---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-124852"
form_type: "8-K"
ticker: "STKS"
cik: "0001399520"
company_name: "ONE Group Hospitality, Inc."
filed_at: "2025-12-29T23:59:59+00:00"
generated_at: "2026-05-16T12:05:32.377019+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ONE Group signs 10-restaurant Benihana development deal for SF Bay Area, expands stadium concessions

## Summary
- Largest asset-light deal: 10 Benihana locations (3 franchise, 2 JV, 5 licensed) in Greater SF Bay Area; JV openings expected 2026, others over 7 years.
- Renewed Benihana concession at Phoenix Mortgage Matchup Center (3-yr) and new concession at UBS Arena (3-yr); includes STK-branded products.
- Opened two STK locations in Q4 2025: Scottsdale, AZ (conversion from RA Sushi, ~$1M) and Oak Brook, IL (~$1.5M); both showing strong early performance.
- CEO Emanuel Hilario received $1M special bonus (clawback if terminated for cause before Dec 2028), term extended to Sept 2031, target bonus raised to 200%.
- 2026 strategy: focus on ≤$1.5M capex per unit, work through ~12 lease pipeline, identify up to 9 Kona/RA Sushi conversions to Benihana or STK.

## SEC filing metadata
- accession: 0001104659-25-124852
- form_type: 8-K
- ticker: STKS
- cik: 0001399520
- company_name: ONE Group Hospitality, Inc.
- filed_at: 2025-12-29T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1399520/000110465925124852/0001104659-25-124852-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1399520/000110465925124852/stks-20251223x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-124852
- JSON: https://secwatch.observer/filing/0001104659-25-124852.json
- Plain text: https://secwatch.observer/filing/0001104659-25-124852.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.