XML 27 R2.htm IDEA: XBRL DOCUMENT v3.24.4
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Sep. 29, 2024
Oct. 01, 2023
Oct. 02, 2022
Oct. 03, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Year
Summary Compensation Table Total for PEO (1)
Compensation Actually Paid to PEO (2)
Average Summary Compensation Table Total for Non-PEO NEOs (1)
Average Compensation Actually Paid to Non-PEO NEOs (2)
Value of Initial Fixed $100 Investment Based on:
Net Income / (Loss) (in thousands) (4)
Adjusted EBITDA (in thousands) (5)
Company TSR (3)
Peer Group TSR (3)
2024
$5,302,655 $2,588,620 $1,460,772 $1,001,308 $69.29 $141.56 $(36,695)$322,273 
2023
$5,346,487 $5,904,032 $1,218,660 $1,107,969 $95.35 $121.03 $130,826 $339,210 
2022
$4,623,568 $3,552,682 $1,319,384 $1,252,322 $77.79 $79.16 $115,781 $321,974 
2021$4,709,511 $5,194,709 $1,218,621 $1,181,661 $124.73 $124.80 $165,755 $325,680 
     
Company Selected Measure Name Adjusted EBITDA      
Named Executive Officers, Footnote
(1)     The PEO for each year reported was Mr. Harris, our Chief Executive Officer. The other named executive officers (NEOs), for year each year reported are as follows:
2024: Mr. Scott; Mr. Ostrom; Mr. Cook, Mr. Gordon; and Ms. Super
2023: Mr. Scott; Ms. Hooper; Mr. Mullany; Mr. Ostrom; Mr. Gordon; and Ms. Super
2022: Mr. Mullany; Mr. Ostrom; Mr. Cook; and Mr. Piano
2021: Mr. Mullany; Ms. Hooper; Mr. Ostrom; Mr. Gordon; Mr. Piano; and Mr. Martin
     
Peer Group Issuers, Footnote
(3)
For the relevant fiscal year, represents the cumulative TSR of our common stock and the “Company Peers” (as defined below) for the applicable fiscal year. In each case, assumes an initial investment of $100 at the beginning of that fiscal year. “Company Peers” include: for fiscal year 2024 and 2023: BJ's Restaurants Inc.; Bloomin’ Brands, Inc.; Brinker Int’l, Inc.; Cheesecake Factory Inc.; Chipotle Mexican Grill, Inc.; Cracker Barrel Old Country Store, Inc.; Denny's Corp.; Dine Brands Global Inc.; Domino's Pizza, Inc.; El Pollo Loco Holdings Inc.; Krispy Kreme, Inc.; Papa John's Int’l Inc.; Restaurant Brands Int’l Inc.; Shake Shack Inc.; Texas Roadhouse, Inc.; Wendy’s Company; and Wingstop Inc.; for fiscal year 2022: BJ's Restaurants Inc.; Carrols Restaurant Group, Inc.; Cheesecake Factory Inc.; Chipotle Mexican Grill, Inc.; Cracker Barrel Old Country Store, Inc.; Denny's Corp.; Dine Brands Global Inc.; Domino's Pizza, Inc.; El Pollo Loco Holdings Inc.; Krispy Kreme, Inc.; Papa John's Int’l Inc.; Red Robin Gourmet Burgers, Inc.; Restaurant Brands Int’l Inc.; Shake Shack Inc.; Texas Roadhouse, Inc.; Wendy’s Company; and Wingstop Inc.; and for fiscal year 2021: BJ's Restaurants Inc.; The Cheesecake Factory Inc.; Chuy's Holdings Inc.; Cracker Barrel Old Country Store, Inc.; Denny's Corp.; Dine Brands Global Inc.; Domino's Pizza, Inc.; El Pollo Loco Holdings Inc.; Noodles & Co; Papa John's Int’l Inc.; Red Robin Gourmet Burgers, Inc.; Ruth's Hospitality Group Inc.; Shake Shack Inc.; Texas Roadhouse, Inc.; The Wendy’s Company; and Wingstop Inc .
     
