---
schema_version: "secwatch.filing_event.v1"
accession: "0001871509-24-000078"
form_type: "8-K"
ticker: "PTLO"
cik: "0001871509"
company_name: "Portillo's Inc."
filed_at: "2024-05-30T23:59:59+00:00"
generated_at: "2026-06-01T07:28:56.591613+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Portillo's COO Derrick Pratt to depart effective June 30, 2024

## Summary
- Derrick Pratt will leave his role as Chief Operating Officer, effective June 30, 2024.
- Severance includes annual base salary, prorated 2024 bonus, COBRA reimbursement, and up to $25k outplacement.
- Unvested equity – 24,334 pre-IPO options and 20,834 RSUs – accelerate to vest on June 30, 2024.
- No successor has been announced; Pratt's departure treated as a qualifying termination under the SESP.

## SEC filing metadata
- accession: 0001871509-24-000078
- form_type: 8-K
- ticker: PTLO
- cik: 0001871509
- company_name: Portillo's Inc.
- filed_at: 2024-05-30T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000078/0001871509-24-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000078/ptlo-20240529.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001871509-24-000078
- JSON: https://secwatch.observer/filing/0001871509-24-000078.json
- Plain text: https://secwatch.observer/filing/0001871509-24-000078.txt

## Key facts
- Executive change
  Derrick Pratt departed as Chief Operating Officer at Portillo's Inc..
  - Action: depart
  - Role: Chief Operating Officer
  source text: On May 29, 2024, Portillo’s Inc. (the “Company”) announced that Derrick Pratt will depart from his role as the Company’s Chief Operating Officer, effective June 30, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1871509/000187150924000078/0001871509-24-000078-index.htm

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