Form 4: BJ's Restaurants EVP Sells Shares After Option Exercise

Brian S. Krakower, EVP & Chief Information Officer of BJ's Restaurants, exercised stock options and subsequently sold a portion of his common stock holdings.

Summary

• Brian S. Krakower, EVP & Chief Information Officer of BJ's Restaurants, Inc. (BJRI), reported transactions on December 11, 2025.
• Krakower exercised non-qualified stock options to acquire a total of 7,847 shares of common stock.
• These options were exercised at prices of $32.27 for 3,836 shares, $31.34 for 2,392 shares, and $31.86 for 1,619 shares.
• Concurrently, Krakower sold a total of 8,017 shares of common stock.
• The sales occurred at prices of $39.61 for 7,847 shares and $39.71 for 170 shares.
• Following these transactions, Krakower beneficially owns 4,409 shares of common stock, which are all unvested Restricted Stock Units.

Sentiment

Score: 4

Explanation: The executive exercised options at lower prices and sold shares at higher prices, indicating a profitable transaction. However, the net sale of shares, including all exercised options and an additional 170 shares, reduces insider ownership, which can be viewed with slight caution by investors.

Positives

• The exercise of stock options by an executive indicates a realization of value and potential confidence in the company's stock performance leading up to the exercise.
• The executive realized a profit on the exercised options, as the sale prices ($39.61, $39.71) were higher than the exercise prices ($32.27, $31.34, $31.86).

Negatives

• The sale of 8,017 shares by a key executive, including all shares acquired through option exercise and an additional 170 shares, represents a reduction in direct insider ownership.
• Insider selling can sometimes be interpreted by the market as a lack of confidence in future stock appreciation, although it is often for personal financial planning or tax purposes.

Future Outlook

This Form 4 filing reports past insider transactions and does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

Insider transactions, such as those reported in a Form 4, are specific to the individual executive and the company's stock performance. While they can reflect an executive's personal financial planning or perception of the company's value, they do not inherently indicate broader industry trends or competitive shifts within the restaurant sector.

Stakeholder Impact

• Shareholders: The sale of shares by a key executive could be interpreted as a signal, potentially influencing investor sentiment. The reduction in direct insider ownership might be viewed negatively by some.
• Employees: No direct impact on employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Key Dates

Keywords

BJ's Restaurants, BJRI, Insider Trading, Form 4, Stock Options, Executive Compensation, Brian S. Krakower, Share Sale, Restricted Stock Units