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Director Nominees | | | Class | | | Age | | | Position | | | Year Elected to Current Term | | | Current Term Expiration | | | Expiration of Term for which Nominated | | ||||||||||||
Randy Garutti | | | II | | | | | 45 | | | | Chief Executive Officer and Director | | | | | 2017 | | | | | | 2020 | | | | | | 2023 | | |
Joshua Silverman(1) | | | II | | | | | 51 | | | | Director | | | | | 2017 | | | | | | 2020 | | | | | | 2023 | | |
Jonathan D. Sokoloff(2) | | | II | | | | | 62 | | | | Director | | | | | 2017 | | | | | | 2020 | | | | | | 2023 | | |
Continuing Directors | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Daniel Meyer(3) | | | I | | | | | 62 | | | | Chairman of the Board of Directors | | | | | 2016 | | | | | | 2022 | | | | | | - | | |
Anna Fieler(2) | | | I | | | | | 48 | | | | Director | | | | | 2017 | | | | | | 2022 | | | | | | - | | |
Jeff Flug(4) | | | I | | | | | 57 | | | | Director | | | | | 2016 | | | | | | 2022 | | | | | | - | | |
Sumaiya Balbale(5) | | | III | | | | | 39 | | | | Director | | | | | 2019 | | | | | | 2021 | | | | | | - | | |
Jenna Lyons(6) | | | III | | | | | 51 | | | | Director | | | | | 2015 | | | | | | 2021 | | | | | | - | | |
Robert Vivian(7) | | | III | | | | | 61 | | | | Director | | | | | 2015 | | | | | | 2021 | | | | | | - | | |
Director Nominees | | | Class | | | Age | | | Position | | | Year Elected to Current Term | | | Current Term Expiration | | | Expiration of Term for which Nominated | | ||||||||||||
Randy Garutti | | | II | | | | | 48 | | | | Chief Executive Officer and Director | | | | | 2020 | | | | | | 2023 | | | | | | 2026 | | |
Joshua Silverman(1) | | | II | | | | | 54 | | | | Director | | | | | 2020 | | | | | | 2023 | | | | | | 2026 | | |
Jonathan D. Sokoloff(2) | | | II | | | | | 65 | | | | Director | | | | | 2020 | | | | | | 2023 | | | | | | 2026 | | |
Tristan Walker(3) | | | II | | | | | 38 | | | | Director | | | | | 2020 | | | | | | 2023 | | | | | | 2026 | | |
Continuing Directors | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Sumaiya Balbale(4) | | | III | | | | | 42 | | | | Director | | | | | 2021 | | | | | | 2024 | | | | | | - | | |
Jeffrey Lawrence(5) | | | III | | | | | 49 | | | | Director | | | | | | | | | | | 2024 | | | | | | - | | |
Jenna Lyons(6) | | | III | | | | | 54 | | | | Director | | | | | 2021 | | | | | | 2024 | | | | | | - | | |
Robert Vivian(7) | | | III | | | | | 65 | | | | Lead Director | | | | | 2021 | | | | | | 2024 | | | | | | - | | |
Daniel Meyer | | | I | | | | | 65 | | | | Chairman of the Board of Directors | | | | | 2022 | | | | | | 2025 | | | | | | - | | |
Anna Fieler(2) | | | I | | | | | 51 | | | | Director | | | | | 2022 | | | | | | 2025 | | | | | | - | | |
Jeff Flug(8) | | | I | | | | | 60 | | | | Director | | | | | 2022 | | | | | | 2025 | | | | | | - | | |
Lori George Billingsley(3) | | | I | | | | | 59 | | | | Director | | | | | 2022 | | | | | | 2025 | | | | | | - | | |
| | The Board of Directors recommends a vote FOR the election of each of the nominated directors. | | |
Total Number of Directors | | | 12 | | |||||||||
| | | Female | | | Male | | ||||||
Directors | | | | | 4 | | | | | | 8 | | |
Number of Directors Who Identify in Any of the Categories Below: | | | | | | | | | | | | | |
Race/Ethnicity | | | | | | | | | | | | | |
African American/Black | | | | | 1 | | | | | | 1 | | |
Asian/South Asian American | | | | | 2 | | | | | | - | | |
White/Caucasian | | | | | 1 | | | | | | 7 | | |
LGBTQ+ | | | | | 1 | | | | | | - | | |
Name | | Fees earned or paid in cash ($)(1) | | Restricted Stock Unit Awards ($)(2)(3) | | Total ($) | | | Fees paid in cash ($)(2) | | Restricted Stock Units ($)(3)(4) | | Total ($) | | ||||||||||||||||||||||||
Daniel Meyer | | | | 25,000 | | | | | 24,991 | | | | | 49,991 | | | | | | 18,750 | | | | | 125,012 | | | | | 143,762 | | | ||||||
Sumaiya Balbale | | | | 37,500 | | | | | 46,808 | | | | | 84,308 | | | | | | 21,250 | | | | | 140,026 | | | | | 161,276 | | | ||||||
Lori George Billingsley | | | | 7,813 | | | | | 46,914 | | | | | 54,727 | | | ||||||||||||||||||||||
Anna Fieler | | | | 37,500 | | | | | 37,454 | | | | | 74,954 | | | | | | 18,750 | | | | | 125,012 | | | | | 143,762 | | | ||||||
Jeff Flug | | | | 42,500 | | | | | 42,465 | | | | | 84,965 | | | | | | 71,875 | | | | | 67,504 | | | | | 139,379 | | | ||||||
Jenna Lyons | | | | 37,500 | | | | | 37,454 | | | | | 74,954 | | | | | | 65,625 | | | | | 62,526 | | | | | 128,151 | | | ||||||
