Texas Roadhouse Announces Board and Executive Compensation Changes
Ticker: TXRH · Form: 8-K · Filed: 2024-12-31T00:00:00.000Z
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
Texas Roadhouse shuffled its board and tweaked exec pay. Watch for new strategies.
AI Summary
Texas Roadhouse, Inc. announced on December 27, 2024, changes in its board of directors and executive compensation. Specifically, the company elected new directors and appointed certain officers, along with adjustments to their compensatory arrangements. The filing details these changes as required by SEC regulations.
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: low — This filing reports routine corporate governance changes and executive compensation adjustments, which typically do not represent significant financial or operational risks.
Key Players & Entities
- Texas Roadhouse, Inc. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- Louisville, KY (location) — Principal executive offices address
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors and departure of certain officers, but does not list the specific names of individuals elected or departing in this section.
What are the details of the compensatory arrangements for the newly appointed officers?
The filing states that compensatory arrangements for certain officers are being disclosed, but the specific details of these arrangements are not provided within this initial 8-K summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this filing occurred on December 27, 2024.
What is the principal executive office address for Texas Roadhouse, Inc.?
The principal executive office address is 6040 Dutchmans Lane, Louisville, KY 40205.
Under which section of the Securities Exchange Act of 1934 is this report filed?
This report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 2,379 words · 10 min read · ~8 pages · Grade level 19.9 · Accepted 2024-12-31 16:05:38
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share TXRH Nasdaq Global Select M
- $0 — he bonus may be reduced to a minimum of $0 or increased to a maximum of two times
Filing Documents
- tm2432052d1_8k.htm (8-K) — 65KB
- 0001104659-24-132849.txt ( ) — 238KB
- txrh-20241227.xsd (EX-101.SCH) — 3KB
- txrh-20241227_lab.xml (EX-101.LAB) — 33KB
- txrh-20241227_pre.xml (EX-101.PRE) — 22KB
- tm2432052d1_8k_htm.xml (XML) — 3KB
02. Departure of Directors or
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) On December 27, 2024, we entered into new employment agreements with Jerry Morgan, our Chief Executive Officer; Gina Tobin, our President; Chris Monroe, our Chief Financial Officer; Chris Colson, our Chief Legal and Administrative Officer and Corporate Secretary; Hernan Mujica, our Chief Technology Officer; and Travis Doster, our Chief Communications Officer. Each employment agreement is effective on January 8, 2025 and has an initial term expiring on January 7, 2028. Thereafter, each employment agreement will automatically renew for successive one-year terms unless either party elects not to renew by providing written notice to the other party at least 60 days before expiration. The new employment agreements supersede and replace the prior employment agreements with Messrs. Morgan, Monroe, Colson, Mujica, and Doster and Ms. Tobin. Base Salary. Each officer's employment agreement establishes an annual base salary as shown in the table below. During the term of the employment agreement, base salary increases are at the discretion of the Compensation Committee. 2025 ($) Jerry Morgan 1,400,000 Gina Tobin 725,000 Chris Monroe 630,000 Chris Colson 630,000 Hernan Mujica 630,000 Travis Doster 630,000 Incentive Bonus. Each officer's employment agreement provides an annual short-term cash incentive opportunity with a target bonus as set forth in the table below, with increases in the target bonus amount at the discretion of the Compensation Committee. During the term of the employment agreement, the performance criteria and terms of bonus awards are at the discretion of the Compensation Committee. The targets are currently based upon earnings per share growth and pre-tax profits. Depending on the level of achievement of the goals, the bonus may be reduced to a minimum of $0 or increased to