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AI brief of an SEC Form 8-K · Texas Roadhouse (TXRH)

Texas Roadhouse signs new employment agreements with top executives through January 2028

Neutral Impact 3 of 5 leadership Written later

On December 27, 2024, Texas Roadhouse entered into new employment agreements with six senior officers, including CEO Jerry Morgan, effective January 8, 2025, with initial terms ending January 7, 2028. The filing sets 2025 base salaries, target bonuses tied to EPS growth and pre-tax profits, and large equity grants, including performance-based awards with EPS growth targets through 2027.

Key points

  • CEO Jerry Morgan's 2025 base salary is $1,400,000, with a target bonus of $1,400,000 and a maximum of $2,800,000.
  • Morgan's 2025 restricted stock units are valued at $2,100,000, and his performance-based restricted stock units have a target value of $6,300,000.
  • Performance-based awards use EPS growth targets of 10% (2025), 21% (two-year) and 33% (three-year) versus fiscal 2024.
  • Agreements supersede prior contracts, and severance pay is tied to termination events, with enhanced terms after a change in control.

The filing

CompanyTexas Roadhouse (TXRH)
Form8-K, current report
Filed with the SECDec 31, 2024, 4:05 PM ET
Accession number0001104659-24-132849

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:12 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 31, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.