Joshua Silverman | | | | 37,500 | | | | | 37,454 | | | | | 74,954 | | | | | | 18,750 | | | | | 125,012 | | | | | 143,762 | | | ||||||
Jonathan D. Sokoloff | | | | 25,000 | | | | | 24,991 | | | | | 49,991 | | | | | | 65,625 | | | | | 62,526 | | | | | 128,151 | | | ||||||
Robert Vivian | | | | 47,500 | | | | | 47,477 | | | | | 94,977 | | | | | | 75,625 | | | | | 72,522 | | | | | 148,147 | | | ||||||
Tristan Walker | | | | 65,625 | | | | | 62,526 | | | | | 128,151 | | |
| | 2019 | | 2018 | | | 2022 | | 2021 | | ||||||||||||||||
Audit Fees(1) | | | $ | 1,282,867 | | | | $ | 1,221,520 | | | | | $ | 1,613,454 | | | | $ | 1,473,169 | | | ||||
Audit Related Fees(2) | | | | - | | | | | 31,400 | | | | | | - | | | | | 24,000 | | | ||||
Tax Fees | | | | - | | | | | - | | | | | | - | | | | | 27,500 | | | ||||
All Other Fees | | | | - | | | | | 75,884 | | | | | | - | | | | | 126,000 | | | ||||
Total Fees | | | $ | 1,282,867 | | | | $ | 1,328,704 | | | | | $ | 1,613,454 | | | | $ | 1,650,669 | | |
| | The Board of Directors recommends a vote FOR the ratification of the appointment of Ernst & Young LLP. | | |
| | The Board of Directors recommends a vote FOR the approval, on an advisory basis, of the compensation of the Named Executive Officers as disclosed in this Proxy Statement. | | |
| | | Shares of Class A Common Stock Beneficially Owned | | | Shares of Class B Common Stock Beneficially Owned | | | Combined Voting Power(1) | | | | | | | | |||||||||||||||||||||
Name of Beneficial Owner | | | Number | | | Percentage | | | Number | | | Percentage | | | | | | ||||||||||||||||||||
Named Executive Officers and Directors | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
Daniel Meyer(2) | | | | | 2,690,671 | | | | | | 7.8% | | | | | | 1,861,057 | | | | | | 59.7% | | | | | | 12.1% | | | | | ||||
Randy Garutti(3) | | | | | 578,746 | | | | | | 1.7% | | | | | | 310,023 | | | | | | 9.9% | | | | | | 2.4% | | | | | ||||
Tara Comonte(4) | | | | | 16,778 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | ||||
Zachary Koff(5) | | | | | 39,595 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | ||||
Sumaiya Balbale(6) | | | | | 741 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | ||||
Anna Fieler(7) | | | | | 1,557 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | ||||
Jeff Flug(8) | | | | | 5,722 | | | | | | * | | | | | | 50,000 | | | | | | 1.6% | | | | | | * | | | | | ||||
Jenna Lyons(9) | | | | | 12,371 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | ||||
Joshua Silverman(10) | | | | | 3,224 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | ||||
Jonathan D. Sokoloff(11) | | | | | 11,665 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | ||||
Robert Vivian(12) | | | | | 55,424 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | ||||
All directors and executive officers as a group (eleven persons) | | | | | 3,416,494 | | | | | | 9.9% | | | | | | 2,221,080 | | | | | | 71.3% | | | | | | 15.0% | | | | | ||||
Other 5% Stockholders | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
12 West Capital Management LP(13) | | | | | 2,597,736 | | | | | | 7.5% | | | | | | — | | | | | | — | | | | | | 6.9% | | | | | ||||
The Vanguard Group(14) | | | | | 3,028,033 | | | | | | 8.8% | | | | | | — | | | | | | — | | | | | | 8.0% | | | | | ||||
BlackRock, Inc.(15) | | | | | 4,504,578 | | | | | | 13.0% | | | | | | — | | | | | | — | | | | | | 12.0% | | | | | ||||
Gilder, Gagnon, Howe & Co. LLC(16) | | | | | 2,256,088 | | | | | | 6.5% | | | | | | — | | | | | | — | | | | | | 6.0% | | | | |
| | | Shares of Class A Common Stock Beneficially Owned | | | Shares of Class B Common Stock Beneficially Owned | | | Combined Voting Power(1) | | |||||||||||||||||||||
| | | Number | | | Percentage | | | Number | | | Percentage | | ||||||||||||||||||
Named Executive Officers and Directors | | | | | | | |||||||||||||||||||||||||
Daniel Meyer(2) | | | | | 1,895,997 | | | | | | 4.8% | | | | | | 1,861,057 | | | | | | 65.4% | | | | | | 8.9% | | |
Randy Garutti(3) | | | | | 63,060 | | | | | | * | | | | | | 310,023 | | | | | | 10.9% | | | | | | * | | |
Katherine Fogertey | | | | | 4,260 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Zachary Koff(4) | | | | | 26,615 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Sumaiya Balbale(5) | | | | | 6,106 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Lori George Billingsley | | | | | — | | | | | | — | | | | | | — | | | | | | —% | | | | | | — | | |
