El Pollo Loco 2015 Annual Report Download - page 108

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Table of Contents
Outstanding Equity Awards at Fiscal Year End Table
The following table sets forth outstanding equity option awards as of December 31, 2014:
Director Compensation
The following table provides compensation information for fiscal 2014 for each of our independent directors. Directors who are not independent
do not receive compensation for their services as directors.
Each of our two independent directors, Messrs. Borgese and Ammerman, receive an annual cash retainer fee of $40,000, which is paid quarterly.
In addition, Messrs. Borgese and Ammerman each received a grant of 3,333 restricted shares under the 2014 Plan in connection with our IPO,
equivalent to $50,000 per capita divided by our public offering price. These grants vest based on continued service over three years. Based on
our share price when the grants were consummated, we expect to incur approximately $230,000 of stock-based compensation expense as the
grants vest.
In accordance with our director compensation program, Messrs. Borgese and Ammerman each will receive an annual grant of restricted shares
with grant date value of $50,000.
104
Name
Number of Securities
Underlying Unexercised
Options
Equity Incentive
Plan Awards;
Number of
Securities
Underlying
Unexercised
Unearned Options
Option
Exercise
Price
Option
Expiration
Date
Exercisable
Unexercisable
Stephen J. Sather
(1)
244,426
70,651
—
$
2.62
April 16, 2022
989,120
141,302
—
$
5.84
April 16, 2022
Laurance Roberts
(2)
14,433
36,930
24,620
$
4.09
July 15, 2023
73,863
73,862
49,242
$
5.84
July 15, 2023
Ed Valle
(1)
74,933
18,733
—
$
2.62
April 15, 2022
194,827
37,466
—
$
5.84
April 15, 2022
(1) 50% of the option award vests based upon continued employment (“Time-Based Options”) and the remaining 50% shall vest based upon
the attainment of certain performance goals (“Performance-Based Options”). 25% of the Time-Based Options vest on the date of grant and
an additional 25% vest on each of the first three anniversaries of the date of grant. The Performance-Based Options vest 25% each year
based upon the attainment of certain performance goals for the years 2011, 2012, 2013 and 2014 or cumulative performance goals over all
or a portion of this time period.
(2) 50% of the option award vests based upon continued employment (“Time-Based Options”) and the remaining 50% shall vest based upon
the attainment of certain performance goals (“Performance-Based Options”). The Time-Based Options vest in four equal installments on
each of the first four anniversaries of the date of grant. The Performance-Based Options vest 25% each year based upon the attainment of
certain performance goals for the years 2013, 2014, 2015 and 2016 or cumulative performance goals over all or a portion of this time
period.
Name
Fees Earned or
Paid in Cash
Stock
Awards
Total
Samuel N. Borgese
$
40,000
115,188
$
155,188
Douglas K. Ammerman
$
40,000
115,188
$
155,188