Form 4: Brinker International Legal Officer Corrects Historical Share Ownership Data Following Gift Transaction

Daniel S. Fuller, SVP and Chief Legal Officer of Brinker International, Inc., reported a gift of 500 common shares and corrected previously overstated beneficial ownership figures due to software errors.

Summary

• Daniel S. Fuller, SVP, Chief Legal Officer of Brinker International, Inc. (EAT), reported a transaction on June 3, 2025.
• The transaction involved the disposition of 500 shares of Common Stock via a gift (Transaction Code 'G') at a price of $0.
• Following this transaction, Mr. Fuller directly beneficially owns 32,755 shares of Common Stock.
• This reported amount of 32,755 shares corrects historical overstatements on previous Forms 4, attributed to reporting software errors.
• Additionally, Mr. Fuller indirectly holds 52.301 units in the Brinker Common Stock Fund under the Brinker International, Inc. 401(k) Savings Plan as of June 3, 2025.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While there's a disposition of shares, the primary notable aspect is the correction of historical reporting errors, which enhances transparency and indicates improved internal data management, a positive for corporate governance.

Positives

• The filing explicitly corrects historical overstatements of beneficially owned securities, indicating improved data accuracy and transparency in reporting.
• The identification and rectification of reporting software errors suggest a proactive approach to internal control and compliance.

Negatives

• The transaction involves a disposition (gift) of 500 shares by a key officer, which reduces their direct holdings in the company.

Management Comments

• "The amount of securities beneficially owned following the reported transaction as provided on this form corrects historical overstatements reported on previous Forms 4 due to reporting software errors."
• "Reflects the number of units held in the Brinker Common Stock Fund under the Brinker International, Inc. 401(k) Savings Plan as of June 3, 2025."

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and correction of historical data, which does not directly reflect broader industry trends or competitive dynamics. It primarily pertains to internal corporate compliance and individual executive holdings.

Corporate Governance

Stakeholder Impact

• Shareholders: Provides updated and corrected information regarding insider ownership, enhancing transparency and accuracy of public disclosures.
• Regulatory Authorities: Demonstrates compliance with SEC reporting requirements and proactive correction of past inaccuracies.

Key Dates

Keywords

Brinker International, EAT, SEC Form 4, Insider Transaction, Beneficial Ownership, Common Stock, Gift, Daniel S. Fuller, Chief Legal Officer, Corporate Governance, Reporting Errors