4/A: BJ's Restaurants Inc. Executive Reports Changes in Beneficial Ownership

Alex Puchner, Sr. Vice President of Brewing Operations at BJ's Restaurants Inc., reports changes in beneficial ownership of common stock and stock options.

Summary

• On January 15, 2025, Alex Puchner, Sr. Vice President of Brewing Operations at BJ's Restaurants Inc., filed an amendment to a previous Form 4.
• The amendment reflects adjustments to holdings of common stock due to the vesting of Restricted Stock Units (RSUs) and shares withheld for tax obligations.
• Puchner acquired 1,342 shares through RSU awards and an additional 2,201 shares due to exceeding performance share metrics.
• Shares were also withheld to satisfy tax requirements, resulting in the disposal of 211, 904, 322, and 255 shares at a price of $34.28 each.
• Puchner also acquired 2,227 non-qualified stock options, vesting in installments starting January 15, 2026.
• Following these transactions, Puchner directly owns 14,162 shares of common stock, including 3,532 unvested RSUs, and indirectly owns 2,891 shares through a trust.
• The reported transactions include the acquisition and disposal of common stock, as well as the acquisition of derivative securities (stock options).

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and adjustments based on performance, indicating a neutral to slightly positive sentiment.

Positives

• The acquisition of shares through RSU awards and exceeding performance metrics indicates positive performance.
• The vesting of stock options provides an incentive for future performance.

Future Outlook

The document indicates future vesting of Restricted Stock Units and stock options, suggesting continued alignment of executive interests with company performance.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their holdings and transactions in the company's stock. It is common for executives to receive stock options and RSUs as part of their compensation packages.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, bonus, stock options, and restricted stock units.
• The vesting schedules and performance-based components are typical in the restaurant industry to incentivize long-term growth and profitability.
• Comparable companies like Darden Restaurants (DRI) and Texas Roadhouse (TXRH) also utilize similar equity-based compensation strategies for their executives.

Stakeholder Impact

• The transactions reflect executive compensation and alignment with shareholder interests.
• The vesting of RSUs and stock options can incentivize management to improve company performance, benefiting shareholders.

Key Dates