CAVA GROUP INC
For the period ended Jun 20, 2024. Filed Apr 29, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jun 20, 2024 · Filed Apr 29, 2024
Contents
Summary Compensation Table
The table below sets forth the annual compensation earned by our NEOs for the fiscal years presented.
| Name Principal Position · Year · Salary (1)($) · Bonus($) · Stock Awards (2)($) · Option Awards (3)($) · Non-Equity Incentive Plan Compensation (4)($) · All Other Compensation (5)($) · Total($) | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brett SchulmanPresident and Chief Executive Officer | 2023 | 647,362 | — | 7,544,150 | 7,544,150 | 1,300,000 | 25,267 | 17,060,929 | ||||||
| 2022 | 618,000 | 69,525 | 1,158,746 | 385,959 | 365,006 | 5,692 | 2,602,928 | |||||||
| Tricia TolivarChief Financial Officer | 2023 | 551,309 | — | 1,147,700 | 1,147,700 | 551,309 | 24,933 | 3,422,951 | ||||||
| 2022 | 520,000 | 39,000 | 129,985 | 129,902 | 204,750 | — | 1,023,637 | |||||||
| Jennifer SomersChief Operations Officer | 2023 | 519,808 | — | 690,000 | 690,000 | 478,125 | 29,805 | 2,407,738 | ||||||
| 2022 | 500,000 | 587,500 | 124,983 | 124,898 | 134,375 | 58,000 | 1,529,756 | |||||||
The amounts reported represent the named executive officer’s base salary earned during the fiscal year covered.
For fiscal 2023, the amounts reported represent the aggregate grant-date fair value of the time-vesting RSUs awarded to the named executive officer in fiscal 2023. The fair value of RSUs is based on the market value of the Company’s common stock on the date of grant computed in accordance with Topic 718. The award of RSUs represents the right to receive one share of our common stock upon the vesting date of the RSU. The RSUs are scheduled to vest in equal annual installments over four years (five years in the case of Mr. Schulman’s June 2023 award) on each anniversary of the vesting commencement date, subject to the executive officer’s continued employment. The grant-date fair values reflected in the table do not take into account estimated forfeitures related to service-vesting conditions.
For fiscal 2023, the amounts reported represent the aggregate grant date fair value of the stock options granted to the named executive officers calculated in accordance with Topic 718, utilizing the Black-Scholes option pricing model assumptions discussed in Note 14 (Equity-based Compensation) to our2023 Annual Report. The options are scheduled to vest in equal annual installments over four years (five years in the case of Mr. Schulman’s June 2023 award) on each anniversary of the vesting commencement date, subject to the executive officer’s continued employment. The grant-date fair values reflected in the table do not take into account estimated forfeitures related to service-vesting conditions.
| Cava Group, Inc. | 23 | 2024 Proxy Statement |
|---|
Amounts included in this column reflect the named executive officer’s annual cash incentive awards earned under the CAVA Short-Term Incentive Plan. See “Narrative Disclosure to Summary Compensation Table—Non-Equity Incentive Plan Compensation.”
For fiscal 2023, the amounts reported in “All Other Compensation” include the following:
| Name | Company 401(k) Match(a)($) | Life Insurance Premiums(b)($) | Value of Benefits Discount(c)($) | Executive Physical(d)($) | Executive Cybersecurity(e)($) | Auto Allowance(f)($) | Total($) |
|---|---|---|---|---|---|---|---|
| Brett Schulman | 692 | 1,526 | 16,849 | 4,200 | 2,000 | — | 25,267 |
| Tricia Tolivar | — | 1,884 | 16,849 | 4,200 | 2,000 | — | 24,933 |
| Jennifer Somers | 3,825 | 883 | 14,097 | 4,200 | 2,000 | 4,800 | 29,805 |
a. Consists of matching contributions made by the Company to the Company’s 401(k) Plan for the benefit of the executive.
b. Represents life insurance premiums paid by the Company on the executive’s behalf under the Company’s executive life insurance plan.
c. Represents executive discount provided for cost of medical, dental and vision coverage.
d. Represents cost to the Company of executive physical benefit program to support early identification of preventable health risks.
e. Represents cost to the Company of executive cybersecurity/identification protection program.
f. Represents an annual car allowance paid to Ms. Somers pursuant to the terms of her employment agreement.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.