Business Context and Reporting Period
This Form 8-K Current Report was filed by BJ's Restaurants, Inc. on April 7, 2026, with the earliest event reported on the same date. The filing discloses executive personnel changes, specifically the appointment of a new Principal Accounting Officer and the departure of the incumbent from that specific role.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation and appointment terms.
Material Changes
The primary material change reported is the leadership transition within the finance function:
- Appointment: Ashley A. Van is appointed as Senior Vice President and Principal Accounting Officer, effective May 11, 2026.
- Departure: J. Todd Wilson, currently the Chief Financial Officer and Principal Financial Officer, will cease serving as the Principal Accounting Officer effective May 11, 2026.
Guidance, Outlook, and Compensation Details
The filing details the compensatory arrangements for the new Principal Accounting Officer, Ashley A. Van, under a letter agreement dated April 7, 2026:
- Base Salary: $340,000 per year.
- Annual Bonus: Target of no less than 55% of base salary, with a multiplier range of 75% to 125% based on performance.
- Signing Bonus: $50,000 total, paid in two installments ($25,000 after 30 days and $25,000 after one year of service).
- Initial Equity Grant: Grant date fair market value of $300,000, split equally between restricted stock units and non-qualified stock options. Vesting begins July 15, 2027, in three annual installments.
- Future Equity: Target value of $180,000 for the 2027 annual long-term equity incentive grant.
- Severance: In the event of termination without cause or resignation for Good Reason, Ms. Van is eligible for 6 months of base salary plus 1 additional month for every year of service, up to a maximum of 12 months, plus COBRA coverage.
The filing does not provide specific guidance, outlook, or risk factors beyond the standard terms of the employment agreement.
Investor Verification Checklist
- Verify the effective date of the Principal Accounting Officer transition (May 11, 2026).
- Confirm the total initial compensation package value ($340,000 base + $50,000 signing bonus + $300,000 equity).
- Review the full text of the Letter Agreement (Exhibit 10.1) for specific definitions of "Good Reason" and performance metrics.
- Monitor future filings for the vesting schedule execution of the initial equity grant starting July 15, 2027.