borrowings) (Details)             HTML     57K 
84: R65         Schedule of Annual Maturities of Long-Term Debt     HTML     52K 
                (Detail)                                                         
85: R66         Debt (Additional Information) (Details)             HTML     87K 
86: R67         Property, Plant and Equipment Property, Plant and   HTML     52K 
                Equipment - Schedule of Property, Plant and                      
                Equipment (Details)                                              
87: R68         Property, Plant and Equipment - Additional          HTML     37K 
                Information (Detail)                                             
88: R69         Leases Operating Lease Costs (Details)              HTML     46K 
89: R70         Leases, Supplemental Cash Flow Information          HTML     39K 
                (Details)                                                        
90: R71         Leases Future Lease Payments (Details)              HTML     54K 
91: R72         Leases Additional Information (Details)             HTML     39K 
92: R73         Financial Instruments and Risk Management (Fair     HTML     40K 
                Value of Debt) (Details)                                         
93: R74         Financial Instruments and Risk Management           HTML     49K 
                (Additional Information) (Details)                               
94: R75         Financial Instruments and Risk Management           HTML     47K 
                (Derivative Notional Amounts) (Details)                          
95: R76         Financial Instruments and Risk Management           HTML     46K 
                (Financial Assets and Liabilities Measured at Fair               
                Value) (Details)                                                 
96: R77         Stock-Based Compensation Summary of Nonvested       HTML     65K 
                Restricted Shares Issued Under Stock Award Plans                 
                (Detail)                                                         
97: R78         Stock-Based Compensation Summary of Transactions    HTML     73K 
                Under Stock Option Plans (Detail)                                
98: R79         Stock-Based Compensation Additional Information     HTML     84K 
                (Detail)                                                         
99: R80         Retirement Plans - Changes in Company's Assets and  HTML     83K 
                Related Obligations for its Pension Plans (Detail)               
100: R81         Retirement Plans - Summary of Net Pension and SERP  HTML     58K  
                Expense Recognized (Detail)                                      
101: R82         Retirement Plans - Weighted Average Assumptions     HTML     54K  
                Used to Determine Benefit Obligations and Net                    
                Periodic Benefit Cost (Detail)                                   
102: R83         Retirement Plans - Asset Allocations (Detail)       HTML     62K  
103: R84         Retirement Plans - Expected Benefit Payments        HTML     47K  
                (Detail)                                                         
104: R85         Retirement Plans - Additional Information (Detail)  HTML     76K  
105: R86         Income Taxes - Geographic Components of Earnings    HTML     45K  
                Before Income Taxes (Detail)                                     
106: R87         Income Taxes - Provisions for Income Taxes          HTML     57K  
                (Detail)                                                         
107: R88         Income Taxes - Reconciliation of Income Tax         HTML     87K  
                Expense, Net of Federal Income Tax Rate (Detail)                 
108: R89         Income Taxes - Significant Components of Deferred   HTML     80K  
                Income Tax Assets and Liabilities (Detail)                       
109: R90         Income Taxes - Summarizes Unrecognized Tax          HTML     46K  
                Benefits (Detail)                                                
110: R91         Income Taxes - Additional Information (Detail)      HTML     80K  
111: R92         Accumulated Other Comprehensive Income (Changes in  HTML     77K  
                Accumulated Other Comprehensive Income (Loss))                   
                (Details)                                                        
112: R93         Fair Value Measurements Recurring and Nonrecurring  HTML     55K  
                Fair Value Measurements (Details)                                
113: R94         Fair Value Measurements Fair Value Disclosures      HTML     40K  
                (Details)                                                        
114: R95         Fair Value Measures and Disclosures Other Details   HTML     37K  
                (Details)                                                        
115: R96         Litigation and Contingencies Environmental          HTML     44K  
                Remediation Obligation (Details)                                 
116: R97         Litigation and Contingencies Environmental          HTML     57K  
                Remediation (Details)                                            
117: R98         Litigation and Contingencies - Minimum Royalty and  HTML     54K  
                Advertising Obligations Due Under Terms of Certain               
                Licenses Held by Company (Detail)                                
118: R99         Litigation and Contingencies - Royalty and          HTML     42K  
                Adverting Expense (Detail)                                       
119: R100        Business Segments - Business Segment Information    HTML     87K  
                (Detail)                                                         
120: R101        Business Segments - Geographic Information, Based   HTML     57K  
                on Shipping Destination, Related to Revenue from                 
                External Customers (Detail)                                      
121: R102        Business Segments - Company's Long-Lived Assets     HTML     42K  
                (Primarily Property, Plant and Equipment) (Detail)               
122: R103        Business Segments - Additional Information          HTML     37K  
                (Detail)                                                         
123: R104        JV Consolidated Balances (Details)                  HTML     99K  
124: R105        JV Related Party Transactions (Details)             HTML     45K  
125: R106        Investments, Equity Method and Joint Ventures       HTML     52K  
                (Details)                                                        
126: R107        Discontinued Operations and Disposal Groups Keds    HTML     50K  
                (Details)                                                        
127: R108        Held for Sale (Details)                             HTML     83K  
128: R109        Discontinued Operations and Disposal Groups         HTML     74K  
                (Details)                                                        
129: R110        Subsequent Events (Details)                         HTML     43K  
130: R111        Schedule II - Valuation and Qualifying Accounts     HTML     59K  
                (Detail)                                                         
132: XML         IDEA XML File -- Filing Summary                      XML    242K  
135: XML         XBRL Instance -- www-20231230_htm                    XML   2.83M  
131: EXCEL       IDEA Workbook of Financial Report Info              XLSX    240K  
16: EX-101.CAL  XBRL Calculations -- www-20231230_cal                XML    296K 
17: EX-101.DEF  XBRL Definitions -- www-20231230_def                 XML   1.19M 
18: EX-101.LAB  XBRL Labels -- www-20231230_lab                      XML   3.15M 
19: EX-101.PRE  XBRL Presentations -- www-20231230_pre               XML   1.96M 
15: EX-101.SCH  XBRL Schema -- www-20231230                          XSD    292K 
133: JSON        XBRL Instance as JSON Data -- MetaLinks              855±  1.31M  
134: ZIP         XBRL Zipped Folder -- 0000110471-24-000057-xbrl      Zip    964K  


