Carrols Restaurant Group, Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)
March 12 2021 - 7:21AM
Carrols Restaurant Group, Inc. (“Carrols” or the “Company”)
(Nasdaq: TAST) today announced that as a material inducement to
enter into employment with the Company on February 15, 2021,
the Company granted an inducement award of 250,000 restricted
shares of the Company’s common stock (the “Inducement Award”) to
Carl Hauch, Vice President and Chief Operating Officer of the
Company on March 12, 2021, which vests as follows: (a) 34% of the
Inducement Award will vest on the first anniversary of the date of
grant, (b) 33% of the Inducement Award will vest on the second
anniversary of the date of grant and (c) 33% of the Inducement
Award will vest on the third anniversary of the date of grant.
Vesting of the shares of restricted stock is conditioned upon Mr.
Hauch's continued employment with the Company and is subject to
acceleration upon certain events. The Inducement Award was granted
in accordance with NASDAQ Listing Rule 5635(c)(4) and approved by
the Compensation Committee of the Company’s Board of Directors.
About the Company
Carrols is one of the largest restaurant
franchisees in the United States, and currently operates
approximately 1,075 restaurants. It is the largest BURGER KING®
franchisee in the United States, currently operating 1,010 BURGER
KING® restaurants and also operating 65 POPEYES® restaurants. It
has operated BURGER KING® restaurants since 1976. For more
information on Carrols, please visit the company's website at
www.carrols.com.
Forward-Looking Statements
Except for the historical information contained
in this news release, the matters addressed are forward-looking
statements. Forward-looking statements, written, oral or otherwise
made, represent Carrols' expectation or belief concerning future
events. Without limiting the foregoing, these statements are often
identified by the words "may", "might", "believes", "thinks",
"anticipates", "plans", "expects", "intends" or similar
expressions. In addition, expressions of our strategies,
intentions, plans or guidance are also forward-looking statements.
Such statements reflect management's current views with respect to
future events and are subject to risks and uncertainties, both
known and unknown. You are cautioned not to place undue reliance on
these forward-looking statements as there are important factors
that could cause actual results to differ materially from those in
forward-looking statements, many of which are beyond our control.
Investors are referred to the full discussion of risks and
uncertainties, including the impact of COVID-19 on Carrols’
business, as included in Carrols' filings with the Securities and
Exchange Commission.
Investor Relations:Raphael
Gross203-682-8253investorrelations@carrols.com
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