Business Context and Reporting Period
This Form 8-K Current Report was filed by JACK IN THE BOX INC on August 18, 2026. The filing discloses the appointment of Taylor Montgomery as President, effective September 14, 2026, as part of the company's CEO succession planning. Mr. Montgomery is expected to assume the role of Chief Executive Officer within the next twelve months.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change is the appointment of Taylor Montgomery as President. He previously served as Global Chief Brand Officer at Taco Bell (Yum! Brands, Inc.). This appointment is a strategic move to lead brand strategy, drive sustainable sales growth, and improve franchisee profitability.
Compensation and Management Commentary
The filing details the compensatory arrangements for Mr. Montgomery's new role:
- Base Salary: $700,000 annually.
- Annual Incentive: Target of 75% of base salary ($525,000) with a maximum of 150% ($1,050,000). A minimum payment of $150,000 is guaranteed for fiscal year 2027.
- Sign-on Bonus: $220,000, payable by November 1, 2026, subject to a clawback provision if he resigns or is terminated for misconduct before October 1, 2027.
- Equity Awards:
- One-time inducement grant of Restricted Stock Units (RSUs) valued at $1.5 million, vesting over three years.
- Fiscal year 2027 Performance Share Unit award with a target value of $500,000.
- Beginning in fiscal year 2028, annual long-term incentive awards with an aggregate target value of $1.0 million.
Mr. Montgomery will also participate in the company's executive severance plan and benefits assurance program on terms consistent with other executive officers.
Investor Verification Checklist
- Verify the vesting schedule and performance conditions for the $1.5 million RSU inducement grant and the $500,000 performance share unit award.
- Review the specific terms of the sign-on bonus clawback agreement regarding the October 1, 2027, deadline.
- Confirm the timeline for Mr. Montgomery's transition to Chief Executive Officer and his subsequent appointment to the Board of Directors.
- Examine the full text of the Offer Letter (Exhibit 10.1) and Sign-On Bonus Agreement (Exhibit 10.2) for additional covenants or restrictions.