‘EX-97’   —   Exhibit-97 Clawback


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 C:   C: 
  Document  

Exhibit 97
Wolverine World Wide, Inc.
Policy for Recovery of Incentive Compensation

It is the policy of Wolverine World Wide, Inc. (the “Company”) that, in the event the Company is required to prepare an accounting restatement of the Company’s financial statements due to material non-compliance with any financial reporting requirement under the federal securities laws(including any such correction that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period) , the Company will recover on a reasonably prompt basis the amount of any Incentive- Based Compensation Received by a Covered Executive during the Recovery Period that exceeds the amount that otherwise would have been Received had it been determined based on the restated financial statements.

Policy Administration and Definitions
This Policy is administered by the Compensation Committee of the Company’s Board of Directors (the “Committee”) and is intended to comply with, and as applicable to be administered and interpreted consistent with, and subject to the exceptions set forth in, Listing Standard 303A.14 adopted by the New York Stock Exchange to implement Rule 10D-1 under the Securities Exchange Act of 1934, as amended (collectively, “Rule 10D-1”).

For purposes of this Policy:

»    “Incentive-Based Compensation” means any compensation granted, earned or vested based in whole or in part on the Company’s attainment of a financial reporting measure that was Received by a person (i) on or after October 2, 2023, and after the person began service as a Covered Executive, and (ii) who served as a Covered Executive at any time during the performance period for the Incentive-Based Compensation. A financial reporting measure is (i) any measure that is determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements and any measure derived wholly or in part from such a measure, and (ii) any measure based in whole or in part on the Company’s stock price or total shareholder return.

Incentive-Based Compensation is deemed to be “Received” in the fiscal period during which the relevant financial reporting measure is attained, regardless of when the compensation is actually paid or awarded.

