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Subsequent Events
12 Months Ended
Jun. 04, 2013
Subsequent Events [Abstract]  
Subsequent Events
 
18.  Subsequent Events
 

Sale-leaseback transactions
Subsequent to June 4, 2013, we completed sale-leaseback transactions of the land and building for three Company-owned Ruby Tuesday concept restaurants for gross cash proceeds of $5.9 million, exclusive of transaction costs of approximately $0.3 million.  Equipment was not included.  The carrying value of the properties sold was $4.8 million.  The leases have been classified as operating leases and have an initial term of 15 years, with renewal options of up to 20 years.  We realized gains on these transactions totaling $0.8 million, which have been deferred and are being recognized on a straight-line basis over the lease terms.

Share-based compensation awards
On June 10, 2013, we hired Todd Burrowes as President – Ruby Tuesday Concept and Chief Operations Officer of the Company.  In connection with this appointment, on June 21, 2013 we awarded Mr. Burrowes approximately 131,000 service-based restricted shares.  These shares will vest in three equal annual installments following the grant date.

On July 24, 2013, the Executive Compensation and Human Resources Committee of the Board of Directors approved the grant of approximately 570,000 performance-based stock options, 601,000 service-based stock options, and 186,000 service-based restricted shares under the terms of the SIP and 1996 SIP.  The performance-based stock options will cliff vest if and when the Company's stock price appreciates to $14 per share for a period of 20 consecutive days within 2.5 years of the grant date.  The service-based stock options vest in three equal annual installments following the date of grant and the restricted shares cliff vest 2.5 years following the grant date.

 Mortgage loan payoffs
Subsequent to June 4, 2013, we prepaid and retired 16 mortgage loan obligations with a June 4, 2013 aggregate balance of $9.9 million using cash on hand.  Additionally, we paid $0.8 million in prepayment premiums and $0.1 million of accrued interest in connection with the retirement of these obligations.

 
Repurchase of Senior Notes
Subsequent to June 4, 2013, we repurchased $11.0 million of the Senior Notes for $11.1 million plus $0.2 million of accrued interest.  We realized a loss of $0.1 million on this transaction.

Executive severance
On June 7, 2013, our then Chief Operations Officer separated employment with the Company.  In connection with the separation, we recorded severance expense of $0.9 million during the first quarter of fiscal 2014 in connection with an amount due pursuant to the Ruby Tuesday, Inc. Severance Pay Plan.  We paid the first half of the severance to the executive on July 10, 2013 and will pay the remaining half six months following the separation.