Anna Fieler(6) | | | | | 6,501 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Jeff Flug(7) | | | | | 7,628 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Jenna Lyons(8) | | | | | 11,157 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Joshua Silverman(9) | | | | | 8,168 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Jonathan D. Sokoloff(10) | | | | | 15,065 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Robert Vivian(11) | | | | | 32,553 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
Tristan Walker(12) | | | | | 3,277 | | | | | | * | | | | | | — | | | | | | —% | | | | | | * | | |
All directors and executive officers as a group (thirteen persons) | | | | | 2,080,387 | | | | | | 5.3% | | | | | | 2,171,080 | | | | | | 76.3% | | | | | | 10.1% | | |
Other 5% Stockholders | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
BlackRock, Inc.(13) | | | | | 6,193,007 | | | | | | 15.7% | | | | | | — | | | | | | —% | | | | | | 14.7% | | |
The Vanguard Group(14) | | | | | 4,114,443 | | | | | | 10.4% | | | | | | — | | | | | | —% | | | | | | 9.7% | | |
Name | | | Age | | | Position | |
Randy Garutti | | | | | Chief Executive Officer and Director | | |
| | | | | |||
Zachary Koff | | | | | Chief Operating Officer | |
NEO | | | Title | |
Randy Garutti | | | Chief Executive Officer | |
| | | ||
Zachary Koff | | | Chief Operating Officer | |
| | Element | | | | How It’s Paid | | | | Purpose | | |
| | Base Salary | | | | Cash (Fixed) | | | | Provides a competitive fixed rate of pay relative to similar positions in the market, and enables the Company to attract and retain critical executive talent | | |
| | | | | Cash (Variable) | | | | Focuses executives on achieving | | | |
| | Long-Term Incentives | | | | Mix of Equity (Variable) | | | | Provides incentives for executives to execute on longer-term financial/strategic growth goals that drive stockholder value creation and support the Company’s leadership retention objectives | | |
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| | Canada Goose Holdings Inc. | | | | | | |
| | Churchill Downs Incorporated | | | | | | |
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| | Peer Data ($M)(1) | | | |||||||||||||||||||||
| | | | | | Corporate Revenue | | | | Enterprise Value | | | | Market Cap | | | |||||||||
| | Median | | | | | $ | 914 | | | | | | $ | 4,360 | | | | | | $ | 3,950 | | | |
| | SHAK | | | | | $ | 595 | | | | | | $ | 2,500 | | | | | | $ | 2,240 | | | |
| | Estimated Percentile Rank of SHAK within Peer Group | | | | | | 29th | | | | | | | 21st | | | | | | | 29th | | | |
| | Peer Data ($M)(1) | | | |||||||||||||||||||||
| | | | | | Total Revenue | | | | Enterprise Value | | | | Market Cap | | | |||||||||
| | Median | | | | | $ | 1,809 | | | | | | $ | 6,680 | | | | | | $ | 6,090 | | | |
| | SHAK | | | | | $ | 900 | | | | | | $ | 2,010 | | | | | | $ | 1,630 | | | |
| | Estimated Percentile Rank of SHAK within Peer Group | | | | | | 25th | | | | | | | 17th | | | | | | | 17th | | | |
| | 2023 Peer Group | | | ||||
| | Bloomin Brands, Inc. | | | | Ruth’s Hospitality Group, Inc. | | |
| | Brinker International | | | | Sweetgreen | | |
| | Chipotle Mexican Grill, Inc. | | | | Texas Roadhouse | | |
| | Dave & Buster’s Entertainment | | | | The Cheesecake Factory Inc. | | |
| | Planet Fitness, Inc. | | | | Vail Resorts, Inc. | | |
| | Portillo’s | | | | Wingstop Inc. | | |
NEO | | 2018 Base Pay | | 2019 Base Pay | | % Change | | | 2021 Base Pay | | 2022 Base Pay | | % Change | | ||||||||||||||||||||||||
Randy Garutti | | | $ | 540,750 | | | | $ | 600,233 | | | | | 11% | | | | | $ | 630,250 | | | | $ | 750,000 | | | | | 19% | | | ||||||
Tara Comonte | | | $ | 472,500 | | | | $ | 524,475 | | | | | 11% | | | ||||||||||||||||||||||
Katherine Fogertey | | | $ | 450,000 | | | | $ | 472,500 | | | | | 5% | | | ||||||||||||||||||||||
Zachary Koff | | | $ | 275,000 | | | | $ | 300,000 | | | | | 9% | | | | | $ | 330,750 | | | | $ | 375,000 | | | | | 13% | | |
| | | Target Annual Cash Award Opportunity (as % of Base Salary) | | |||||||||||||||
NEO | | | Threshold | | | Target | | | Maximum | | |||||||||
Randy Garutti | | | | | 0% | | | | | | 75% | | | | | | 150% | | |
Tara Comonte | | | | | 0% | | | | | | 50% | | | | | | 100% | | |
Zachary Koff | | | | | 0% | | | | | | 35% | | | | | | 58.45% | | |
| | | | | | | | | Target Cash Award Opportunity (as % of Base Salary) | | |||||||||||||||||||||
