RCI Hospitality sets $650K pay for interim CEO
RCI HOSPITALITY HOLDINGS, INC.
Rhea-AI Filing Summary
RCI HOSPITALITY HOLDINGS, INC. (RICK) approved a new one-year employment agreement with Interim President and Chief Executive Officer Travis Reese, effective September 1, 2026. The agreement provides Mr. Reese with an annual salary of $650,000, bonus eligibility, expense reimbursement, health benefits, and participation in the company’s benefit plans.
He also receives use of a company-owned automobile, access to company-owned aircraft subject to the corporate aircraft policy, and two weeks of paid vacation annually. The agreement includes a confidentiality provision and restricts Mr. Reese from competing with the company for a period following termination.
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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, or exhibit attachments filed with this report.
Key Figures
Annual salary: $650,000
Employment term: 1 year
Paid vacation: 2 weeks annually
+1 more
4 metrics
Annual salary
$650,000
Base salary for Interim President and Chief Executive Officer Travis Reese under the agreement effective September 1, 2026
Employment term
1 year
Length of the employment agreement with Interim CEO Travis Reese
Paid vacation
2 weeks annually
Annual paid vacation provided to Travis Reese under the agreement
Effective date
September 1, 2026
Effective date of Travis Reese’s employment agreement as Interim CEO
Key Terms
employment agreement, confidentiality provision, non-compete, corporate aircraft policy, +1 more
5 terms
employment agreement financial
"we entered into a one-year employment agreement with Travis Reese"
confidentiality provision regulatory
"Mr. Reese is bound to a confidentiality provision and cannot compete"
non-compete regulatory
"cannot compete with us for a period upon termination of the agreement"
A non-compete is a contract clause that prevents an employee, executive, or seller from working for or starting a rival business for a set time and area after leaving a company. It matters to investors because it protects the value of intellectual property, customer relationships and key personnel—like putting a temporary fence around a company’s customers and know‑how—while also creating legal and operational constraints that can affect talent mobility and deal attractiveness.
corporate aircraft policy other
"access to company owned aircraft (subject to terms and conditions of our corporate aircraft policy)"
Inline XBRL technical
"Cover Page Interactive Data File (embedded within the Inline XBRL document)"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
FAQ
What did RCI Hospitality (RICK) announce regarding Travis Reese’s role?
RCI Hospitality entered into a one-year employment agreement with Travis Reese as Interim President and Chief Executive Officer, effective September 1, 2026, formalizing his compensation and employment terms.
What is Travis Reese’s annual salary under the new RICK agreement?
Under the agreement, Travis Reese will receive an annual salary of $650,000. The filing also states he is eligible for bonuses and other standard executive benefits.
What benefits does RICK provide to Interim CEO Travis Reese?
The agreement provides bonus eligibility, expense reimbursement, health benefits, participation in company benefit plans, use of a company-owned automobile, access to company-owned aircraft subject to corporate aircraft policy, and two weeks’ paid vacation annually.
Does Travis Reese’s employment agreement with RICK include restrictive covenants?
Yes. The agreement includes a confidentiality provision and provides that Travis Reese cannot compete with the company for a period following termination of the agreement.
When does the new employment agreement for RICK’s Interim CEO take effect and how long does it last?
The employment agreement with Interim CEO Travis Reese is effective September 1, 2026 and has a one-year term, as disclosed in the filing.
Is the full employment agreement for Travis Reese available to investors?
Yes. A copy of the Employment Agreement of Travis Reese is included as Exhibit 10.1 to the report.
AI-generated analysis. How Rhea-AI works. Not financial advice.
