Former CEO Andrew Wiederhorn exits as CEO, signs separation & consulting deal; $950k final bonus, $1,850/hr fee

Fat Brands, Inc

Former CEO Andrew Wiederhorn resigned effective May 5, 2023; now provides consulting via Fog Cutter Consulting Corp.
Separation agreement includes $950,000 final bonus for 2023; stock options continue vesting during consulting term.
Consulting agreement pays Fog Cutter Consulting $1,850 per hour; Wiederhorn also receives standard board fees as director.
Company advances all attorney fees and expenses to Wiederhorn related to pending litigation and investigations, no clawback.
Mutual releases of claims; Wiederhorn agrees to cooperate with company on investigations and legal matters.

item 5.02 item 9.01

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Departed

Andrew A. Wiederhorn

Chief Executive Officer

FATAQ · Fat Brands, Inc

Effective: 2023-05-05
Filed: July 21, 2023, 7:59 PM ET

As previously announced, Andrew A. Wiederhorn resigned as Chief Executive Officer of FAT Brands Inc. (the “ Company ”) effective as of May 5, 2023

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew A. Wiederhorn resigned as Chief Executive Officer at Fat Brands, Inc.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

As previously announced, Andrew A. Wiederhorn resigned as Chief Executive Officer of FAT Brands Inc. (the “ Company ”) effective as of May 5, 2023

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Fat Brands, Inc filing history →

Source: SEC EDGAR

accession 0001493152-23-025254

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