secwatch.observer — SEC 8-K summary
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Issuer:     NOODLES & Co (NDLS)
CIK:        0001275158
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001275158-23-000096
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Noodles & Company appoints Drew Madsen as interim CEO; Dave Boennighausen departs
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- Drew Madsen, board member since 2017, named interim CEO effective Nov 9, 2023; former President of Panera Bread and Darden.
- Dave Boennighausen terminated as CEO; eligible for severance upon signing release agreement.
- Board initiates comprehensive search for permanent CEO with executive search firm assistance.
- Madsen receives $669,500 annual base salary and 100,000 RSUs vesting at permanent CEO start or change of control.
- Monthly grants of 10,000 RSUs begin May 1, 2024, while serving as interim CEO.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1275158/000127515823000096/0001275158-23-000096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1275158/000127515823000096/ndls-20231109.htm
  HTML page:      https://secwatch.observer/filing/0001275158-23-000096

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