---
schema_version: "secwatch.filing_event.v1"
accession: "0001871509-25-000141"
form_type: "8-K"
ticker: "PTLO"
cik: "0001871509"
company_name: "Portillo's Inc."
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:43:33.549523+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Portillo's Chief Development Officer Michael Ellis to depart Oct 31, 2025

## Summary
- Mike Ellis departs as Chief Development Officer effective October 31, 2025; qualifies for Senior Executive Severance Plan.
- Severance includes cash equal to annual base salary paid over severance period, prorated 2025 bonus, COBRA reimbursement, and outplacement up to $25,000.
- Upon release, 6,208 RSUs (Apr 2026 vest) and 6,281 RSUs (May 2026 vest) will accelerate to October 31, 2025; all other equity forfeited.
- Company expects to enter Separation Agreement with customary non-compete, non-solicit, and release provisions.

## SEC filing metadata
- accession: 0001871509-25-000141
- form_type: 8-K
- ticker: PTLO
- cik: 0001871509
- company_name: Portillo's Inc.
- filed_at: 2025-10-29T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1871509/000187150925000141/0001871509-25-000141-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1871509/000187150925000141/ptlo-20251029.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001871509-25-000141
- JSON: https://secwatch.observer/filing/0001871509-25-000141.json
- Plain text: https://secwatch.observer/filing/0001871509-25-000141.txt

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