BJ's Restaurants appoints Brad Richmond to board, enters cooperation with Fund 1 Investments
BJs RESTAURANTS INC
Brad Richmond, former Darden Restaurants CFO, appointed to BJ's board effective Feb 27, 2024, term through 2024 annual meeting.
Cooperation agreement with Fund 1 includes standstill (max 15% ownership), voting commitments, and formation of a Shareholder Value Initiatives Committee.
Fund 1 will receive up to $75,000 reimbursement of fees; agreement lasts up to 1 year or until 30 days before 2025 annual meeting.
Richmond is a CPA with 40+ years in restaurant industry, including executive roles at Red Lobster and Olive Garden.
On February 27, 2024, the Board increased the size of the Board to twelve (12) directors and appointed C. Bradford Richmond to the Board with a term expiring at the 2024 Annual Meeting.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
C. Bradford Richmond was appointed as Director at BJs RESTAURANTS INC.
Action
appointed
Role
Director
Exact text from the filing
On February 27, 2024, the Board increased the size of the Board to twelve (12) directors and appointed C. Bradford Richmond to the Board with a term expiring at the 2024 Annual Meeting.
Material AgreementsSEC 8-K Item 1.01/1.02confidence 0.9
BJs RESTAURANTS INC entered into Cooperation Agreement with Fund 1 Investments, LLC (effective 2024-02-28).
Action
entry
Counterparty
Fund 1 Investments, LLC
Effective
2024-02-28
Exact text from the filing
On February 28, 2024, BJ’s Restaurants, Inc., a California corporation (the “ Company ”), announced its entry into a cooperation agreement (the “ Cooperation Agreement ”) with Fund 1 Investments, LLC (with its affiliates, “ Fund ”).
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