Company: JACK
Filing Date: 2025-05-01
Form Type: 8-K
Source: 0000807882-25-000024
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Company: JACK IN THE BOX INC
Filing Date: 2025-05-01
Form: 8-K
Item: Item 5.02
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ITEM 5.02

DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

Compensatory Arrangements of Certain Officers

On April 26, 2025, the Compensation Committee of the Board of Directors of Jack in the Box Inc. (the “ Company”) approved the grant of stock retention awards (the “ Retention Awards”) to the Company’s executive leadership team. The Retention Awards are to be granted effective May 1, 2025, and subject to the terms set forth below.

Named executive officers of the Company (excluding the Company’s Chief Executive Officer) were among the recipients of the Retention Awards. The aggregate amount of the awards to such named executive officers is set forth in the table below:

  Named Executive Officer                        Aggregate Award Amount  
  Ryan Ostrom                                                $1,000,000  
  Sarah Super                                                  $750,000  
  Doug Cook                                                    $500,000  
  Dawn Hooper (principal financial officer)                    $300,000  

The Retention Award amounts are to be split with 50% received in restricted stock units (“ RSUs”) and 50% received in performance share units (“ PSUs”). The number of shares of each RSUs and PSUs will be determined by reference to the 20-day average closing stock price of the Company’s common stock as of the last business day preceding the grant date. The RSUs will vest 33% per year over three years. The PSUs are market-based with a three-year cliff vest using a baseline stock price of $24.79 (the 20-day average closing stock price of the Company’s common stock as of the last business day preceding the grant date). Vesting of PSUs will be based upon achievement of the following stock price hurdles: upon achievement of 1.5x of the baseline stock price, 150% of the target award shall be earned; and upon achievement of 2x of the baseline stock price, 200% of the target award shall be earned. Price hurdle achievement for such PSU awards will be satisfied after 20 consecutive trading days at the target price or higher. The value for each recipient will be banked and vested at the completion of the third year from the grant date and released in shares of common stock provided continued employment.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of