ARK RESTAURANTS CORP. Announces Annual Meeting of Shareholders on March 12, 2024

TL;DR

<b>Ark Restaurants Corp. will hold its Annual Meeting of Shareholders on March 12, 2024, to elect directors, ratify auditors, and vote on executive compensation.</b>

AI Summary

ARK RESTAURANTS CORP (ARKR) filed a Proxy Statement (DEF 14A) with the SEC on February 2, 2024. The Annual Meeting of Shareholders for Ark Restaurants Corp. will be held on March 12, 2024. Shareholders will vote on the election of eight directors. The appointment of CohnReznick LLP as the independent registered public accounting firm for the 2024 fiscal year will be ratified. A non-binding advisory resolution to approve the compensation of named executive officers will be presented. The meeting will take place at Bryant Park Grill, 25 West 40th Street, New York, New York.

Why It Matters

For investors and stakeholders tracking ARK RESTAURANTS CORP, this filing contains several important signals. Shareholders have the opportunity to influence the company's governance by electing the board of directors. The ratification of the independent auditor and the advisory vote on executive compensation allow shareholders to provide feedback on financial oversight and management remuneration.

Risk Assessment

Risk Level: — ARK RESTAURANTS CORP shows moderate risk based on this filing. The filing is a routine proxy statement for an annual shareholder meeting and does not contain new financial performance data or significant strategic changes, indicating low immediate risk.

Analyst Insight

Shareholders should review the director nominees and executive compensation details to make informed voting decisions at the upcoming annual meeting.

Key Numbers

• 8 — Directors (Number of directors to be elected at the Annual Meeting)
• 2025 — Annual Meeting (Term for which directors are elected)
• 10:00 A.M. — Meeting Time (Time of the Annual Meeting of Shareholders)

Key Players & Entities

• ARK RESTAURANTS CORP. (company) — Filer and subject of the proxy statement
• March 12, 2024 (date) — Date of the Annual Meeting of Shareholders
• CohnReznick LLP (company) — Proposed independent registered public accounting firm
• New York, New York (location) — Location of the company's business and mail address
• 2024 (date) — Fiscal year for which CohnReznick LLP is proposed as auditor

FAQ

Industry Context

Ark Restaurants Corp. operates in the restaurant industry, and this filing pertains to corporate governance matters typically addressed at annual shareholder meetings.

Regulatory Implications

This filing is made under Schedule 14A of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

What Investors Should Do

1. Review the biographies and qualifications of the eight director nominees.
2. Examine the details of the proposed executive compensation for named executive officers.
3. Understand the role and responsibilities of CohnReznick LLP as the proposed independent auditor.

Key Dates

• 2024-03-12: Annual Meeting of Shareholders — Shareholders will vote on director elections, auditor ratification, and executive compensation.

Year-Over-Year Comparison

This is a DEF 14A filing for the 2024 Annual Meeting of Shareholders, indicating a routine corporate governance event.

Filing Documents

• proxy-march122024.htm (DEF 14A) — 349KB
• a2019proxyimage1.jpg (GRAPHIC) — 6KB
• arkrestaurantscorpproxy-pa.jpg (GRAPHIC) — 477KB
• arkrestaurantscorpproxy-paa.jpg (GRAPHIC) — 258KB
• compensationactuallypaidvs.jpg (GRAPHIC) — 60KB
• compensationactuallypaidvsa.jpg (GRAPHIC) — 58KB
• 0000779544-24-000008.txt (&nbsp;) — 1531KB

Gender Identity

Part I Gender Identity Directors 2 6 — —

Demographic Background

Part II Demographic Background African American or Black — — — — Alaskan Native or Native American — — — — Asian — — — — Hispanic or Latinx — — — — Native Hawaiian or Pacific Islander — — — — White 2 5 — — Two or more Races or Ethnicities — — — — LGBTQ+ 1 Did not disclose demographic background 1 Board Leadership Structure Our Board does not have a policy as to whether the roles of Chairman of the Board and Chief Executive Officer should be separate or combined. Currently, the office of Chairman of the Board and Chief Executive Officer are held by Michael Weinstein. The Company does not have a lead independent director. Our Board has determined that its current structure, with combined Chairman and CEO roles, is in the best interests of the Company and its shareholders at this time. A number of factors support the leadership structure chosen by the Board, including, among others Mr. Weinstein has extensive knowledge of all aspects of the Company and its business and risks, its industry and its customers Mr. Weinstein is intimately involved in the day-to-day operations of the Company and is best positioned to elevate the most critical business issues for consideration by the Board of Directors The Board believes having Mr. Weinstein serve in both capacities allows him to more effectively execute the Company's strategic initiatives and business plans and confront its challenges A combined Chairman and CEO structure provides the Company with decisive and effective leadership with clearer accountability to our shareholders and customers and In our view, splitting the roles would potentially make our management and governance processes less effective through undesirable duplication of work and possibly lead to a blurring of clear lines of accountability and responsibility. Board's Role in Risk Oversight Our Board believes that open communication between management and the Board is essential for effective risk management and oversight. The Board mee

View Full Filing

View this DEF 14A filing on SEC EDGAR