Portillo's Inc. Files DEF 14A for Annual Meeting and Executive Compensation Details

Ticker: PTLO · Form: DEF 14A · Filed: Apr 23, 2024 · CIK: 1871509

Portillo'S Inc. DEF 14A Filing Summary
FieldDetail
CompanyPortillo'S Inc. (PTLO)
Form TypeDEF 14A
Filed DateApr 23, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$12 million, $9.1 million, $679.9M, $9.1M, $55.4M
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Executive Compensation, Equity Awards, Portillo's Inc., Annual Meeting

TL;DR

<b>Portillo's Inc. filed its DEF 14A, detailing executive compensation and equity awards for fiscal years 2021-2023.</b>

AI Summary

Portillo's Inc. (PTLO) filed a Proxy Statement (DEF 14A) with the SEC on April 23, 2024. Portillo's Inc. filed a DEF 14A form on April 23, 2024, for its annual meeting. The filing details executive compensation, including equity awards for Named Executive Officers (NEOs) and Non-NEOs. It covers the fiscal years ending December 26, 2021, December 25, 2022, and December 31, 2023. Information on the fair value of equity awards granted, outstanding, and vesting is provided for these periods. The filing also includes changes in the fair value of outstanding equity awards and awards granted in prior years.

Why It Matters

For investors and stakeholders tracking Portillo's Inc., this filing contains several important signals. This filing provides transparency into how Portillo's Inc. compensates its top executives, which can influence investor perception of management alignment and company strategy. Understanding the equity award structures and their valuations is crucial for assessing potential dilution and the long-term incentives offered to key personnel.

Risk Assessment

Risk Level: low — Portillo's Inc. shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and annual meeting information, with no immediate financial or operational red flags.

Analyst Insight

Investors should review the executive compensation details to understand incentive structures and potential equity dilution.

Key Numbers

  • 2024-04-23 — Filing Date (DEF 14A filing date)
  • 2023-12-31 — Fiscal Year End (Most recent fiscal year end covered)
  • 2022-12-26 — Fiscal Year End (Previous fiscal year end covered)
  • 2021-12-27 — Fiscal Year End (Earliest fiscal year end covered)

Key Players & Entities

  • Portillo's Inc. (company) — Filer of the DEF 14A
  • 2024-04-23 (date) — Filing date of the DEF 14A
  • 2023-12-31 (date) — Fiscal year end
  • 2022-12-26 (date) — Fiscal year end
  • 2021-12-27 (date) — Fiscal year end

FAQ

When did Portillo's Inc. file this DEF 14A?

Portillo's Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 23, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Portillo's Inc. (PTLO).

Where can I read the original DEF 14A filing from Portillo's Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Portillo's Inc..

What are the key takeaways from Portillo's Inc.'s DEF 14A?

Portillo's Inc. filed this DEF 14A on April 23, 2024. Key takeaways: Portillo's Inc. filed a DEF 14A form on April 23, 2024, for its annual meeting.. The filing details executive compensation, including equity awards for Named Executive Officers (NEOs) and Non-NEOs.. It covers the fiscal years ending December 26, 2021, December 25, 2022, and December 31, 2023..

Is Portillo's Inc. a risky investment based on this filing?

Based on this DEF 14A, Portillo's Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and annual meeting information, with no immediate financial or operational red flags.

What should investors do after reading Portillo's Inc.'s DEF 14A?

Investors should review the executive compensation details to understand incentive structures and potential equity dilution. The overall sentiment from this filing is neutral.

How does Portillo's Inc. compare to its industry peers?

Portillo's Inc. operates in the restaurant industry, specifically focusing on fast-casual dining with a unique Chicago-themed concept.

Are there regulatory concerns for Portillo's Inc.?

The DEF 14A filing is a standard disclosure required by the SEC for public companies, particularly those holding annual meetings, to inform shareholders about corporate governance and executive pay.

Industry Context

Portillo's Inc. operates in the restaurant industry, specifically focusing on fast-casual dining with a unique Chicago-themed concept.

Regulatory Implications

The DEF 14A filing is a standard disclosure required by the SEC for public companies, particularly those holding annual meetings, to inform shareholders about corporate governance and executive pay.

What Investors Should Do

  1. Review the proxy statement for details on executive compensation packages and any proposed shareholder actions.
  2. Analyze the equity award information to understand potential future share dilution and management incentives.
  3. Note the dates for the upcoming annual meeting to participate in shareholder voting.

Key Dates

  • 2024-04-23: Filing of DEF 14A — Provides details on executive compensation and annual meeting matters.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure for annual meetings and executive compensation, rather than a report on financial performance like an 8-K or 10-K.

Filing Stats: 4,549 words · 18 min read · ~15 pages · Grade level 14.4 · Accepted 2024-04-23 17:14:11

Key Financial Figures

  • $12 million — restaurant in The Colony recorded over $12 million in sales in its first full year open.
  • $9.1 million — es across the Portillo's system average $9.1 million per restaurant. Our restaurants serve a
  • $679.9M — 3 Founded 8,000+ Total Team Members $679.9M 2023 Revenue (2) $9.1M 2023 Average
  • $9.1M — eam Members $679.9M 2023 Revenue (2) $9.1M 2023 Average Unit Volume (3)(5) 12 N
  • $55.4M — New Restaurants Added in Fiscal 2023 $55.4M 2023 Operating Income (2) 8.2% 2023
  • $24.8M — 8.2% 2023 Operating Income Margin (2) $24.8M 2023 Net Income (2) 3.7% 2023 Net In
  • $165.2M — Production Line for Kitchen 23 Model $165.2M 2023 Restaurant Level Adjusted EBITDA
  • $102.3M — t-Level Adjusted EBITDA Margin (2)(4) $102.3M 2023 Adjusted EBITDA (2)(4) 15.0% 20

Filing Documents

Executive Compensation Tables

Executive Compensation Tables 57 Summary Compensation Table 57 Grants of Plan-Based Awards 57 Outstanding Equity Awards at Fiscal Year-End 58 Options Exercised and Stock Vested 58 Non-Qualified Deferred Compensation 59 Potential Payments Upon Termination 59 CEO Pay Ratio 61 Pay V ersus Performance 62 Proposal 3 - Advisory Vote on t he Frequency of Future Advisory Votes on Executive Compensation 66 Proposal 4 - Ratification of the Independent Registered Public Accounting Firm 67 Oversight of Independent Registered Public Accounting Firm 67 Fees Paid to Independent Registered Public Accounting Firm 68 Policy on Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm 68 Audit Committee Report 69 Other Matters 70 Securities Ownership of Certain Beneficial Owners and Management 70 Delinquent Section 16(a) Reports 71 Equity Compensation Plans Table 71 Certain Relationships and Related Party Transactions 72 Related Party Transaction Policy 72 Related Party Transactions 72 Shareholders' Proposals 76 About the Meeting 77 202 3 Annual Report and SEC Filings 80 Appendix A: Reconciliation of Non-GAAP Measures 81 Frequently Accessed Information A uditor Fees 68 B eneficial Ownership Table 70 C EO Pay Ratio 61 Committee Structure 26 Compensation Discussion & Analysis 42 Compensation Philosophy 46 Director Biographies 19 D irector Compensation 40 Director S kills Matrix 16 Key Areas of Board Oversight 30 Pay Versus Performance 62 Share Ow nership Guidelines 53 Summary Comp ensation Table 57 2024 Proxy Statement 3 Table of Contents Cautionary Note Regarding Forward-Looking Statements This Proxy Statement contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"), which are subject to known and unknown risks, uncertainties and other important factor

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