BJ’s Restaurants (NASDAQ: BJRI) hires Ashley Van as principal accounting officer
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
BJ’s Restaurants, Inc. appointed Ashley A. Van as Senior Vice President and Principal Accounting Officer effective May 11, 2026, under a new letter agreement outlining her pay and severance terms. Van will receive a base salary of $340,000, a target annual bonus equal to at least 55% of salary, and a $50,000 signing bonus paid in two installments over her first year.
Subject to Compensation Committee approval, she will also receive a new-hire equity award with a grant date fair value of $300,000, vesting in three annual installments beginning July 15, 2027, split equally between restricted stock units and non-qualified stock options. The company expects to grant her 2027 long-term equity incentives with a target value of $180,000 under its 2024 Equity Incentive Plan. If BJ’s terminates her without cause or she resigns for Good Reason, she is eligible for severance of six to twelve months of salary plus employer COBRA contributions. Effective May 11, 2026, CFO J. Todd Wilson will cease serving as Principal Accounting Officer.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Base salary: $340,000 per year
Bonus target: 55% of base salary
Bonus multiplier range: 75% to 125%
+4 more
7 metrics
Base salary
$340,000 per year
Compensation for Senior Vice President and Principal Accounting Officer role
Bonus target
55% of base salary
Annual bonus opportunity target tied to individual performance
Bonus multiplier range
75% to 125%
Multiplier applied to bonus opportunity based on performance
Signing bonus
$50,000
Paid in two $25,000 installments over first year of employment
New-hire equity grant
$300,000 grant date fair value
Initial equity award split between RSUs and stock options, vesting from July 15, 2027
2027 LTIP target
$180,000
Target grant date fair value of 2027 long-term equity incentive
Severance duration
6 to 12 months of salary
For termination without cause or resignation for Good Reason
Key Terms
Principal Accounting Officer, restricted stock units, non-qualified stock options, performance units, +2 more
6 terms
Principal Accounting Officer financial
"appointment of Ashley A. Van as the Company’s Senior Vice President and Principal Accounting Officer"
The Principal Accounting Officer is the person responsible for making sure a company's financial records are accurate and follow the rules. They play a key role in preparing financial reports that show how well the company is doing. This helps investors, managers, and regulators trust the company's financial information.
restricted stock units financial
"divided equally between restricted stock units and non-qualified stock options"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
non-qualified stock options financial
"divided equally between restricted stock units and non-qualified stock options"
Non-qualified stock options are a type of employee benefit that gives individuals the right to buy company shares at a set price, usually lower than the market value, within a certain period. Unlike other options that may have special tax advantages, these options are taxed as income when exercised, which can affect how much money the employee or investor ultimately gains. They are important because they can influence company compensation strategies and impact the financial outcomes for employees and investors.
performance units financial
"will consist of a combination of performance units, restricted stock units and/or non-qualified stock options"
Performance units are company awards that become valuable only if specified business targets are met; they typically convert into shares or cash when performance goals are achieved. Think of them like a conditional bonus that turns into stock only if the company hits agreed milestones, so they align managers’ incentives with shareholders’ interests and can affect future share count, executive pay expense, and investor returns.
COBRA financial
"the employer portion of her COBRA payments for the severance period"
COBRA is a U.S. federal law that lets employees and their dependents temporarily keep employer-sponsored health insurance after job loss, reduction in hours, or other qualifying events by paying the premiums themselves. Investors should care because offering COBRA can affect a company’s cash flow, administrative costs and legal disclosures when workforce changes occur—similar to a former club member paying to keep their membership active after leaving the club.
Equity Incentive Plan financial
"under the Company’s 2024 Equity Incentive Plan, as amended"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
FAQ
What executive change did BJRI disclose in this 8-K filing?
BJ’s Restaurants appointed Ashley A. Van as Senior Vice President and Principal Accounting Officer, effective May 11, 2026. On the same date, CFO J. Todd Wilson will no longer serve as the company’s Principal Accounting Officer.
What is Ashley Van’s base salary at BJRI under the new agreement?
Ashley Van’s base salary is set at $340,000 per year. This fixed cash compensation anchors her pay package, which is supplemented by an annual bonus opportunity, a signing bonus, and equity awards linked to company and individual performance.
How is Ashley Van’s bonus opportunity structured at BJRI?
Her annual bonus target is at least 55% of base salary, with a multiplier currently ranging from 75% to 125%. Actual payouts depend on individual impact and performance, aligning a meaningful portion of her compensation with annual results.
What signing bonus and equity grant will Ashley Van receive from BJRI?
She will receive a $50,000 signing bonus, paid half after 30 days and half after one year of service. In addition, subject to board committee approval, she will get a $300,000 new-hire equity grant split between restricted stock units and stock options.
How and when will Ashley Van’s new-hire equity grant vest at BJRI?
The $300,000 new-hire equity grant will vest in three equal annual installments beginning July 15, 2027. It is divided equally between restricted stock units and non-qualified stock options, encouraging multi-year retention and alignment with shareholder value.
What severance protection does BJRI provide to Ashley Van?
If terminated without cause or she resigns for Good Reason, she may receive six months of salary plus one additional month per year of service, up to twelve months. BJ’s will also cover the employer portion of COBRA health premiums during the severance period.
What equity awards is BJRI targeting for Ashley Van in 2027?
For 2027, BJ’s agreed that her annual long-term equity incentive grant will target a $180,000 grant date fair value. The award may include performance units, restricted stock units, and/or non-qualified stock options under the 2024 Equity Incentive Plan.