»    “Covered Executive” means any executive officer of the Company as defined under Rule 10D-1.
WOLVERINE WORLD WIDE, INC. | RECOVERY OF INCENTIVE COMPENSATION |VERSION: JULY 31, 2023



»    “Recovery Period” means the three completed fiscal years immediately preceding the date that the Company is required to prepare the accounting restatement described in this Policy all as determined pursuant to Rule 10D-1, and any transition period of less than nine months that is within or immediately following such three fiscal years.

If the Committee determines the amount of Incentive-Based Compensation Received by a Covered Executive during a Recovery Period exceeds the amount that would have been Received if determined or calculated based on the Company’s restated financial results, such excess amount of Incentive-Based Compensation shall be subject to recoupment by the Company pursuant to this Policy. For Incentive- Based Compensation based on stock price or total shareholder return, where the amount of erroneously awarded compensation is not subject to mathematical recalculation directly from the information in an accounting restatement, the Committee will determine the amount based on a reasonable estimate of the effect of the accounting restatement on the relevant stock price or total shareholder return. In all cases, the calculation of the excess amount of Incentive-Based Compensation to be recovered will be determined without regard to any taxes paid with respect to such compensation. Any determinations made by the Committee under this Policy shall be final and binding on all affected individuals.

The Company may effect any recovery pursuant to this Policy by requiring payment of such amount(s) to the Company, by set-off, by reducing future compensation, or by such other means or combination of means as the Committee determines to be appropriate. The Company need not recover the excess amount of Incentive-Based Compensation if and to the extent that the Committee determines that such recovery is impracticable, subject to and in accordance with any applicable exceptions under the New York Stock Exchange listing rules, and not required under Rule 10D-1, including if the Committee determines that the direct expense paid to a third party to assist in enforcing this Policy would exceed the amount to be recovered after making a reasonable attempt to recover such amounts. The Company is authorized to take appropriate steps to implement this Policy with respect to Incentive-Based Compensation arrangements with Covered Executives.

Any right of recoupment or recovery pursuant to this Policy is in addition to, and not in lieu of, any other remedies or rights of recoupment that may be available to the Company pursuant to the terms of any other policy, any employment agreement or plan or award terms, and any other legal remedies available to the Company; provided that the Company shall not recoup amounts pursuant to such other policy, terms or remedies to the extent it is recovered pursuant to this Policy. The Company shall not indemnify any Covered Executive against the loss of any Incentive-Based Compensation pursuant to this Policy.

Last Amended: July 31, 2023
WOLVERINE WORLD WIDE, INC. | RECOVERY OF INCENTIVE COMPENSATION |VERSION: JULY 31, 2023

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/22/24
For Period end:12/30/23
10/2/23
7/31/234
 List all Filings 


