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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 2, 2025
BJ'S RESTAURANTS, INC.
(Exact name of registrant as specified in its charter)
| California | 0-21423 | 33-0485615 |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 7755 Center Avenue, Suite 300 | |
| Huntington Beach, California | 92647 |
| (Address of principal executive offices) | (Zip Code) |
(714) 500-2400
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol |
Name of each exchange on which registered | ||
| Common Stock, No Par Value | BJRI | NASDAQ Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On June 5, 2025, BJ’s Restaurants, Inc. (the “Company”) announced that Lyle D. Tick, the Company’s current President and Chief Concept Officer, had been promoted to the role of Chief Executive Officer and President effective June 5, 2025 (the “Effective Date”).
Prior to this new role, Mr. Tick, age 49, served as the Company’s President and Chief Concept Officer of the Company since September 9, 2024. Mr. Tick served as President and Chief Executive Officer of OTB Acquisition, LLC, the owner of On the Border Mexican Grill & Cantina restaurants, from December 2023 to August 2024. Prior to that, Mr. Tick served as Brand President of Buffalo Wild Wings (Inspire Brands family of restaurants) from 2018 to 2023. He previously served as Managing Director, Boots Retail USA for Walgreens Boots Alliance beauty brands business in the Americas from 2015 to 2018, and as Vice President Category Director, Vodkas, North America and Senior Global Category Director at Bacardi from 2011 to 2015. Prior to joining Bacardi, Mr. Tick worked within several marketing and advertising agencies, including as Chief Growth Officer at J. Walter Thompson, co-President at Gotham, and various positions at McGarryBowen.
Mr. Tick’s compensation will continue to be governed by the terms of his August 23, 2024 letter agreement with the Company (the “Existing Employment Agreement”), the terms of which are described in Item 5.02 of the Company’s Current Report on Form 8-K filed on September 3, 2024, which description is incorporated herein by this reference. In addition to the equity and cash compensation to which he is entitled upon promotion to Chief Executive Officer under the Existing Employment Agreement, the Board approved a $1,000,000 special equity grant to Mr. Tick under the Company’s Equity Incentive Plan in the form of performance share units vesting over three years and tied to the achievement of specified share prices.
Mr. Tick was not appointed pursuant to any arrangement or understanding with any other person, has no family relationships with any director or executive officer of the Company, and there are no transactions involving Mr. Tick that would be required to be reported under Item 404(a) of Regulation S-K.
Simultaneously with the promotion of Mr. Tick, C. Bradford Richmond resigned as the Company’s Interim Chief Executive Officer. In order to facilitate the transition, Mr. Richmond will serve as Special Advisor to the Chief Executive Officer through August 22, 2025 and in connection therewith will continue to be compensated pursuant to the terms of his existing Offer Letter, dated August 22, 2024, the terms of which are described in Item 5.02 of the Company’s Current Report on Form 8-K filed on August 28, 2024, which description is incorporated herein by this reference. In addition, following his resignation as Interim Chief Executive Officer, Mr. Richmond will resume receiving an annual equity grant and cash compensation for his services as a non-employee director in accordance with the Company’s existing director compensation policy.
On June 2, 2025, Thomas A. Houdek, the Chief Financial Officer and a Senior Vice President of the Company, notified the Company that he would be leaving the Company effective June 20, 2025.
A copy of the Company’s press release, dated June 5, 2025, relating to the matters described in Item 5.02 above, is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information being furnished pursuant to Item 8.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liability of that section, and shall not be incorporated by reference into any other document filed under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Exhibit No. | Description | |
| 99.1 | Press Release dated June 5, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
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 hereunto duly authorized.
| BJ'S RESTAURANTS, INC. | ||
| (Registrant) | ||
| Date: June 5, 2025 | By: | /s/ KENDRA D. MILLER |
| Kendra D. Miller | ||
| Executive Vice President and General Counsel | ||
EXHIBIT 99.1
Lyle D. Tick Appointed CEO and President of BJ’s Restaurants, Inc.
Company announces departure of CFO
HUNTINGTON BEACH, Calif., June 05, 2025 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today announced that Lyle D. Tick, currently BJ’s President and Chief Concept Officer, has been appointed Chief Executive Officer and President, effective June 5, 2025. Interim Chief Executive Officer C. Bradford (“Brad”) Richmond will assume the role of Special Advisor to the CEO during Mr. Tick’s transition into his new role and will remain a member of the Board of Directors.
Mr. Tick was named President and Chief Concept Officer in September 2024, and in his time with the Company has been instrumental in the creation of the Company’s strategic vision, which is focused on the team member experience, handcrafted food and beverages, delivering WOW hospitality and keeping the atmosphere fresh. His leadership and vision for the brand have allowed the Company to build a strong foundation and a strategic plan to deliver long-term value for shareholders.
