Cheesecake Factory CFO Eliot Exercises Options, Sells 68,900 Shares

What Happened

• Clark Matthew Eliot, Executive Vice President and Chief Financial Officer of Cheesecake Factory (CAKE), exercised 68,900 option-derived shares and sold the same 68,900 shares on July 30, 2026. The exercise cost was $40.16 per share (total $2,767,024). The shares were sold in open-market transactions at a weighted average price of $99.30 per share for gross proceeds of $6,841,770. Net proceeds from the round-trip (sale minus exercise cost) were about $4.07M before taxes and fees.
• The filing also lists a related derivative conversion/disposition for 68,900 shares at $0.00 and notes that some shares are restricted stock subject to forfeiture (see footnote F2).

Key Details

• Transaction date: July 30, 2026.
• Exercise price paid: $40.16 per share; total exercise cost $2,767,024.
• Sale: 68,900 shares sold at a weighted average $99.30 (range $99.05–$99.71 per footnote F1); gross proceeds $6,841,770.
• Net proceeds (gross sale minus exercise cost): ~ $4,074,746 (before taxes/expenses).
• Shares owned after transaction: The filing shows the exercised shares were sold the same day (net change for these shares is zero); the Form 4 does not disclose the insider’s total post-transaction holdings.
• Footnotes: F1 — sale price is a weighted average across multiple trades (range provided). F2 — some reported shares are restricted stock subject to forfeiture.
• Timeliness: Filing dated July 31, 2026, covering transactions on July 30, 2026 — appears timely.

Context

• This is a common “exercise and sell” (cashless exercise / same-day sale) transaction: the insider exercised options and sold the resulting shares immediately, which is typically done to cover exercise costs, taxes, or diversify rather than as a straightforward bullish purchase signal.
• The presence of restricted stock and a $0 derivative disposition is noted in the filing; these items can reflect vesting/settlement mechanics and do not by themselves indicate intent to hold additional shares.