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DIXIE GROUP INC FILES (8-K) Disclosing Change in Directors or Principal Officers
[October 24, 2014]

DIXIE GROUP INC FILES (8-K) Disclosing Change in Directors or Principal Officers


(Edgar Glimpses Via Acquire Media NewsEdge) ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 24, 2014, the Board of Directors (the "Board") of The Dixie Group, Inc. (the "Company") appointed William F. Blue, Jr. to the Board.

The Board is increasing its size from nine to ten members and has appointed William F. (Bill) Blue to fill the vacancy. Mr. Blue, age 55, is currently Vice-Chairman of Investment Banking and Capital Markets of Wells Fargo Securities, LLC based in Charlotte, N.C., a position from which he will resign effective November 14, 2014, to head the Hopeway Foundation of Charlotte, N.C.



Mr. Blue will stand for re-election at the 2015 annual meeting of stockholders.

Mr. Blue will participate in the Company's standard outside director compensation program. Pursuant to this program, each member of the Board, who is not an employee of the Company, receives an annual retainer of $24,000.00, payable $12,000 in cash and the remainder in Performance Units under the Directors Stock Plan. In addition to the annual retainer, directors who are not employees of the Company receive $1,500 for each Board meeting attended and $1,000 for each committee meeting attended ($1,500 for the Committee Chairman).


Fees for attending telephonic meetings are one-half those for in-person meetings, such that each non-employee director receives $750 per telephonic board meeting and $500 per committee meeting ($750 for Chairman of the Committee). Additionally, directors receive reimbursement of the expenses they incur in attending all board and committee meetings.

The Board has determined that Mr. Blue satisfies the definition of "independent director" under relevant NASDAQ listing standards.

On October 24, 2014, the Company issued a press release announcing the appointment of Mr. Blue to the Board. A copy of the press release is filed with this Form 8-K as Exhibit 99.1.

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