PEO Total Compensation Amount $ 5,302,655 $ 5,346,487 $ 4,623,568 $ 4,709,511
PEO Actually Paid Compensation Amount $ 2,588,620 5,904,032 3,552,682 5,194,709
Adjustment To PEO Compensation, Footnote SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine CAP as reported in the Pay Versus Performance table above. The table below sets forth the adjustments from Total Compensation reported in the Summary Compensation Table. For purposes of the pension valuation adjustments, there was no pension service or prior service cost. In addition, for purposes of equity adjustments, there were no dividends or other earnings paid during the applicable fiscal year.
 
2024
2023
2022
2021
 PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
Summary Compensation Table (“SCT”) Total Compensation$5,302,655 $1,460,772 $5,346,487 $1,218,660 $4,623,568 $1,319,384 $4,709,511$1,218,621
Deduct: Change in Pension Value Reported in the SCT for Applicable Fiscal Year (“FY”)$— $7,769 $— $290 $— $— $— $4,425
Deduct: Grant Date Fair Value of the “Stock Awards” Column in the SCT for Applicable FY$3,501,773 $610,126 $2,745,302 $358,811 $2,618,140 $445,614 $2,634,444$374,357
PAY VERSUS PERFORMANCE
 
2024
2023
2022
2021
 PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
Add: Fair Value at Applicable FY End of Equity Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End$2,502,908 $440,550 $3,604,355 $434,342 $2,456,309 $479,344 $2,907,881 $349,413 
Add: Change in Fair Value from the end of the Prior FY to the end of the Applicable FY of Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End$(1,270,927)$(190,685)$(193,040)$(16,166)$(758,214)$(94,153)$123,482 $17,106 
Add: Vesting Date Fair Value of Awards Granted during Prior FY that Vested During Applicable FY$(444,243)$(82,908)$(108,468)$(11,034)$(150,842)$(6,638)$88,279 $26,087 
Add: Vesting Date Fair Value of Awards Granted during Applicable FY that Vested During Applicable FY$— $32,081 $— $— $— $— $— $— 
Deduct: Fair Value at Prior Year End of Awards Granted during Prior FY that were Forfeited during Applicable FY$— $40,607 $— $158,732 $— $— $— $50,783 
Compensation Actually Paid**$2,588,620 $1,001,308 $5,904,032 $1,107,969 $3,552,682 $1,252,322 $5,194,709 $1,181,661 
*Fair value of equity awards was computed in accordance with the Company’s methodology used for financial reporting purposes
**Due to rounding, the totals shown may not equal the precise values obtained by adding and subtracting the numbers in the column.
     
Non-PEO NEO Average Total Compensation Amount $ 1,460,772 1,218,660 1,319,384 1,218,621
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,001,308 1,107,969 1,252,322 1,181,661
Adjustment to Non-PEO NEO Compensation Footnote SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine CAP as reported in the Pay Versus Performance table above. The table below sets forth the adjustments from Total Compensation reported in the Summary Compensation Table. For purposes of the pension valuation adjustments, there was no pension service or prior service cost. In addition, for purposes of equity adjustments, there were no dividends or other earnings paid during the applicable fiscal year.
 
2024
2023
2022
2021
 PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
Summary Compensation Table (“SCT”) Total Compensation$5,302,655 $1,460,772 $5,346,487 $1,218,660 $4,623,568 $1,319,384 $4,709,511$1,218,621
Deduct: Change in Pension Value Reported in the SCT for Applicable Fiscal Year (“FY”)$— $7,769 $— $290 $— $— $— $4,425
Deduct: Grant Date Fair Value of the “Stock Awards” Column in the SCT for Applicable FY$3,501,773 $610,126 $2,745,302 $358,811 $2,618,140 $445,614 $2,634,444$374,357
PAY VERSUS PERFORMANCE
 