47 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/09/23  Wolverine World Wide Inc./DE      10-Q        9/30/23   91:8.4M
 8/10/23  Wolverine World Wide Inc./DE      10-Q        7/01/23   95:10M
 5/11/23  Wolverine World Wide Inc./DE      10-Q        4/01/23   89:7.4M
 2/23/23  Wolverine World Wide Inc./DE      10-K       12/31/22  135:16M
11/07/22  Wolverine World Wide Inc./DE      8-K:5,9    11/02/22   11:341K
 6/30/22  Wolverine World Wide Inc./DE      8-K:1,9     6/30/22   12:301K
 5/12/22  Wolverine World Wide Inc./DE      10-Q        4/02/22   84:7.4M
 2/24/22  Wolverine World Wide Inc./DE      10-K        1/01/22  125:13M
12/23/21  Wolverine World Wide Inc./DE      8-K:5,9    12/17/21   11:183K                                   Broadridge Fin’l So… Inc
11/10/21  Wolverine World Wide Inc./DE      10-Q       10/02/21   91:9.5M
10/25/21  Wolverine World Wide Inc./DE      8-K:1,2,9  10/21/21   11:1.7M                                   Toppan Merrill/FA
 8/26/21  Wolverine World Wide Inc./DE      8-K:1,2,7,9 8/26/21   12:1.3M                                   Toppan Merrill/FA
 5/13/21  Wolverine World Wide Inc./DE      10-Q        4/03/21   84:6.8M
 3/26/21  Wolverine World Wide Inc./DE      DEF 14A     5/06/21    1:7.5M                                   Broadridge Fin’l So… Inc
 3/26/21  Wolverine World Wide Inc./DE      8-K:5,9     3/25/21   13:202K
 2/26/21  Wolverine World Wide Inc./DE      10-K        1/02/21  130:13M
11/05/20  Wolverine World Wide Inc./DE      10-Q        9/26/20   84:8.5M
 8/13/20  Wolverine World Wide Inc./DE      8-K:5,9     8/07/20   14:411K
 5/06/20  Wolverine World Wide Inc./DE      8-K:1,2,8,9 5/05/20   12:624K                                   Toppan Merrill/FA
 4/29/20  Wolverine World Wide Inc./DE      10-Q        3/28/20   87:7.1M
 4/22/20  Wolverine World Wide Inc./DE      8-K:7,9     4/21/20   14:312K
 2/26/20  Wolverine World Wide Inc./DE      10-K       12/28/19  134:14M
 2/07/20  Wolverine World Wide Inc./DE      8-K:1,9     2/03/20   12:688K                                   Toppan Merrill/FA
 8/07/19  Wolverine World Wide Inc./DE      10-Q        6/29/19   86:8.3M
 5/09/19  Wolverine World Wide Inc./DE      10-Q        3/30/19   82:5.9M
 2/26/19  Wolverine World Wide Inc./DE      10-K       12/29/18  126:13M
12/11/18  Wolverine World Wide Inc./DE      8-K:1,2,9  12/06/18    2:2.1M
 5/09/18  Wolverine World Wide Inc./DE      10-Q        3/31/18   81:6.2M
 2/27/18  Wolverine World Wide Inc./DE      10-K       12/30/17  120:14M
 2/13/18  Wolverine World Wide Inc./DE      8-K:5,9     2/07/18    2:267K                                   Toppan Merrill/FA
 5/10/17  Wolverine World Wide Inc./DE      10-Q        4/01/17   79:7.5M
 3/28/17  Wolverine World Wide Inc./DE      DEF 14A     5/04/17    1:5.3M                                   Toppan Merrill-FA
 9/19/16  Wolverine World Wide Inc./DE      8-K:1,2,7,9 9/15/16    3:237K                                   Toppan Merrill/FA
 3/01/16  Wolverine World Wide Inc./DE      10-K        1/02/16  122:18M
 7/15/15  Wolverine World Wide Inc./DE      8-K:1,2,7,9 7/13/15    3:2.8M                                   Toppan Merrill/FA
 3/03/15  Wolverine World Wide Inc./DE      10-K        1/03/15  130:28M
 4/24/14  Wolverine World Wide Inc./DE      8-K:5,9     4/22/14    2:161K                                   Toppan Merrill/FA
 2/25/14  Wolverine World Wide Inc./DE      10-K       12/28/13  108:24M
10/11/13  Wolverine World Wide Inc./DE      8-K:1,5,9  10/09/13    3:2.7M                                   Toppan Merrill/FA
10/09/12  Wolverine World Wide Inc./DE      8-K:1,2,9  10/08/12    6:1.4M                                   Donnelley … Solutions/FA
10/04/12  Wolverine World Wide Inc./DE      8-K:1,9     9/28/12    2:35K                                    Donnelley … Solutions/FA
 8/01/12  Wolverine World Wide Inc./DE      8-K:1,2,9   7/31/12    2:1M                                     Donnelley … Solutions/FA
 2/29/12  Wolverine World Wide Inc./DE      10-K       12/31/11   12:2.3M                                   Donnelley … Solutions/FA
 3/04/10  Wolverine World Wide Inc./DE      S-8         3/04/10    5:198K                                   Donnelley … Solutions/FA
12/17/08  Wolverine World Wide Inc./DE      8-K:5,9    12/11/08    4:275K                                   Warner Norcross… Judd/FA
 2/26/08  Wolverine World Wide Inc./DE      10-K       12/29/07   13:1.2M                                   Warner Norcross… Judd/FA
 4/25/07  Wolverine World Wide Inc./DE      8-K:1,5,9   4/19/07    6:225K                                   Warner Norcross… Judd/FA
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