Portillo's Inc. Names New Director, Adjusts CFO Compensation
Ticker: PTLO · Form: 8-K · Filed: Jun 16, 2025 · CIK: 1871509
| Field | Detail |
|---|---|
| Company | Portillo'S Inc. (PTLO) |
| Form Type | 8-K |
| Filed Date | Jun 16, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, board-changes, employment-agreement
TL;DR
Portillo's shakes up board, gives CFO a new contract with $450k base + bonus.
AI Summary
Portillo's Inc. announced on June 16, 2025, changes in its board of directors and executive compensation. Specifically, Michael J. R. Johnson has been appointed as a Class III Director, and the company has entered into a new employment agreement with its Chief Financial Officer, Michael D. D'Angelo, effective June 14, 2025. This agreement includes a base salary of $450,000 and potential bonuses.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in executive leadership and compensation can introduce uncertainty regarding future strategy and financial performance.
Key Numbers
- $450,000 — CFO Base Salary (New employment agreement for Michael D. D'Angelo)
Key Players & Entities
- Portillo's Inc. (company) — Registrant
- Michael J. R. Johnson (person) — Newly appointed Class III Director
- Michael D. D'Angelo (person) — Chief Financial Officer
- $450,000 (dollar_amount) — CFO's new base salary
FAQ
Who has been appointed as a new director at Portillo's Inc.?
Michael J. R. Johnson has been appointed as a Class III Director.
What is the effective date of Michael D. D'Angelo's new employment agreement?
The new employment agreement for Michael D. D'Angelo is effective June 14, 2025.
What is the base salary for Portillo's CFO under the new agreement?
The new employment agreement stipulates a base salary of $450,000 for the CFO, Michael D. D'Angelo.
What is the primary reason for this 8-K filing?
The filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
What is the fiscal year end for Portillo's Inc.?
Portillo's Inc.'s fiscal year ends on December 28.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on June 16, 2025 by Michael J. R. Johnson regarding Portillo's Inc. (PTLO).