BJs RESTAURANTS INC 8-K

What Happened

• BJ’s Restaurants, Inc. (BJRI) filed an 8-K on April 10, 2026, announcing the appointment of Ashley A. Van as Senior Vice President and Principal Accounting Officer, effective May 11, 2026. The company entered into a letter agreement with Ms. Van on April 7, 2026 (filed as Exhibit 10.1).
• Ms. Van most recently served as Senior VP of Accounting at Reformation (since Sept 2025), and previously was VP & Controller at Sweetgreen (2021–2025) and Senior Director of Treasury and SEC Reporting at El Pollo Loco (2016–2021). She is a CPA who began her career at PricewaterhouseCoopers.

Key Details

• Base salary: $340,000 per year.
• Bonus: Annual target of at least 55% of base salary; current multiplier range 75%–125% based on individual performance.
• Signing bonus & initial equity: $50,000 signing bonus (paid $25,000 at ~30 days and $25,000 after one year); potential initial equity grant with $300,000 grant-date fair market value (subject to Compensation Committee approval), vesting in three annual installments beginning July 15, 2027, split equally between restricted stock units and non‑qualified stock options.
• 2027 long-term incentive: Target equity grant value of $180,000 (mix of performance units, RSUs and/or options). Termination pay: if terminated without cause or she resigns for Good Reason, severance equals six months’ base pay plus one additional month per year of service (capped at 12 months), plus continuation of health insurance and payment of employer portion of COBRA during the severance period.

Why It Matters

• This is a material leadership hire in BJ’s finance and SEC reporting function; Ms. Van will oversee accounting and reporting as Principal Accounting Officer starting May 11, 2026.
• The compensation package includes cash (salary and signing bonus), equity grants, and severance protections, which have implications for future payroll, equity dilution/expense, and potential cash obligations if a covered termination occurs.