Bj’s Restaurants (BJRI) has shared an update.
BJ’s Restaurants, Inc. has struck a strategic deal with PW Partners, LLC, paving the way for collaboration on enhancing the restaurant chain’s cost efficiencies. PW Partners will cease its push to nominate board directors or present a shareholder proposal, and in return, the company will reward PW Partners’ CEO with restricted stock units worth $175,000. This partnership, governed by a Cooperation Agreement, involves voting alignment with the board’s recommendations, a temporary standstill on stock ownership increase, and a non-disparagement clause, all while ensuring PW Partners’ expenses capped at $75,000 are covered.
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