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|Item 5.02|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 22, 2020, Dine Brands Global, Inc., a Delaware Corporation (the “Corporation”), filed a Current Report on Form 8-K reporting the appointment of Allison Hall as interim Chief Financial Officer, effective January 22, 2021 (“December 22, 2020 Form 8-K”). At the time of such filing, Ms. Hall’s compensation as interim Chief Financial Officer had not yet been determined. This Current Report on Form 8-K/A amends the December 22, 2020 Form 8-K to include information regarding decisions on Ms. Hall’s compensation made by the Compensation Committee on January 19, 2021.
In connection with her appointment as interim Chief Financial Officer, Ms. Hall will receive (1) her normal salary of $310,000 annually plus a temporary stipend of $5,000 per month while Ms. Hall serves in the role of interim Chief Financial Officer, (2) a one-time equity award grant of $200,000 in restricted stock awards which will vest in full upon the third anniversary of the grant date, provided that Ms. Hall is continuously employed by the Corporation through this date, and (3) a cash bonus of $60,000 upon completion of Ms. Hall’s term of service as interim Chief Financial Officer. In addition, Ms. Hall’s target bonus under the Corporation’s annual cash incentive plan will be temporarily increased from 40% to 60% through the duration of time that Ms. Hall serves in the role of interim Chief Financial Officer.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|Date: January 20, 2021||DINE BRANDS GLOBAL, INC.|
Senior Vice President, Legal, General
Counsel and Secretary