| | | | | | | | | 2021 | | | 2022 | | ||||||||||||||||||
NEO | | | Threshold | | | Target | | | Maximum | | | Target | | | Maximum | | |||||||||||||||
Randy Garutti | | | | | 0% | | | | | | 75% | | | | | | 150% | | | | | | 100% | | | | | | 200% | | |
Katherine Fogertey | | | | | 0% | | | | | | 50% | | | | | | 100% | | | | | | 50% | | | | | | 100% | | |
Zachary Koff | | | | | 0% | | | | | | 35% | | | | | | 58.5% | | | | | | 40% | | | | | | 66.8% | | |
| | | Weighting | | |||||||||
Performance Metrics | | | CEO | | | Other NEOs | | ||||||
Total Revenue vs Budget* | | | | | 50% | | | | | | 40% | | |
Adjusted EBITDA vs Budget** | | | | | 50% | | | | | | 40% | | |
Individual Performance (Individual Performance and Goal Achievement) | | | | | 0% | | | | | | 20% | | |
| | | 2022 Weighting | | |||
Performance Metrics | | | All NEOs | | |||
Quarter Total Revenue vs Budget* | | | | | 50% | | |
Quarter Adjusted EBITDA vs Budget** | | | | | 50% | | |
| Financial Performance Metric | | Target Performance Goal ($) | | | Range of Performance Achievement | | | Actual % of Achievement | | Actual % of Payout | | Financial Performance Metric | | | Range of Performance Achievement | | |||||||||||||||||||||||||||||||||||||||||
| Threshold | | Target | | Maximum | | | Threshold | | Target | | Maximum | | |||||||||||||||||||||||||||||||||||||||||||||
| Total Revenue | | | $ | 572,467,655 | | | | | 90% | | | | | 100% | | | | | 105% | | | | | 103.9% | | | | | 177.0% | | | Total Revenue | | | | 90% | | | | | 100% | | | | | 105% | | | |||||||||
| Adjusted EBITDA | | | $ | 84,787,722 | | | | | 90% | | | | | 100% | | | | | 115% | | | | | 105.5% | | | | | 136.9% | | | Adjusted EBITDA | | | | 90% | | | | | 100% | | | | | 115% | | | |||||||||
| Total Payout | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 156.9% | | |
| | | Q1(1) | | | Q2(2) | | | Q3(3) | | | Q4(4) | | ||||||||||||||||||||||||||||||||||||
Financial Performance Metric | | | Target Performance Goal | | | Actual Achievement | | | Target Performance Goal | | | Actual Achievement | | | Target Performance Goal | | | Actual Achievement | | | Target Performance Goal | | | Actual Achievement | | ||||||||||||||||||||||||
Total Revenue | | | | $ | 208,669,439 | | | | | | 96.9% | | | | | $ | 238,294,220 | | | | | | 96.8% | | | | | $ | 234,487,120 | | | | | | 97.2% | | | | | $ | 240,271,648 | | | | | | 99.3% | | |
Adjusted EBITDA | | | | $ | 9,677,443 | | | | | | 128.9% | | | | | $ | 19,020,039 | | | | | | 131.7% | | | | | $ | 20,285,695 | | | | | | 113.1% | | | | | $ | 17,254,725 | | | | | | 136.2% | | |
| NEO | | Base Salary | | Target Annual Award (% of Base Salary) | | Target Annual Incentive Value ($) | | Financial Performance Actual Achievement | | Individual Performance Actual Achievement | | Total Award Payout Value | | NEO | | Target Annual Award (% of Base Salary) | | Target Annual Incentive Value ($) | | Total Payout Based on Financial Performance Actual Achievement | | Total Award Payout Value | | ||||||||||||||||||||||||||||||||||||||||
| Randy Garutti | | | $ | 600,233 | | | | | 75% | | | | $ | 450,175 | | | | | 156.9% | | | | | N/A | | | | $ | 706,527 | | | Randy Garutti | | | | 100% | | | | $ | 731,577 | | | | | 136.1% | | | | $ | 996,013 | | | ||||||||||
| Tara Comonte | | | $ | 524,475 | | | | | 50% | | | | $ | 257,740 | | | | | 156.9% | | | | | 150% | | | | $ | 400,930 | | | Katherine Fogertey | | | | 50% | | | | $ | 234,519 | | | | | 136.1% | | | | $ | 319,213 | | | ||||||||||
| Zachary Koff | | | $ | 300,000 | | | | | 35% | | | | $ | 103,486 | | | | | 145.8% | | | | | 100% | | | | $ | 135,074 | | | Zachary Koff | | | | 40% | | | | $ | 147,277 | | | | | 120.2% | | | | $ | 176,960 | | |
| Financial Performance Metric | | | Target Performance Goal ($) | | | Range of Performance Achievement | | | Actual % of Achievement | | | Actual % of Payout | | ||||||||||||||||||||||||
| Threshold | | | Target | | | Maximum | | ||||||||||||||||||||||||||||||
| Total Revenue | | | | $ | 572,467,655 | | | | | | 95% | | | | | | 100% | | | | | | 105% | | | | | | 103.9% | | | | | | 119.3% | | |
| Adjusted EBITDA | | | | $ | 84,787,722 | | | | | | 95% | | | | | | 100% | | | | | | 120% | | | | | | 105.5% | | | | | | 106.9% | | |
| Total Payout | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 113.1% | | |
| | | Target PSUs Granted for 2019 | | | Actual PSUs Earned for 2019 | | ||||||||||||
NEO | | | PSUs (#) | | | PSUs ($) | | | PSUs (#) | | |||||||||