2024
2023
2022
2021
 PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
PEO
Average
Non-PEO
NEOs
Add: Fair Value at Applicable FY End of Equity Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End$2,502,908 $440,550 $3,604,355 $434,342 $2,456,309 $479,344 $2,907,881 $349,413 
Add: Change in Fair Value from the end of the Prior FY to the end of the Applicable FY of Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End$(1,270,927)$(190,685)$(193,040)$(16,166)$(758,214)$(94,153)$123,482 $17,106 
Add: Vesting Date Fair Value of Awards Granted during Prior FY that Vested During Applicable FY$(444,243)$(82,908)$(108,468)$(11,034)$(150,842)$(6,638)$88,279 $26,087 
Add: Vesting Date Fair Value of Awards Granted during Applicable FY that Vested During Applicable FY$— $32,081 $— $— $— $— $— $— 
Deduct: Fair Value at Prior Year End of Awards Granted during Prior FY that were Forfeited during Applicable FY$— $40,607 $— $158,732 $— $— $— $50,783 
Compensation Actually Paid**$2,588,620 $1,001,308 $5,904,032 $1,107,969 $3,552,682 $1,252,322 $5,194,709 $1,181,661 
*Fair value of equity awards was computed in accordance with the Company’s methodology used for financial reporting purposes
**Due to rounding, the totals shown may not equal the precise values obtained by adding and subtracting the numbers in the column.
     
Compensation Actually Paid vs. Total Shareholder Return 2687      
Compensation Actually Paid vs. Net Income 549755819270      
Compensation Actually Paid vs. Company Selected Measure 549755819275      
Total Shareholder Return Vs Peer Group 549755819265      
Total Shareholder Return Amount $ 69.29 95.35 77.79 124.73
Peer Group Total Shareholder Return Amount 141.56 121.03 79.16 124.80
Net Income (Loss) $ (36,695,000) $ 130,826,000 $ 115,781,000 $ 165,755,000
Company Selected Measure Amount 322,273,000 339,210,000 321,974,000 325,680,000
PEO Name Mr. Harris      
Additional 402(v) Disclosure
(4)Reflects net income in the Company’s Consolidated Income Statements included in the Company’s Annual Reports on Form 10-K for each of the fiscal years shown.
     
Adjusted EBITDA, Annual Incentive Target Weighting, Percentage 50.00%      
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted EBITDA      
Non-GAAP Measure Description
(5)     The Company’s Selected Measure (“CSM) is Adjusted EBITDA which is a non-GAAP measure defined by the Company as net earnings (loss) on a GAAP basis excluding income taxes, interest expense, net, gains on the sale of company-operated restaurants, other operating expense (income), net, goodwill impairment, depreciation and amortization, amortization of cloud computing costs, amortization of favorable and unfavorable leases and subleases, net, amortization of franchise tenant improvement allowances and incentives, net COLI (gains) losses, and pension and post-retirement benefit cost. See Appendix A — Reconciliation of Non-GAAP measurements to GAAP Results. We chose Adjusted EBITDA as our Company Selected Measure for evaluating Pay versus Performance because it is the key metric for measuring operational performance and is the primary metric used in our annual incentive targets (with 50% weighting).
     
Measure:: 2        
Pay vs Performance Disclosure        
Name System Same-Store Sales      
Measure:: 3        
Pay vs Performance Disclosure        
Name Development & Net Unit Growth      
Measure:: 4        
Pay vs Performance Disclosure        
Name Operating EBIT      
Measure:: 5        
Pay vs Performance Disclosure        
Name Return on Invested Capital (ROIC)      
Measure:: 6        
Pay vs Performance Disclosure        
Name Systemwide Sales (All Restaurants)      
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (3,501,773) $ (2,745,302) $ (2,618,140) $ (2,634,444)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,502,908 3,604,355 2,456,309 2,907,881
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,270,927) (193,040) (758,214) 123,482
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (444,243) (108,468) (150,842) 88,279
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (7,769) (290)   (4,425)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (610,126) (358,811) (445,614) (374,357)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 440,550 434,342 479,344 349,413
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (190,685) (16,166) (94,153) 17,106
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 32,081      
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (82,908) (11,034) $ (6,638) 26,087
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (40,607) $ (158,732)   $ (50,783)