Good Times Restaurants Reports Leadership Changes, Officer Compensation
Ticker: GTIM · Form: 8-K · Filed: Jan 2, 2024 · CIK: 825324
| Field | Detail |
|---|---|
| Company | Good Times Restaurants INC. (GTIM) |
| Form Type | 8-K |
| Filed Date | Jan 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: leadership-change, executive-compensation, corporate-governance
TL;DR
**Good Times Restaurants just shook up its leadership and compensation structure.**
AI Summary
Good Times Restaurants Inc. filed an 8-K on January 2, 2024, to report the departure of certain officers or directors, the election of new directors, and the appointment of certain officers, along with details on compensatory arrangements for these officers. This matters to investors because changes in leadership and executive compensation can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.
Why It Matters
Changes in executive leadership and compensation can significantly influence a company's strategic direction and operational efficiency, directly affecting investor confidence and stock valuation.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty, but also potential for positive strategic shifts, making the risk level moderate.
Analyst Insight
Investors should monitor subsequent filings or company announcements for specific details on the new leadership and compensation structures to assess potential impacts on company strategy and performance.
Key Players & Entities
- Good Times Restaurants Inc. (company) — the registrant filing the 8-K
- Nevada (location) — state of incorporation
- Golden, CO (location) — principal executive offices
- January 2, 2024 (date) — date of earliest event reported and filing date
FAQ
What was the specific date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 2, 2024, which is also the date of the report.
What items were reported under 'ITEM INFORMATION' in this 8-K filing?
The 'ITEM INFORMATION' section of this 8-K filing includes 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'.
What is the business address and phone number of Good Times Restaurants Inc. as stated in the filing?
The business address for Good Times Restaurants Inc. is 651 Corporate Circle, Suite 200, Golden, CO 80401, and their business phone number is (303) 384-1440.
What is the Commission File Number for Good Times Restaurants Inc.?
The Commission File Number for Good Times Restaurants Inc. is 000-18590.
Under which SEC Act was this Form 8-K filed?
This Form 8-K was filed under the 1934 Act, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 725 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-01-02 07:30:12
Key Financial Figures
- $0.001 — on which registered Common Stock , $0.001 par value   GTIM   Nas
Filing Documents
- gtim20231229_8k.htm (8-K) — 30KB
- ex_611025.htm (EX-99.1) — 10KB
- gtim01.jpg (GRAPHIC) — 4KB
- rmz01.jpg (GRAPHIC) — 3KB
- 0001437749-24-000104.txt ( ) — 190KB
- gtim-20240102.xsd (EX-101.SCH) — 3KB
- gtim-20240102_def.xml (EX-101.DEF) — 11KB
- gtim-20240102_lab.xml (EX-101.LAB) — 15KB
- gtim-20240102_pre.xml (EX-101.PRE) — 11KB
- gtim20231229_8k_htm.xml (XML) — 3KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   On January 2, 2024, the Company announced it has appointed Ms. Keri August as the Company's Senior Vice President of Finance and Accounting. In such role, Ms. August will oversee all finance and accounting responsibilities for the Company.   Ms. August, age 48, has over twenty-seven years of finance and accounting experience.  From August 2023 through the date of her appointment, Ms. August was a consultant for the Company assisting with finance and accounting functions. From April 2022 to July 2023, she was a Vice President FAO (Finance and Accounting Outsourcing) at InfoSync Services, a professional services organization providing restaurant- and hospitality-industry finance and accounting outsourcing services; and from September 2011 to April 2022 held progressive accounting leadership roles at InfoSync Services.  Prior to her service with Infosync Services, Ms. August served in a variety of individual and supervisory finance and accounting roles within the hospitality and manufacturing industries, and began her career as an auditor with EY after graduating from Missouri Southern State College.   In connection with Ms. August's appointment, the Company's Board of Directors approved a grant of 10,000 restricted stock units, which will cliff vest on the third anniversary of the date of grant, subject to Ms. August's continuous employment with the Company. The grant is subject to the terms of the Company's 2018 Omnibus Equity Incentive Plan.   There are no family relationships between Ms. August and any of the officers or directors of the Company.   There are no related party transactions with Ms. August that are reportable under Item 5.02 of Form 8-K and Item 404(a) of Regulation S-K.  
Financial Statements and Exhibits
Financial Statements and Exhibits.     (d) Exhibits.   Number Description     99.1* Press Release dated January 2, 2024     Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)     *Filed herewith   2    
SIGNATURES
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.     GOOD TIMES RESTAURANTS INC. Date: January 2, 2024 By: Ryan M. Zink President and Chief Executive Officer     3