El Pollo Loco 2015 Annual Report Download - page 105

Table of Contents
ITEM 11. EXECUTIVE COMPENSATION
We are providing compensation disclosure that satisfies the requirements applicable to emerging growth companies, as defined in the JOBS Act.
As an emerging growth company, we have opted to comply with the executive compensation rules applicable to “smaller reporting companies,”
as such term is defined under the Securities Act, which require compensation disclosure for our principal executive officer and the two most
highly compensated executive officers other than our principal executive officer. The table below sets forth the annual compensation earned in
fiscal 2013 and 2014 by our principal executive officer and our next two most highly compensated executive officers (our “named executive
officers” or “NEOs”).
Summary Compensation Table
Employment Agreements
Each of our NEOs is a party to an employment agreement. The employment agreements are substantially similar. We entered into an
employment agreement in 2006 with Mr. Sather (which was amended and restated in 2011), in 2011 with Mr. Valle and in 2013 with
Mr. Roberts. The employment agreements provide that Messrs. Sather, Roberts and Valle will receive salaries equal to $350,000, $300,000, and
$250,000, respectively, which may be adjusted in our sole discretion (and, with respect to all NEOs, has been adjusted up as shown in “
Summary
Compensation Table”) and also provide that we will reimburse Mr. Roberts for certain relocation expenses. Each
101
Name and Principal Position
Year
Salary
Option
Awards
(3)
Non
-
Equity
Incentive Plan
Compensation
(4)
All Other
Compensation
(5)
Total
Stephen J. Sather
President & Chief Executive Officer
2014
2013
$
$
466,558
436,367
$
$
—
—
$
$
365,850
349,083
$
$
29,954
41,797
$
$
862,362
827,447
Laurance Roberts
(1)
Chief Financial Officer
2014
2013
$
$
322,830
138,795
$
$
—
427,837
$
$
249,998
112,718
$
$
159,689
12,717
$
$
732,517
692,067
Ed Valle
(2)
Chief Marketing Officer
2014
2013
$
$
317,350
269,565
$
$
—
—
$
$
243,900
216,100
$
$
25,036
36,928
$
$
586,286
522,593
(1)
Mr. Roberts commenced employment as our Chief Financial Officer on July 15, 2013.
(2)
Mr. Valle commenced employment as our Chief Marketing Officer on October 24, 2011.
(3) Represents the grant date fair value of options awarded in fiscal 2013 and 2014, computed in accordance with Financial Accounting
Standards Board Accounting Standards Codification Topic 718 (FASB ASC Topic 718). For a summary of the assumptions made in the
valuation of these awards, see Note 12 to our consolidated financial statements included elsewhere in this report.
(4) Represents performance-based bonuses earned by our NEOs in respect of our performance in fiscal years 2013 and 2014. The material
terms of the non-equity incentive plan compensation paid to our named executive officers in our last completed fiscal year are described
below in the section entitled
“
—
Elements of Compensation 2014 Bonus Arrangements.
”
(5)
For Messrs. Sather, Roberts and Valle, includes the following perquisites and benefits:
•
Gas Card Benefits: Messrs. Sather, Roberts and Valle had amounts of $4,880, $2,662, and $2,782, respectively, in fiscal 2014.
• 401(k) Plan Matching Contribution: Messrs. Sather, Roberts and Valle had amounts of $10,046, $7,481, and $7,225, respectively, in
fiscal 2014.
•
Auto Allowance: Messrs. Sather, Roberts and Valle had amounts of $7,200, $7,200, and $7,200, respectively, in fiscal 2014.
•
Relocation Expenses: Mr. Roberts received a one
-
time reimbursement for relocation expenses of $134,517.
• Other Benefits (including, health and welfare benefits): Messrs. Sather, Roberts and Valle had amounts of $7,828, $7,828, and
$7,828, respectively, in fiscal 2014.