El Pollo Loco names Damon Thomas COO at $425K salary

The compensation package includes a 2026 minimum bonus and a one-time equity award tied to continued employment and performance conditions.

Rhea-AI Filing Summary

El Pollo Loco Holdings, Inc. appointed Damon Thomas Chief Operating Officer effective September 21, 2026; he will report directly to Chief Executive Officer Elizabeth “Liz” Williams. Thomas previously served as Senior Vice President, Operations at Shake Shack Enterprises from August 2023 to September 2026.

His offer letter sets a $425,000 annual base salary, a target cash bonus opportunity equal to 75% of salary and a minimum annual bonus of $225,000 for 2026. It also provides a $25,000 sign-on bonus, a one-time restricted-stock and performance-share-unit grant valued at approximately $500,000, and annual equity awards valued at approximately $400,000 beginning in 2027. Annual awards are expected to vest over three years at 33% annually; the one-time grant is expected to vest over three years, subject to continued employment and applicable performance conditions. Severance generally provides 12 months of continued base salary after termination without cause or resignation for good reason, subject to offer-letter compliance and signing and not revoking a separation agreement and release of claims.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

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.

Key Figures

Annual base salary: $425,000 Target cash bonus opportunity: 75% of annual base salary Minimum annual bonus: $225,000 +5 more

8 metrics

Annual base salary $425,000 Damon Thomas's offer letter

Target cash bonus opportunity 75% of annual base salary Based on applicable individual goals and performance metrics

Minimum annual bonus $225,000 For 2026

Sign-on bonus $25,000 Under Thomas's offer letter

One-time equity grant Approximately $500,000 Restricted stock and performance share units

Annual equity awards Approximately $400,000 Beginning in 2027

Annual award vesting rate 33% annually over a 3-year term Expected vesting schedule

Continued base salary severance Generally 12 months Subject to the offer letter's conditions

Key Terms

annual target cash bonus opportunity, time-based restricted stock, performance share units, grant date value, +1 more

5 terms

annual target cash bonus opportunity financial

"an annual target cash bonus opportunity equal to 75% of his annual base salary"

time-based restricted stock financial

"a one-time grant of time-based restricted stock"

Time-based restricted stock are company shares granted to employees or executives that become fully owned and transferable only after the recipient stays with the company for specified time periods. Think of it like receiving a wrapped gift that opens a little each year; the gradual unlocking helps keep employees motivated and tied to long-term performance. Investors watch these grants because they can dilute existing shares when they vest and signal how management is being rewarded and incentivized.

performance share units financial

"time-based restricted stock and performance share units"

Performance share units are a type of company stock award given to employees that depend on the company meeting specific goals or targets. If these goals are achieved, the employee receives shares or the value of shares; if not, they may receive little or no compensation. This aligns employees’ interests with the company's success and encourages performance that benefits investors.

grant date value financial

"with a grant date value of approximately $500,000"

severance benefits financial

"entitled to receive certain severance benefits"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How is LOCO COO Damon Thomas's target cash bonus determined?

Thomas's target cash bonus opportunity equals 75% of his annual base salary and is based on applicable individual goals and performance metrics determined by the Board or its Compensation Committee.

What severance benefits does LOCO's new COO receive?

Severance generally provides 12 months of continued base salary if the company terminates Thomas without cause or he resigns for good reason. He must comply with the offer letter and sign and not revoke a separation agreement and release of claims.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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true0001606366false0001606366us-gaap:CommonStockMember2026-09-212026-09-210001606366loco:RightsToPurchaseSeriesPreferredStockParValue0.01PerShareMember2026-09-212026-09-2100016063662026-09-212026-09-21

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

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Date of Report (Date of earliest event reported): September 21, 2026

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EL POLLO LOCO HOLDINGS, INC.

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(Exact name of registrant as specified in its charter)

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Delaware	001-36556	20-3563182
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

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575 Anton Boulevard, Suite 1100, Costa Mesa, California	92626
(Address of principal executive offices)	(Zip Code)

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Registrant’s telephone number, including area code: (714) 599-5000

N/A

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(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	LOCO	The Nasdaq Stock Market LLC
Rights to Purchase Series A Preferred Stock, par value $0.01 per share	​	The Nasdaq Stock Market LLC

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b- 2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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On September 21, 2026, El Pollo Loco Holdings, Inc. (the “Company”) announced the appointment of Damon Thomas as Chief Operating Officer of the Company, effective September 21, 2026.  He will report directly to Chief Executive Officer Elizabeth “Liz” Williams.

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Mr. Thomas, age 49, previously served as Senior Vice President, Operations at Shake Shack Enterprises, where he worked from August 2023 to September 2026. From June 2022 to August 2023, Mr. Thomas served as Vice President, Operations at Yoshinoya America.  Prior to that, he held senior operations roles at multiple food and restaurant companies, including Quest Food Management Services and Raising Cane’s Chicken Fingers.

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In connection with this appointment, Mr. Thomas entered into an offer letter agreement with the Company setting forth the terms of his employment (the “Offer Letter”). The Offer Letter provides that Mr. Thomas will receive an annual base salary of $425,000 and will have an annual target cash bonus opportunity equal to 75% of his annual base salary based on applicable individual goals and performance metrics as determined by the Board of Directors (the “Board”) of the Company or the Compensation Committee of the Board (the “Compensation Committee”). Mr. Thomas will receive a minimum annual bonus of $225,000 for 2026. Beginning in 2027, Mr. Thomas will be eligible to receive an annual equity award with a grant date value of approximately $400,000, which award(s) are expected to vest over a 3-year term at a rate of 33% annually. The Offer Letter further provides that Mr. Thomas will be granted a one-time grant of time-based restricted stock and performance share units in connection with his commencement of employment with a grant date value of approximately $500,000, expected to vest over three years following the date of grant, subject to continued employment and the attainment of the applicable performance conditions. The Offer Letter also states that Mr. Thomas will receive a sign-on bonus of $25,000. He will also be entitled to receive certain severance benefits (generally 12 months of continued base salary payments) in the event his employment is terminated by the Company without cause or if he resigns for good reason, provided he remains in compliance with the terms of the Offer Letter, and conditioned upon Mr. Thomas signing and not revoking a separation agreement and release of claims.

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There are no arrangements or understandings between Mr. Thomas and any other persons pursuant to which he was selected as the Company’s Chief Operating Officer. There are also no family relationships between Mr. Thomas and any directors or executive officers of the Company, and Mr. Thomas is not a party to any transaction that would require disclosure pursuant to Item 404(a) of Regulation S-K. We also anticipate that Mr. Thomas will enter into the Company’s standard form of indemnification agreement between the Company and its directors and executive officers.

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The preceding summary of the Offer Letter is qualified in its entirety by reference to the complete terms and conditions of the Offer Letter, which will be filed as an exhibit to the Company’s next quarterly Form 10-Q.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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El Pollo Loco Holdings, Inc.

(Registrant)

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September 25, 2026

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Interim Chief Executive Officer and

/s/ Ira Fils

Ira Fils

Chief Financial Officer

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Filing Exhibits & Attachments

4 documents

Other Documents

• EX-101 EX-101.SCH 4.0 KB
• EX-101 EX-101.DEF 14.2 KB
• EX-101 EX-101.LAB 25.1 KB
• EX-101 EX-101.PRE 16.2 KB