Sweetgreen 8-K: Officer Comp Arrangements & Reg FD Disclosure

TL;DR

**Sweetgreen filed an 8-K about officer compensation changes and Regulation FD disclosure, signaling potential executive shifts.**

AI Summary

Sweetgreen, Inc. filed an 8-K on February 2, 2024, reporting an event that occurred on January 31, 2024. This filing, under Item 5.02, pertains to changes in compensatory arrangements for certain officers, and also includes Regulation FD Disclosure. While specific names and dollar amounts are not detailed in this summary filing, it signals potential shifts in executive compensation or leadership, which could impact the company's financial health and strategic direction. Investors should monitor subsequent filings for details on these compensatory arrangements, as they can influence executive motivation and the company's overall cost structure.

Why It Matters

Changes in executive compensation can signal shifts in company strategy or financial performance, directly impacting investor confidence and the company's operational costs.

Risk Assessment

Risk Level: medium — Without specific details on the compensatory arrangements, there's uncertainty regarding their financial impact and implications for executive retention or performance.

Analyst Insight

Investors should monitor Sweetgreen's upcoming disclosures for specific details on the compensatory arrangements and any potential executive changes, as these could impact future financial performance and strategic direction.

Key Players & Entities

• Sweetgreen, Inc. (company) — the registrant filing the 8-K
• January 31, 2024 (date) — date of the earliest event reported
• February 2, 2024 (date) — date the 8-K was filed
• 001-41069 (other) — Commission File Number for Sweetgreen, Inc.
• Delaware (other) — State of Incorporation for Sweetgreen, Inc.

Forward-Looking Statements

• Sweetgreen will provide more detailed information regarding the compensatory arrangements for officers in a subsequent filing or earnings call. (Sweetgreen, Inc.) — high confidence, target: Q1 2024 earnings report
• The changes in compensatory arrangements could be a precursor to a significant executive leadership change. (Sweetgreen, Inc.) — medium confidence, target: Within 6 months

FAQ

Key Financial Figures

• $0.001 — which registered Class A Common Stock, $0.001 par value per share SG New York Stock E
• $500,000 — s will receive an annual base salary of $500,000, and will be eligible for an annual dis
• $175,000 — lliams is also entitled to a stipend of $175,000 to assist with her relocation. The agre

Filing Documents

• sg-20240131.htm (8-K) — 32KB
• pressrelease_rossannwillia.htm (EX-99.1) — 15KB
• image_0a.jpg (GRAPHIC) — 81KB
• 0001628280-24-003091.txt ( ) — 287KB
• sg-20240131.xsd (EX-101.SCH) — 2KB
• sg-20240131_lab.xml (EX-101.LAB) — 23KB
• sg-20240131_pre.xml (EX-101.PRE) — 12KB
• sg-20240131_htm.xml (XML) — 3KB

02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 31, 2024, Sweetgreen, Inc. (the " Company ") appointed Rossann Williams as the Company's Chief Operating Officer, effective February 5, 2024. In this role, Ms. Williams will have oversight for Field Operations, Operations Services and Innovation, Real Estate and Store Development, and Supply Chain. Ms. Williams brings extensive experience in the restaurant industry and a deep expertise in operational strategy and execution. She has a proven track record in driving hypergrowth of global, iconic brands and leading teams to generate profitability. Ms. Williams, age 62, previously served in a variety of executive roles at Starbucks Corporation from 2004 to September 2022, including President, North American Retail from March 2018 to September 2022; President, Starbucks Canada; and Senior Vice President, Global Talent Management, among other positions. At Starbucks, Ms. Williams' responsibilities included developing the operational strategy for, and overseeing the operations of, approximately 16,000 Starbucks stores, as well as leading a team of more than 250,000 individuals. Prior to her tenure at Starbucks, Ms. Williams held several leadership positions at Blockbuster from 1999 to 2004, as well as at Toys "R" Us from 1992-1999. In connection with her appointment, the Company entered into an agreement with Ms. Williams, setting forth the terms of her employment. Pursuant to the agreement, which will become effective on February 5, 2024, Ms. Williams will receive an annual base salary of $500,000, and will be eligible for an annual discretionary bonus with a target amount equal to 75% of her annual base salary based on the achievement of certain corporate and/or individual objectives and milestones that are determined by the Compensation Committee (the " Compensation Committee ") of the Board of Direc

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On February 2, 2024, the Company issued a press release announcing Ms. William's appointment as discussed in Item 5.02. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Item 7.01 and the related information in Exhibit 99.1 attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Sweetgreen Appoints Rossann Williams as Chief Operating Officer 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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. SWEETGREEN, INC. Dated: February 2, 2024 By: /s/ Mitch Reback Mitch Reback Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR