U of L President Ramsey gets several big servings of Texas Roadhouse stock
Dr. James Ramsey’s steak stock bonanza just got a bit juicier.
On Jan. 7, the University of Louisville president received 8,500 shares of stock from Texas Roadhouse, where he serves on the board of directors. The acquisition brings his current reported total up to 97,418 shares. The next day, he received an additional 25,500 restricted stock units from the steak giant, which he can collect over the next three years but doesn’t own yet.
Texas Roadhouse stock shares closed Jan. 15 at $33.67, meaning Ramsey’s 97,418 shares were worth $3.28 million at that time.
The newest 25,500 shares are restricted, meaning they are incentives for him to stay on at the company as a director. The shares of the stock were broken into three separate tranches of 8,500 shares of restricted common stock. They were granted as part of the firm’s 2013 Long-term Incentive Plan.
The first 8,500 shares will vest on Jan. 8, 2016, assuming Ramsey stays on the Texas Roadhouse board. The second unit of 8,500 will vest the following Jan. 8, also under continued service, and the last 8,500 units will vest Jan. 8, 2018, again assuming his continued service.
Ramsey is on Texas Roadhouse’s compensation committee and audit committee, as well. He’s been a director there since 2004. In addition, he earns $38,500 a year in salary for his service.
Ramsey is also a longstanding member of several other boards, including the Community Trust Bancorp Board of Directors — where he is also chair of the audit committee — and the Louisville Gas and Electric Advisory Board. He also earns $36,600 per year as a director at Community Trust, and owns 10,325 shares of stock, presently valued at approximately $355,400 as of Friday, Jan. 16.
Texas Roadhouse and U of L have enjoyed a close relationship in the past, most notably in 2010, when the university opened its Texas Roadhouse Student Center at the College of Business. This 1,840-square-foot lounge is designed to look just like a Texas Roadhouse restaurant, complete with signage and branding, though there’s no kitchen. It cost a reported $200,000 to build.
Papa John’s offering tasty incentives to franchisees
It’s a pretty good time to be in the Papa John’s business. That is, if you’re a new or existing franchisee and ready to take advantage of its 2015 U.S. Development Incentive Program.
These deals are effective as of January 2015 for new and existing franchisees. The spicy benefits include no franchise fees (which Papa John’s values at $25,000), a set of fancy pizza-making ovens, and reduced royalties for four years.
So not only is the Big Papa making it easier to get a piece of the pie, he’s also getting a smaller slice of your business for four years. And we’ll surely add some other pizza-related puns if we can think of them.
Joe Smith, VP of global sales and development for Papa John’s, says the firm has had many inquiries about this year’s incentives. “It’s a long-term investment for both sides,” he says.
Papa John’s says the program is generally available for new restaurants in the contiguous United States, with a development agreement signed on or before Dec. 27, 2015.