Form 8-K
8-K — HOOKER FURNISHINGS Corp
Accession: 0001185185-26-001416
Filed: 2026-04-17
Period: 2026-04-13
CIK: 0001077688
SIC: 2510 (HOUSEHOLD FURNITURE)
Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item: Financial Statements and Exhibits
Documents
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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 13, 2026
HOOKER
FURNISHINGS CORPORATION
(Exact name of registrant as specified in its charter)
Virginia
000-25349
54-0251350
(State
or other jurisdiction of
incorporation or organization)
(Commission
File No.)
(I.R.S.
Employer
Identification No.)
440 East Commonwealth
Boulevard,
Martinsville, Virginia
24112
(276) 632-2133
(Address
of principal executive offices)
(Zip
Code)
(Registrant’s
telephone number, including area code)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, no par value
HOFT
NASDAQ Global Select Market
Indicate by check mark whether the registrant is
an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth
company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 13, 2026, the Compensation Committee
(the “Committee”) of the Board of Directors of Hooker Furnishings Corporation (the “Company”) approved annual
base salaries, annual cash incentives and long-term incentives for the Company’s executive officers.
Annual Base Salary
The base salary for each
executive officer for 2026 will be:
Base Salary
Jeremy R. Hoff, CEO and Director
$ 680,000
C. Earl Armstrong III, CFO and Senior VP – Finance and Accounting
375,000
Annual Cash Incentives
The annual cash incentive
for each executive officer for the Company’s 2027 fiscal year, which ends January 31, 2027, will be paid if the Company attains
certain revenue (30% weight) and operating income (70% weight) targets for fiscal 2027, as approved by the Board of Directors. No cash
bonus is payable if the Company fails to reach the threshold performance goal range and the cash bonus is capped at 2x target payment
if the Company reaches or exceeds the maximum performance goal range. There will be full interpolation for performance between the three
discrete performance levels.
The annual cash incentive
potential for each of the executive officers is as follows:
If the Company Attains:
Threshold
Target
Maximum
Jeremy R. Hoff
$ 204,000
$ 680,000
$ 1,360,000
C. Earl Armstrong III
67,500
225,000
450,000
Time-Based Restricted
Stock Units (RSUs). Each time-based RSU grant vests ratably by entitling the executive officer to receive one third of the grant if
he remains continuously employed with the Company through the end of each service period that ends April 13, 2027, April 13, 2028, and
April 13, 2029, respectively. At the discretion of the Committee, the RSUs may be paid in shares of the Company’s common stock,
cash (based on the fair market value of a share of the Company’s common stock on the date payment is made), or both. In addition
to the service-based vesting requirement, 100% of an executive officer’s RSUs will vest upon a change of control of the Company
and a prorated number of the RSUs will vest upon the death, disability or retirement of the executive officer. Dividends declared on unvested
RSUs awards accumulate in cash and are paid out only upon vesting of the underlying shares.
The number of RSUs awarded
to each executive officer is set forth in the table below.
Executive Officer
Number of RSUs
Jeremy R. Hoff
35,656
C. Earl Armstrong III
10,149
Performance-based
Restricted Stock Units (“PSUs”) Each performance-based RSU entitles the executive officer to receive
one share of the Company’s common stock based on the achievement of specified performance conditions (described below) if the executive
officer remains continuously employed by the Company through the end of the three-year performance period. The PSUs shall vest subject
to the Company’s attainment of pre-established performance goals of: (1) the Company’s absolute EPS compound annual growth
rate (“EPS CAGR”) and (2) relative Total Shareholder Return as measured against the Company’s compensation peer group,
both over a three-year performance period that began February 2, 2026 and ends January 28, 2029, as approved by the Committee. “Total
Shareholder Return” shall be measured by the average price for the twenty trading days prior to the start of the performance period
versus the average price for the last twenty trading days of the performance period. The payout or settlement of the PSUs shall be made
in shares of the Company’s common stock (based on the fair market value of the shares of the Company’s common stock on the
date of settlement or payment). Dividends declared on unvested PSU awards accumulate in cash and are paid out only upon vesting of the
underlying shares.
The settlement or payment
for each executive officer under his PSU will be the sum of the following share amounts:
a. An amount set forth in the table below based on the compound annual growth of the Company’s fully
diluted earnings per share from continuing operations (“EPS”) over the performance period. The Company’s EPS CAGR must
be at least 5% over the performance period for a payment to be made. There will be full interpolation for performance between the three
discrete performance levels.
Executive Officer
Threshold (5%)
Target (10%)
Maximum (25%)
Jeremy R. Hoff
5,348
17,828
35,656
C. Earl Armstrong III
1,522
5,075
10,149
b. An amount set forth in the table below based on the Company’s growth of Total Shareholder Return over the performance period
relative to a group of specified peer companies. Payout capped at target if the Company’s Total Shareholder Return for the performance
period is negative. There will be full interpolation for performance between the three discrete performance levels.
Executive Officer
Threshold (25%)
Target (50%)
Maximum (75%)
Jeremy R. Hoff
5,348
17,828
35,656
C. Earl Armstrong III
1,522
5,075
10,149
Item 9.01. Financial Statements
and Exhibits.
104 Cover Page Interactive Data
File (embedded within the Inline XBRL document).
1
Signature
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
HOOKER FURNISHINGS CORPORATION
By:
/s/ C. Earl Armstrong III
C. Earl Armstrong III
Chief Financial Officer and
Senior Vice-President – Finance and Accounting
Date: April 17, 2026
2
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Entity Registrant Name
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FURNISHINGS CORPORATION
Entity Central Index Key
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Entity Tax Identification Number
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Entity Incorporation, State or Country Code
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Entity Address, Address Line One
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