Randy Garutti | | | | | 7,147 | | | | | $ | 375,003 | | | | | | 8,077 | | |
Tara Comonte | | | | | 4,765 | | | | | $ | 250,020 | | | | | | 5,385 | | |
Zachary Koff | | | | | 3,812 | | | | | $ | 200,016 | | | | | | 4,310 | | |
| Named Executive Officer and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards ($)(1) | | Option Awards ($)(2) | | Non-Equity Incentive Plan Compensation ($) | | Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($)(3) | | Total ($) | | Named Executive Officer and Principal Position | | Year | | Salary ($)(1) | | Bonus ($)(2) | | Stock Awards ($)(3) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($)(1) | | Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($)(4) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Randy Garutti Chief Executive Officer | | | | | 2019 | | | | | 600,233 | | | | | | | | | | 787,506 | | | | | — | | | | | 706,527 | | | | | — | | | | | 221,650 | | | | | 2,315,916 | | | Randy Garutti Chief Executive Officer | | | | | 2022 | | | | | 731,577 | | | | | — | | | | | 1,500,022 | | | | | — | | | | | 996,013 | | | | | — | | | | | 118,224 | | | | | 3,345,836 | | |||||||||||||||||
| | | 2018 | | | | | 540,750 | | | | | 2,450,000 | | | | | 303,362 | | | | | — | | | | | 413,427 | | | | | — | | | | | 97,872 | | | | | 3,805,411 | | | | | | 2021 | | | | | 630,250 | | | | | — | | | | | 3,549,992 | | | | | — | | | | | 623,103 | | | | | — | | | | | 663,217 | | | | | 5,466,562 | | ||||||||||||||||||||||
| | | 2017 | | | | | 525,000 | | | | | — | | | | | 285,452 | | | | | — | | | | | 263,600 | | | | | — | | | | | — | | | | | 1,074,052 | | | | | | 2020 | | | | | 611,552 | | | | | 30,000 | | | | | 1,500,013 | | | | | — | | | | | 94,538 | | | | | — | | | | | 494,684 | | | | | 2,730,786 | | ||||||||||||||||||||||
| Tara Comonte President, Chief Financial Officer | | | | | 2019 | | | | | 524,475 | | | | | — | | | | $ | 1,025,046 | | | | | 100,000 | | | | | 400,930 | | | | | — | | | | | 8,933 | | | | | 2,059,383 | | | Katherine Fogertey Chief Financial Officer | | | | | 2022 | | | | | 469,038 | | | | | — | | | | | 750,048 | | | | | — | | | | | 319,213 | | | | | — | | | | | 6,265 | | | | | 1,544,564 | | | ||||||||||||||||
| | | 2018 | | | | | 472,067 | | | | | — | | | | | 651,686 | | | | | 100,015 | | | | | 341,910 | | | | | — | | | | | 12,719 | | | | | 1,078,392 | | | | | | 2021 | | | | | 238,846 | | | | | — | | | | | 2,650,010 | | | | | — | | | | | 165,824 | | | | | — | | | | | 1,015 | | | | | 3,055,695 | | | |||||||||||||||||||||
| | | 2017 | | | | | 247,500 | | | | | 351,250 | | | | | 1,635,621 | | | | | 100,003 | | | | | 123,750 | | | | | — | | | | | 12,673 | | | | | 2,470,797 | | | Zachary Koff Chief Operating Officer | | | | | 2022 | | | | | 368,192 | | | | | — | | | | | 750,048 | | | | | — | | | | | 176,960 | | | | | — | | | | | 3,106 | | | | | 1,298,306 | | ||||||||||||||||||||
| Zachary Koff Chief Operating Officer | | | | | 2019 | | | | | 300,000 | | | | | — | | | | | 420,034 | | | | | — | | | | | 135,074 | | | | | — | | | | | | | | | | 856,738 | | | | | | 2021 | | | | | 328,024 | | | | | — | | | | | 1,350,071 | | | | | — | | | | | 130,503 | | | | | — | | | | | 1,977 | | | | | 1,810,575 | | |||||||||||||||||||
| | | 2018 | | | | | 274,519 | | | | | — | | | | | 137,553 | | | | | — | | | | | 112,844 | | | | | — | | | | | 815 | | | | | 525,731 | | | | | | 2020 | | | | | 305,655 | | | | | 15,000 | | | | | 400,056 | | | | | — | | | | | 22,050 | | | | | — | | | | | 1,631 | | | | | 744,392 | | ||||||||||||||||||||||
| | | 2017 | | | | | 249,591 | | | | | — | | | | | 130,705 | | | | | — | | | | | 79,748 | | | | | — | | | | | — | | | | | 460,044 | | |
| | | | | | | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | Estimated Future Payouts Under Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units | | All Other Option Awards: Number of Securities Underlying Options | | Exercise or Base Price of Option Awards | | Grant Date Fair Value of Stock and Option Awards | | | | | | | | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | Estimated Future Payouts Under Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units | | All Other Option Awards: Number of Securities Underlying Options | | Exercise or Base Price of Option Awards | | Grant Date Fair Value of Stock and Option Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | Grant | | Threshold | | Target | | Maximum | | Threshold | | Target | | Maximum | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Named