secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2026-02-11T23:59:59+00:00
Accession:  0001871509-26-000006
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Portillo's names Brett Patterson as CEO, effective Feb 23, 2026
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- Patterson, former CEO of Miller's Ale House, succeeds interim CEO Michael Miles who remains Chairman.
- Base salary $800k, annual bonus target 100% of base, $400k sign-on RSUs vesting over 2 years.
- Annual LTIP target $3M: 50% RSUs (3-year vest), 50% PSUs with performance conditions.
- Patterson's experience includes Outback Steakhouse, Ruby Tuesday, and Darden Restaurants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000187150926000006/0001871509-26-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000187150926000006/ptlo-20260211.htm
  HTML page:      https://secwatch.observer/filing/0001871509-26-000006

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