A fastener assembly for securely fastening a decorative panel in spaced relation to a support backing includes a base member adapted to be operatively mounted to the decorative panel, a carrier member, and a linking member operatively extending between the base member and the carrier member such that the base member is disposed spaced from the carrier member. A fastening medium is supported by the carrier member and adapted to operatively interconnect the carrier member to the support backing. The linking member operatively interconnects the base member and the carrier member in articulating fashion such that the base member is transversely moveable relative to the carrier member.