Executive Officer | | | | | | | | | | | | | | Threshold | | Target | | Maximum | | Threshold | | Target | | Maximum | | | All Other Stock Awards: Number of Shares of Stock or Units | | All Other Option Awards: Number of Securities Underlying Options | | Exercise or Base Price of Option Awards | | Grant Date Fair Value of Stock and Option Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Type | | Date | | ($) | | ($) | | ($) | | (#)(1) | | (#)(1) | | (#)(1) | | (#)(2) | | (#)(2) | | ($/Sh) | | ($)(2) | | | Type | | Grant Date | | ($) | | ($) | | ($) | | (#) | | (#) | | (#) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Randy Garutti | | | | Cash Bonus | | | | | 1/1/2019 | | | | | — | | | | | 487,175 | | | | | 900,350 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | | | | | | Cash Incentive | | | | | 12/30/2021 | | | | | — | | | | | 731,577 | | | | | 1,463,154 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||||||||
| | | | RSUs | | | | | 3/1/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 7,147 | | | | | — | | | | | — | | | | | 375,003 | | | | | | RSUs | | | | | 3/1/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 19,971 | | | | | — | | | | | — | | | | | 1,500,022 | | | ||||||||||||||||||||||||
| | | | PSUs | | | | | 3/1/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 7,147 | | | | | 8,934 | | | | | — | | | | | — | | | | | — | | | | | 412,503 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tara Comonte | | | | Cash Bonus | | | | | 1/1/2019 | | | | | — | | | | | 257,740 | | | | | 515,479 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | RSUs | | | | | 1/3/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 11,413 | | | | | — | | | | | — | | | | | 500,004 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | RSUs | | | | | 3/1/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 4,765 | | | | | — | | | | | — | | | | | 250,020 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | PSUs | | | | | 3/1/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 4,765 | | | | | 5,956 | | | | | — | | | | | — | | | | | — | | | | | 275,022 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Katherine Fogertey | | | | Cash Incentive | | | | | 12/30/2021 | | | | | — | | | | | 234,519 | | | | | 469,038 | | | | | — | | | | | — | | | | | — | | | | | | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | Options | | | | | 3/22/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,785 | | | | | 54.36 | | | | | 100,000 | | | | | | RSUs | | | | | 3/1/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 9,986 | | | | | — | | | | | — | | | | | 750,048 | | | ||||||||||||||||||||||||
Zachary Koff | | | | Cash Bonus | | | | | 1/1/2019 | | | | | — | | | | | 103,486 | | | | | 172,821 | | | | | — | | | | | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | | | | | | Cash Incentive | | | | | 12/30/2021 | | | | | — | | | | | 147,277 | | | | | 245,952 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||||||||
| | | | RSUs | | | | | 3/1/2019 | | | | | — | | | | | — | | | | | — | | | | | �� | | | | | — | | | | | — | | | | | 3,812 | | | | | — | | | | | — | | | | | 200,016 | | | | | | RSUs | | | | | 3/1/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 9,986 | | | | | — | | | | | — | | | | | 750,048 | | | ||||||||||||||||||||||||
| | | | PSUs | | | | | 3/1/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,812 | | | | | 4,765 | | | | | — | | | | | — | | | | | — | | | | | 220,017 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||
Named Executive Officer | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | | | Equity incentive plan awards: Number of unearned shares, units or other rights that have not vested (#) | | | Equity incentive plan awards: Market or payout value of unearned shares, units or other rights that have not vested ($)(1) | | ||||||||||||||||||||||||
Randy Garutti | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 44,515 | | | | | | 1,894,113(2) | | | | | | 17,701 | | | | | | 753,178(3) | | |
Katherine Fogertey | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 27,184 | | | | | | 1,156,679(4) | | | | | | 8,851 | | | | | | 376,610(5) | | |
Zachary Koff | | | | | 15,100 | | | | | | — | | | | | | 21.00 | | | | | | 1/29/2025 | | | | | | 18,159 | | | | | | 772,666(6) | | | | | | 8,851 | | | | | | 376,610(7) | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||