Lea Anne S. Ottinger, the Company’s Board Chair commented, “We are delighted that Lyle will be leading BJ’s as its next CEO. As President and Chief Concept Officer, Lyle has quickly re-focused the Company’s core sales and profit-driving initiatives to further differentiate our concept while capturing opportunities to reduce operational complexity. We are confident that under his leadership, BJ’s will continue to drive sustainable growth and create long-term shareholder value.”
Mr. Richmond commented, “Lyle has provided focus and clarity to our team as we articulate our brand positioning and execute on strategic initiatives focused on delivering sustained profitable growth in the mid-to-long term. After working closely with Lyle for the past nine months, I am confident he is the right person to lead BJ’s through its next chapter of growth. With his strategic consumer focus and expertise in brand positioning, as well as his deep experience in the restaurant industry, I have full confidence in his ability to help BJ’s achieve continued success.”
Mr. Tick commented, “It is an honor to be appointed BJ’s next Chief Executive Officer, and I am grateful to the Board for their confidence in me. Since joining the leadership team last year, I have developed an even greater appreciation for the tremendous potential of the BJ’s brand. I am proud of the progress we have made to date for the business and as a leadership team. I look forward to building on the foundations we have laid and continuing to work with Brad, the Board, the leadership team and our team members around the country as we execute on our strategies to position BJ’s for sustainable long-term success.”
Prior to joining BJ’s, Mr. Tick served as President and Chief Executive Officer of On the Border Mexican Grill & Cantina from December 2023 to August 2024. He previously served as Brand President of Buffalo Wild Wings (Inspire Brands family of restaurants) from 2018 to 2023, where he led a team on the revitalization of the Buffalo Wild Wings brand, re-embracing its sports bar heritage, evolving the restaurant design, revamping the menu, which was recognized with the 2020 MenuMasters award for Best Menu Revamp, and launching the Buffalo Wild Wings GO sub-brand. From 2016 to 2018, Mr. Tick served as Managing Director, Boots Retail USA for Walgreens Boots Alliance, where he led the re-organization and scaling of the beauty brands business in the Americas, establishing No7 as the leading mass anti-aging serum brand in the United States. From 2011 to 2015, he served in global and North American marketing leadership roles at Bacardi, leading the white spirits portfolio, where he was instrumental in unlocking new growth in the United States and scaling the Grey Goose brand internationally. Prior to Bacardi, Mr. Tick served in various executive leadership roles at marketing and advertising agencies, including at J. Walter Thompson, Gotham, and McGarryBowen.
CFO Transition
The Company also announced today that Thomas A. Houdek, its Chief Financial Officer, has resigned from his position, effective June 20, 2025. Mr. Houdek has accepted a new position outside of the restaurant industry.
Ms. Ottinger added, “On behalf of our team, I would like to sincerely thank Tom for his leadership and contributions to BJ’s since joining us in 2019. We wish Tom the best of luck and success in his future endeavors.”
About BJ’s Restaurants, Inc.
BJ’s Restaurants, Inc. is a national brand with brewhouse roots where Craft Matters®. BJ’s broad menu has something for everyone: slow-roasted entrees, like prime rib, BJ’s EnLIGHTened Entrees® including Cherry Chipotle Glazed Salmon, signature deep-dish pizza, and the often imitated, but never replicated world-famous Pizookie® dessert. The winner of the 2025 Vibe Vista Award for Best Beer Program, the winner of the 2024 Vibe Vista Award for Best Overall Beverage Program and the most decorated restaurant-brewery in the country, BJ’s has been a pioneer in the craft brewing world since 1996 and takes pride in serving BJ’s award-winning proprietary handcrafted beers, brewed at its brewing operations in four states and by independent third-party craft brewers. The BJ’s experience offers high-quality ingredients, bold flavors, moderate prices, sincere service, and a cool, contemporary atmosphere. Founded in 1978, BJ’s owns and operates over 200 casual dining restaurants in 31 states. All restaurants offer dine-in, take-out, delivery and large party catering. For more BJ’s information, visit http://www.bjsrestaurants.com.
Forward-Looking Statements Disclaimer
Certain statements in the preceding paragraphs and all other statements that are not purely historical constitute “forward-looking” statements for purposes of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Such statements include, but are not limited to, those regarding potential growth and the success of various sales-building and productivity initiatives. These “forward-looking” statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those projected or anticipated. Factors that might cause such differences include, but are not limited to those risk factors and other matters discussed in the Company’s filings with the Securities and Exchange Commission, including its recent reports on Forms 10-K, 10-Q and 8-K. The “forward-looking” statements contained in this press release are based on current assumptions and expectations, and BJ’s Restaurants, Inc. undertakes no obligation to update or alter its “forward-looking” statements whether as a result of new information, future events or otherwise.
For further information, please contact ICR at (332) 242-4370 or at InvestorRelations@BJRI.com.