secwatch.observer — SEC 8-K summary
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Issuer:     Bloomin' Brands, Inc. (BLMN)
CIK:        0001546417
Form:       8-K
Filed at:   2024-08-26T23:59:59+00:00
Accession:  0001546417-24-000129
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bloomin' Brands appoints Mike Spanos as CEO effective Sept 3, 2024; David Deno retires
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- Mike Spanos named CEO and board member, starts Sept 3, 2024; replaces retiring David Deno.
- Spanos was COO of Delta Air Lines; prior CEO of Six Flags, 25+ years at PepsiCo.
- Employment terms: $1M base salary, 175% target bonus, $2.5M upfront equity, $6M annual equity from 2025.
- Brett Patterson, President of Outback Steakhouse, resigns effective Sept 27 to join another company.
- Deno remains employed through Dec 31, 2024 for transition at current salary plus 2024 bonus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1546417/000154641724000129/0001546417-24-000129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1546417/000154641724000129/blmn-20240821.htm
  HTML page:      https://secwatch.observer/filing/0001546417-24-000129

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer