8-K

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): August 30, 2022

UNIFI, INC.

(Exact name of registrant as specified in its charter)

New York	1-10542	11-2165495
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
7201 West Friendly Avenue Greensboro, North Carolina		27410
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (336) 294-4410

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:

☐ 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, par value $0.10 per share	UFI	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b‑2 of this chapter).  

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.

(d) On August 30, 2022, the Board of Directors (the “Board”) of Unifi, Inc. (the “Company”) elected Francis S. Blake, Non-Executive Chairman of the Board of Directors of Delta Air Lines, Inc. and former Chairman and Chief Executive Officer of The Home Depot, Inc., to the Board, effective September 5, 2022, with a term expiring at the Company’s 2022 Annual Meeting of Shareholders. Concurrent with his election as a director, Mr. Blake was appointed to the Compensation Committee of the Board.  There are no arrangements or understandings between Mr. Blake and any other persons pursuant to which he was selected as a director.  Additionally, there are no transactions involving the Company and Mr. Blake that the Company would be required to report pursuant to Item 404(a) of Regulation S-K.

Mr. Blake will receive compensation for his Board and committee service in accordance with the Company’s Director Compensation Policy for independent directors, a copy of which was filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended December 29, 2019.  Specifically, in connection with his election as a director, Mr. Blake will receive a prorated annual retainer of $15,890, all of which will be paid in the form of vested stock units. 

A copy of the press release announcing Mr. Blake’s election is filed as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Press Release of Unifi, Inc., dated September 1, 2022.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

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.

	UNIFI, INC.
Date:  September 1, 2022	By:	/s/ GREGORY K. SIGMON
		Gregory K. Sigmon
		General Counsel
		Corporate Secretary

EX-99.1

Exhibit 99.1

UNIFI, Makers of REPREVE®, Elects Frank Blake to the Board of Directors

Contributes decades of strategic, commercial and executive experience to the Board

Greensboro, N.C. Sep. 1, 2022 --Unifi, Inc. (NYSE: UFI), makers of REPREVE and one of the world's leading innovators in recycled and synthetic yarns, today announced the election of Frank Blake to the Company’s Board of Directors, effective September 5, 2022.

Al Carey, Executive Chairman of UNIFI, stated, “We are excited to welcome Frank to UNIFI’s Board of Directors.  He brings decades of leadership experience driving commercial excellence with industry-leading companies.  We are confident that his contributions and expertise will amplify UNIFI’s growth trajectory.”

Mr. Blake added, “I am grateful to join the Board of Directors of UNIFI and excited to become more involved with a company at the forefront of sustainable practices.  With sustainability leading so many commercial decisions in today’s world, I believe UNIFI is well-positioned to continue to be a market leader in the space for years to come.  I look forward to working with everyone at UNIFI and further building upon their long history of successes and market leadership.”

Mr. Blake currently serves as the non-executive Chairman of Delta Air Lines, Inc.’s board of directors. He served as the Chairman and CEO of The Home Depot from 2007 until November 2014 and thereafter as Chairman of the board of directors until his retirement in February 2015. He previously served as Vice Chairman of the board of directors of The Home Depot and as Executive Vice President. Mr. Blake joined The Home Depot in 2002 as Executive Vice President — Business Development and Corporate Operations. He was previously the Deputy Secretary for the U.S. Department of Energy and served in a variety of executive positions at General Electric Company, including as Senior Vice President, Corporate Business Development in charge of all worldwide mergers, acquisitions and dispositions. Additionally, Mr. Blake is a member of the board of directors of Macy’s, Inc. and was previously a member of the board of directors of The Procter & Gamble Company.

Mr. Blake holds a bachelor’s degree from Harvard University and received his juris doctor degree from Columbia Law School.

About UNIFI:

Unifi, Inc. (NYSE: UFI) is a global textile solutions provider and one of the world's leading innovators in manufacturing synthetic and recycled performance fibers. Through REPREVE®, one of UNIFI’s proprietary technologies and the global leader in branded recycled performance fibers, UNIFI has transformed more than 30 billion plastic bottles into recycled fiber for new apparel, footwear, home goods and other consumer products.  UNIFI continually innovates technologies to meet consumer needs in moisture management, thermal regulation, antimicrobial protection, UV protection, stretch, water resistance and enhanced softness. UNIFI collaborates with many of the world's most influential brands in the sports apparel, fashion, home, automotive and other industries. For more information about UNIFI, visit www.unifi.com.

For more information, contact:

Davis Snyder

Alpha IR Group

312-445-2870

UFI@alpha-ir.com

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Document and Entity Information	Aug. 30, 2022
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 30, 2022
Entity Registrant Name	UNIFI, INC.
Entity Central Index Key	0000100726
Entity Emerging Growth Company	false
Entity File Number	1-10542
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	11-2165495
Entity Address, Address Line One	7201 West Friendly Avenue
Entity Address, City or Town	Greensboro
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27410
City Area Code	336
Local Phone Number	294-4410
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	UFI
Security Exchange Name	NYSE