Form 4: Jack in the Box SVP Granted Restricted Stock Units

Steven Piano, SVP and Chief People Officer at Jack in the Box, received a grant of 14,431 restricted stock units.

Summary

• Steven Piano, SVP, Chief People Officer of Jack in the Box Inc. (JACK), acquired 14,431 shares of common stock in the form of restricted stock units (RSUs).
• The transaction occurred on December 10, 2025, with a price of $0.00 per unit, indicating a grant.
• Following this transaction, Mr. Piano beneficially owns 41,484 shares directly.
• These RSUs are scheduled to vest in three equal installments, with the first installment vesting one year from the grant date.
• After-tax net shares from the vesting are subject to a 50% holding requirement until the executive meets their multiple of salary stock ownership requirement.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: Slightly positive as it represents a standard executive compensation event, aligning management's interests with shareholders through equity grants and retention incentives.

Positives

• The grant of 14,431 restricted stock units aligns executive interests with shareholder value.
• The multi-year vesting schedule and holding requirement incentivize long-term performance and retention of a key executive.

Future Outlook

The grant of restricted stock units with a multi-year vesting schedule indicates a strategic move to retain key executive talent and align their long-term interests with the company's performance.

Industry Context

Equity compensation, particularly through restricted stock units, is a standard practice across various industries to attract, retain, and incentivize executive talent. This grant aligns Jack in the Box with common corporate governance and compensation strategies aimed at fostering long-term executive commitment and performance.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) for executive compensation is a widely adopted practice, comparable to compensation structures at peer companies in the quick-service restaurant (QSR) industry and broader corporate landscape.
• The multi-year vesting schedule (three equal installments) is typical for executive equity grants, similar to programs at companies like McDonald's, Yum! Brands, and Restaurant Brands International, designed to promote long-term retention and performance alignment.
• The 50% holding requirement for after-tax net shares until stock ownership requirements are met is a common corporate governance feature, reinforcing executive commitment and aligning their financial interests with shareholders, mirroring practices seen in well-governed public companies.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant of equity to a key executive aims to align management's interests with shareholder value creation over the long term.
• Employees (Executive): Steven Piano's compensation package is enhanced, providing a strong incentive for continued performance and retention.

Next Steps

• Vesting of the first installment of 4,810.33 restricted stock units on December 10, 2026.
• Subsequent vesting of the remaining restricted stock units in two equal annual installments thereafter.
• Steven Piano will be subject to a 50% holding requirement on after-tax net shares until meeting the multiple of salary stock ownership requirement.

Key Dates

Keywords

Jack in the Box, JACK, Steven Piano, Form 4, SEC filing, insider transaction, restricted stock units, RSUs, equity compensation, executive compensation, Rule 10b5-1