Named Executive Officer | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | | | Equity incentive plan awards: Number of unearned shares, units or other rights that have not vested (#) | | | Equity incentive plan awards: Market or payout value of unearned shares, units or other rights that have not vested ($)(1) | | ||||||||||||||||||||||||
Randy Garutti | | | | | 398,000 | | | | | | 137,000(2) | | | | | | 21.00 | | | | | | 1/29/2025 | | | | | | 13,184 | | | | | | 790,381(3) | | | | | | 7,147 | | | | | | 428,463(9) | | |
Tara Comonte | | | | | 60 | | | | | | 3,090(4) | | | | | | 38.91 | | | | | | 6/12/2027 | | | | | | 51,404 | | | | | | 3,081,670(5) | | | | | | 4,765 | | | | | | 285,662(9) | | |
| | | | | 1,007 | | | | | | 4,029(6) | | | | | | 39.91 | | | | | | 3/22/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | | | | | | | 3,785(7) | | | | | | 54.36 | | | | | | 3/22/2029 | | | | | | — | | | | | | — | | | | | | | | | | | | | | |
Zachary Koff | | | | | 10,800 | | | | | | 21,200(2) | | | | | | 21.00 | | | | | | 1/29/2025 | | | | | | 6,561 | | | | | | 393,332(8) | | | | | | 3,812 | | | | | | 228,529(9) | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Named Executive Officer | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($) | | ||||||||||||
Randy Garutti | | | | | 150,000 | | | | | | 11,127,392 | | | | | | 7,236 | | | | | | 439,177 | | |
Tara Comonte | | | | | 2,000 | | | | | | 90,374 | | | | | | 12,017 | | | | | | 740,202 | | |
Zachary Koff | | | | | 35,000 | | | | | | 1,879,991 | | | | | | 3,123 | | | | | | 189,317 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Named Executive Officer | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($) | | ||||||||||||
Randy Garutti | | | | | — | | | | | | — | | | | | | 11,810 | | | | | | 822,931 | | |
Katherine Fogertey | | | | | — | | | | | | — | | | | | | 4,299 | | | | | | 199,732 | | |
Zachary Koff | | | | | 8,900 | | | | | | 161,330 | | | | | | 4,371 | | | | | | 308,654 | | |
Named Executive Officer | | | Named Executive Officer Contributions in Fiscal 2022 ($) | | | Registrant Contributions in 2022 ($) | | | Aggregate Earnings in Fiscal ($) | | | Aggregate Withdrawals/ Distributions ($) | | | Aggregate Balance at December 2022 ($) | | |||||||||||||||
Randy Garutti | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |
Zachary Koff | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | Potential Payments Upon Termination without Cause or Resignation with Good Reason(1) | | | |||||||||||||||||||||
| | Compensation Element | | | | Mr. Garutti(3) | | | | Ms. Comonte | | | | Mr. Koff | | | |||||||||
| | Accrued and Unpaid Salary and Other Benefits ($) | | | | | | 22,976 | | | | | | | 46,396 | | | | | | | 31,276 | | | |
| | Annual Bonus ($) | | | | | | 706,527 | | | | | | | 400,930 | | | | | | | 135,074 | | | |
| | Salary through Employment Term ($) | | | | | | 900,350 | | | | | | | 524,755 | | | | | | | 300,000 | | | |
| | Total Cash Payments ($) | | | | | | 1,629,852 | | | | | | | 971,800 | | | | | | | 466,350 | | | |
| | Acceleration of Unvested Equity Awards ($)(2) | | | | | | 5,912,329 | | | | | | | 607,342 | | | | | | | 866,747 | | | |
| | Company portion of 12 months of COBRA ($) | | | | | | 8,745 | | | | | | | 8,745 | | | | | | | 8,745 | | | |
| | TOTAL | | | | | | 7,550,927 | | | | | | | 1,587,888 | | | | | | | 1,341,842 | | | |
| | Potential Payments Upon Termination Due to Death or Disability(4) | | | |||||||||||||||||||||
| | Compensation Element | | | | Mr. Garutti | | | | Ms. Comonte | | | | Mr. Koff | | | |||||||||
| | Acceleration of Unvested Equity Awards ($)(5) | | | | | | 107.116 | | | | | | | 71,415 | | | | | | | 57,132 | | | |
| | TOTAL ($) | | | | | | 7,658,043 | | | | | | | 1,659,303 | | | | | | | 1,398,974 | | | |
| | Potential Payments Upon Termination without Cause or Resignation with Good Reason(1) | | | |||||||||||||||||||||
| | Compensation Element | | | | Mr. Garutti(2) | | | | Ms. Fogertey | | | | Mr. Koff | | | |||||||||
| | Accrued and Unpaid Salary and Other Benefits ($) | | | | | | 44,733 | | | | | | | 17,628 | | | | | | | 34,607 | | | |
| | Short-term Bonus ($) | | | | | | 187,500 | | | | | | | 59,063 | | | | | | | 37,500 | | | |
| | Salary through Employment Term ($) | | | | | | 1,125,000 | | | | | | | 118,125 | | | | | | | 375,000 | | | |
| | Total Cash Payments ($) | | | | | | 1,357,233 | | | | | | | 194,816 | | | | | | | 447,107 | | | |
| | Acceleration of Unvested Equity Awards ($)(3) | | | | | | 1,268,118 | | | | | | | — | | | | | | | 219,079 | | | |
