Company: JACK
Filing Date: 2025-01-27
Form Type: DEF 14A
Source: 0000807882-25-000004
Chunk: 48

Company: JACK IN THE BOX INC
Filing Date: 2025-01-27
Form: DEF 14A
Chunk 48
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 In November 2023, the Committee granted the fiscal 2024 PSU awards to our then-serving NEOs (Messrs. Harris, Scott, Ostrom, Cook, Gordon and Ms. Super). The PSU grants are based on two equally-weighted metrics – Cumulative Systemwide Sales and ROIC. The Committee determined that (1) the Cumulative Systemwide Sales goals would be set for the full three-year Performance Period and measured at the end of the third fiscal year; and (2) the ROIC goals, due to continued challenges in forecasting posed by the rapid pace of investments needed to grow the business and upgrade our technology systems, including digital, are set annually at the beginning of each fiscal year of the Performance Period. The Committee determined that setting annual ROIC goals improves its visibility into the relative attainability of the goals and, as a result, better enable to the Committee to set appropriate, rigorous goals that would align performance and payout. Despite setting annual ROIC goals, vesting of the PSUs occurs at the end of the 3-year Performance Period based on the extent to which goals were met during the full three-year Performance Period. These two metrics support the critical drivers of our success: growing top-line profitable sales in all franchise and company restaurants, and efficiently using capital to grow the business and make prudent investments in the Company. For each metric, the Committee believes the goals set are appropriately challenging, yet reasonably attainable. The actual goals are not being disclosed before the end of the Performance Period because we believe such disclosure would be competitively harmful. 2022-2024 PSU Achievement and Vesting : PSUs approved in December 2021 (based on the three-fiscal year 2022-2024 Performance Period), with a grant effective date of March 4, 2022 following shareholder approval of the Company's 2023 Omnibus Incentive Plan vested and were payable following the Committee’s approval in November 2024 of the performance levels attained relative to the performance metrics shown in the table below. Together, performance outcomes resulted in a weighted payout of 125% of the target number of PSUs granted.

|           |     | Approved Measures (Excludes Del Taco)                                   |     | Weight  |     |                                                  | Goal (millions) |     |           |     |           |     | Actual at FYE24 |     | Vesting |
| Threshold |     | Target                                                                  |     | Maximum |     |                                                  |                 |     |           |     |           |