Bloomin' Brands Grants CEO $2M Performance-Based Retention PSUs

summarizeSummary

Bloomin' Brands' Compensation Committee approved a $2 million performance stock unit retention grant for CEO Michael Spanos, vesting over three years based on sales and EBITDA targets.

check_boxKey Events

• CEO Retention Grant Approved

  The Compensation Committee approved a special retention grant for CEO Michael Spanos on February 10, 2026.

• Performance Stock Units Awarded

  Mr. Spanos will receive performance stock units with a target grant date fair value of $2,000,000.

• Performance-Based Vesting

  The PSUs vest on the three-year anniversary of the February 27, 2026 grant date, contingent on achieving comparable sales and Adjusted EBITDA performance metrics, with payout ranging from 1% to 200% of target.

• Continued Vesting Clause

  The grant agreement includes a provision for continued vesting if Mr. Spanos's employment is terminated by the company without cause, subject to a one-year non-competition agreement and other restrictive covenants.

auto_awesomeAnalysis

Bloomin' Brands has approved a significant retention grant for CEO Michael Spanos, consisting of $2,000,000 in performance stock units. This grant is designed to incentivize long-term leadership and align executive compensation with company performance, as vesting is tied to comparable sales and Adjusted EBITDA metrics over a three-year period. The provision for continued vesting upon termination without cause, subject to restrictive covenants, further emphasizes the company's commitment to retaining Mr. Spanos. This move signals a focus on leadership stability and strategic performance.