Good Times Restaurants Approves $1M Stock Buyback
Ticker: GTIM · Form: 8-K · Filed: Mar 4, 2024 · CIK: 825324
| Field | Detail |
|---|---|
| Company | Good Times Restaurants INC. (GTIM) |
| Form Type | 8-K |
| Filed Date | Mar 4, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: stock-repurchase, shareholder-value, corporate-action
Related Tickers: GTNS
TL;DR
GTNS just authorized a $1M stock buyback, signaling confidence.
AI Summary
Good Times Restaurants Inc. announced on March 4, 2024, that its Board of Directors has approved a new stock repurchase program. The company is authorized to repurchase up to $1.0 million of its common stock through March 4, 2025.
Why It Matters
This stock repurchase program signals management's confidence in the company's valuation and can potentially increase shareholder value by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a stock repurchase program, which is a common corporate action.
Key Numbers
- $1.0M — Stock Repurchase Authorization (The company is authorized to buy back up to this amount of its common stock.)
- March 4, 2025 — Repurchase Program Expiration (The stock repurchase program is authorized through this date.)
Key Players & Entities
- Good Times Restaurants Inc. (company) — Registrant
- March 4, 2024 (date) — Date of Report
- $1.0 million (dollar_amount) — Stock repurchase authorization
- March 4, 2025 (date) — Expiration of repurchase program
FAQ
What is the total amount authorized for the stock repurchase program?
The company has authorized the repurchase of up to $1.0 million of its common stock.
What is the duration of the new stock repurchase program?
The program is authorized to continue through March 4, 2025.
What is the company's ticker symbol?
The ticker symbol for Good Times Restaurants Inc. is GTNS.
In which state is Good Times Restaurants Inc. incorporated?
Good Times Restaurants Inc. is incorporated in Nevada.
What is the primary business of Good Times Restaurants Inc.?
Good Times Restaurants Inc. operates in the RETAIL-EATING PLACES sector, specifically as a restaurant company.
Filing Stats: 747 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-03-04 07:30:14
Key Financial Figures
- $0.001 — on which registered Common Stock , $0.001 par value GTIM Nasdaq Stock Exchange
Filing Documents
- gtim20240228_8k.htm (8-K) — 49KB
- gtim20240228_8kimg002.jpg (GRAPHIC) — 2KB
- gtim.jpg (GRAPHIC) — 4KB
- 0001437749-24-006359.txt ( ) — 193KB
- gtim-20240304.xsd (EX-101.SCH) — 3KB
- gtim-20240304_def.xml (EX-101.DEF) — 11KB
- gtim-20240304_lab.xml (EX-101.LAB) — 15KB
- gtim-20240304_pre.xml (EX-101.PRE) — 11KB
- gtim20240228_8k_htm.xml (XML) — 3KB
07
Item 5.07 Submission of Matters to a Vote of Security Holders On February 27, 2024, Good Times Restaurants Inc. (the "Company") held its 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"). The Company's shareholders voted on three proposals: (1) to elect four directors of the Company to serve for the next year; (2) to submit an advisory vote on the compensation of the Company's named executive officers; and (3) to ratify the appointment of Moss Adams LLP as the Company's independent registered public accounting firm for the fiscal year ending September 25, 2024. These matters are more fully described in the Company's Proxy Statement for the 2024 Annual Meeting which was filed with the Securities and Exchange Commission on January 12, 2024. The shareholders elected all four director nominees and approved the advisory vote on the compensation of the Company's named executive officers and the ratification of Moss Adams LLP as the Company's independent registered public accounting firm for the fiscal year ending September 25, 2024. Proposal 1: Election of Directors The Company's shareholders elected the following four nominees to the Board. Each of the nominees will serve for a one-year term and hold office until the next annual meeting of shareholders unless he or she sooner ceases to hold office. The following table sets forth the vote of the shareholders at the Annual Meeting with respect to the election of directors: For Withheld Broker Non-Votes Charles E. Jobson 4,727,795 288,195 3,911,110 Jason S. Maceda 4,516,923 499,067 3,911,110 Jennifer C. Stetson 4,741,012 274,978 3,911,110 Ryan M. Zink 4,473,773 542,217 3,911,110 Proposal 2: To submit an advisory vote on the compensation of the Company ' s named executive officers For Against Abstain Broker Non-Votes 4,834,146 160,257 21,587 3,911,110 Proposal 3: To ratify the appointment of Moss Adams, LLP as the Company ' s independent registe
01
Item 8.01 Other Events The Company's Board of Directors elected the Chairman of the Board and Board of Director Committee Members set forth below. Biography information is more fully described the Company's Proxy Statement for the 2024 Annual Meeting. Charles E. Jobson will serve as Chairman of the Board. Audit Committee Compensation Committee Jason S. Maceda, Committee Chairman Jennifer C. Stetson, Committee Chairman Charles E. Jobson Charles E. Jobson Jennifer C. Stetson 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: March 4, 2024 Ryan M. Zink President and Chief Executive Officer 3