secwatch.observer — SEC 8-K summary
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Issuer:     Portillo's Inc. (PTLO)
CIK:        0001871509
Form:       8-K
Filed at:   2026-10-06T12:00:57+00:00
Accession:  0001871509-26-000061
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4.1-flash:cloud@v2

Portillo's Chief People Officer Jill Waite to depart November 1, 2026; severance and RSU acceleration agreed
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- Jill Waite, Chief People Officer, agreed on Oct 5, 2026 to depart effective Nov 1, 2026; departure treated as qualifying termination under the Senior Executive Severance Plan.
- Severance includes cash equal to Annual Base Salary paid over the Severance Period, prorated 2026 bonus, COBRA reimbursement, and outplacement up to 12 months capped at $25,000.
- 19,795 RSUs scheduled to vest Apr 15, 2027 and 6,282 RSUs scheduled to vest May 2, 2027 will vest effective Nov 2, 2026, subject to a release; other equity awards forfeited.
- Options from Aug 7, 2019 grant remain exercisable to 10th anniversary; separation agreement to include release, non-compete, non-solicit, non-disparagement, cooperation covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1871509/000187150926000061/0001871509-26-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1871509/000187150926000061/ptlo-20261005.htm
  HTML page:      https://secwatch.observer/filing/0001871509-26-000061

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