| | COBRA ($) | | | | | | 25,863 | | | | | | | — | | | | | | | 26,135 | | | |
| | TOTAL | | | | | | 2,651,214 | | | | | | | 194,816 | | | | | | | 692,321 | | | |
| | Potential Payments Upon Termination Due to Death or Disability(4) | | | |||||||||||||||||||||
| | Compensation Element | | | | Mr. Garutti | | | | Ms. Fogertey | | | | Mr. Koff | | | |||||||||
| | Acceleration of Unvested Equity Awards ($)(3) | | | | | | 251,059 | | | | ��� | | | 125,537 | | | | | | | 125,537 | | | |
| | TOTAL ($) | | | | | | 2,902,273 | | | | | | | 320,353 | | | | | | | 817,858 | | | |
| | | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | | Weighted-average exercise price of outstanding options, warrants and rights (b) | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c)(2) | | | | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | | Weighted-average exercise price of outstanding options, warrants and rights (b) | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a) (c)(2) | | ||||||||||||||||||||||
Equity compensation plans approved by security holders(1) | | | | 890,267 | | | | $ | 21.44 | | | | | 3,338,374 | | | | | | 134,031 | | | | $ | 21.88 | | | | | 2,758,726 | | | ||||||
Equity compensation plans not approved by security holders | | | | | — | | | | | — | | | | | — | | | | | | | — | | | | | — | | | | | — | | | ||||
Total | | | | | 890,267 | | | | $ | 21.44 | | | | | 3,338,374 | | | | | | | 134,031 | | | | $ | 21.88 | | | | | 2,758,726 | | | ||||
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | Value of Initial Fixed $100 | | | | | | | | | | | | | | |||||||||
Fiscal Year | | | Summary Compensation Table for CEO | | | Compensation Actually Paid to CEO(1) | | | Average Summary Compensation Table Total for other NEOs(2) | | | Average Compensation Actually Paid to Other NEOs(2) | | | Total Shareholder Return(3) | | | Peer Group Total Shareholder Return(3) | | | Net Income (in millions) | | | Adjusted EBITDA (in millions)(4) | | ||||||||||||||||||||||||
2022 | | | | $ | 3,345,835 | | | | | $ | 1,435,005 | | | | | $ | 1,421,436 | | | | | $ | 407,308 | | | | | $ | 70.98 | | | | | $ | 97.44 | | | | | $ | (25.97) | | | | | $ | 83.97 | | |
2021 | | | | �� | 5,466,562 | | | | | | 4,472,993 | | | | | | 2,263,343 | | | | | | 1,389,545 | | | | | | 116.95 | | | | | | 122.76 | | | | | | (10.11) | | | | | | 67.53 | | |
2020 | | | | | 2,730,786 | | | | | | 3,480,311 | | | | | | 1,286,133 | | | | | | 2,057,727 | | | | | | 141.55 | | | | | | 126.09 | | | | | | (45.53) | | | | | | 28.8 | | |
Fiscal Year | | | Named Executive Officers | | | Summary Compensation Table Total | | | Grant Date Value of New Awards | | | Year End Value of New Awards | | | Change in Value of Unvested Awards | | | Change in Value of Vested Awards | | | Total Equity Compensation Actually Paid | | | Compensation Actually Paid | | |||||||||||||||||||||
2022 | | | CEO | | | | $ | 3,345,835 | | | | | $ | (1,500,022) | | | | | $ | 849,766 | | | | | $ | (1,255,404) | | | | | $ | (5,170) | | | | | $ | (410,808) | | | | | $ | 1,435,005 | | |
| | | Other NEOs | | | | | 1,421,436 | | | | | | (750,048) | | | | | | 424,904 | | | | | | (639,163) | | | | | | (49,821) | | | | | | (264,080) | | | | | | 407,308 | | |
2021 | | | CEO | | | | | 5,466,562 | | | | | | (3,549,992) | | | | | | 2,566,569 | | | | | | (257,369) | | | | | | 247,223 | | | | | | 2,556,423 | | | | | | 4,472,993 | | |
| | | Other NEOs | | | | | 2,263,343 | | | | | | (1,883,432) | | | | | | 1,416,528 | | | | | | (487,841) | | | | | | 80,947 | | | | | | 1,009,634 | | | | | | 1,389,545 | | |
2020 | | | CEO | | | | | 2,730,786 | | | | | | (1,500,013) | | | | | | 1,112,684 | | | | | | 330,282 | | | | | | 806,572 | | | | | | 2,249,538 | | | | | | 3,480,311 | | |
| | | Other NEOs | | | | | 1,286,133 | | | | | | (800,054) | | | | | | 908,268 | | | | | | 655,518 | | | | | | 7,862 | | | | | | 1,571,648 | | | | | | 2,057,727 | | |
| | Redeeming Owners of SSE Holdings | | | | Effective Dates of Redemption | | | | Shares of Class A Common Stock Issued upon Redemption | | |
| | | | | | | | 5,000 | | | ||
| | David A. Swinghamer | | | | March 29, 2022 | | | | 5,000 | | |
| | David A. Swinghamer | | | | April 25, 2022 | | | | 5,000 | | |
| | Laura Sloate | | | | June 25, 2022 | | | | 20,074 | | |
| | Richard Coraine | | | | June 25, 2022 | | | | 5,000 | | |
| | Richard Coraine 2012 Family Trust | | | | June 25, 2022 | | | | 10,000 | | |
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