RAVE RESTAURANT GROUP INC
For the period ended Dec 10, 2024. Filed Oct 28, 2024.
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Dec 10, 2024 · Filed Oct 28, 2024
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SUMMARY COMPENSATION TABLE
The following table summarizes the compensation earned during the fiscal years ending June 30, 2024, and June 25, 2023 by each person who served as an executive officer of the Company at any time during the fiscal year then ended June 30, 2024, or is presently an executive officer of the Company (the “Named Executive Officers”):
| Name and Principal Position(s) | Fiscal Year | Salary ($) | Bonus ($) | Stock Awards ($)(1) | All Other Compensation ($)(2) | Total ($) |
|---|---|---|---|---|---|---|
| Brandon L. Solano Chief Executive Officer & President | 2024 | 350,000 | 317,667 | 175,391 | — | 843,058 |
| 2023 | 350,000 | 276,900 | 259,473 | 327 | 886,700 | |
| Jay Rooney(3)Chief Financial Officer | 2024 | 51,923 | 18,851 | — | — | 70,774 |
| 2023 | — | — | — | — | — | |
| Michael F. Burns(4)Chief Operating Officer | 2024 | 100,481 | — | 5,643 | — | 106,124 |
| 2023 | 275,000 | 149,500 | 43,840 | 4,693 | 473,033 | |
| Clinton D. Fendley(5)Chief Financial Officer | 2024 | 98,134 | — | 2,724 | — | 100,858 |
| 2023 | 211,500 | 69,993 | 26,027 | 2,705 | 310,225 |
| (1) | Reflects the fair value of each restricted stock unit award estimated on the date of grant based on the probable outcome of certain performance conditions. Restricted stock units represent the right to receive shares of common stock upon satisfaction of vesting requirements and performance conditions. Assumptions used in calculating the grant date fair value are included in Note H to the Company’s audited financial statements included in its Annual Report on Form 10-K for the fiscal year ended June 30, 2024. |
| (2) | Represents the Company’s matching contribution to 401(k) plan. |
| (3) | Mr. Rooney joined the Company, effective March 25, 2024. |
| (4) | Mr. Burns resigned his position with the Company, effective October 27, 2023. |
| (5) | Mr. Fendley resigned his position with the Company, effective December 2, 2023. |
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