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) January 8, 2025
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (813 ) 282-1225
N/A
(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:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||||||||||||||
$ | The (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. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On January 8, 2025, the Board of Directors (the “Board”) of Bloomin’ Brands, Inc. (the “Company”), appointed Patrick Hafner to serve as EVP, President, Outback Steakhouse, effective January 20, 2025.
Mr. Hafner, 50, has served as the President of Carrabba’s Italian Grill since May 2022, and Vice President of Operations, Carrabba’s Italian Grill from March 2018 to May 2022. Prior to this, he spent 21 years in various roles with Outback Steakhouse, including as Manager, Managing Partner, JVP, and Regional Vice President.
In connection with his appointment, Mr. Hafner’s annual base salary will be increased to $500,000, his annual target bonus will be 85% of base salary (prorated effective January 20, 2025), and he will receive a one-time restricted stock unit award under the 2020 Omnibus Incentive Compensation Plan (the “Plan”) having a grant date value of $250,000 on February 1, 2025, vesting ratably over three years. Beginning in 2025, the target value of his annual equity award under the Plan will be $500,000.
There are no family relationships between Mr. Hafner and any director or other executive officer of the Company, nor are there any transactions between Mr. Hafner or any member of his immediate family and the Company or any of its subsidiaries that would be reportable as a related party transaction under the rules of the United States Securities and Exchange Commission.
Item 7.01 Regulation FD Disclosure
On January 8, 2025, the Company issued a press release announcing the appointment of Mr. Hafner as EVP, President, Outback Steakhouse. A copy of the press release is filed with this Form 8-K as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit Number | Description | ||||||||||
| 99.1 | |||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||||||||
SIGNATURE
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.
| BLOOMIN’ BRANDS, INC. | |||||||||||
| (Registrant) | |||||||||||
| Date: | January 8, 2025 | By: | /s/ Kelly Lefferts | ||||||||
| Kelly Lefferts | |||||||||||
| Executive Vice President and Chief Legal Officer | |||||||||||
 | NEWS | Exhibit 99.1 | ||||||||||||
| Cathie Koch | ||||||||||||||
| Group Vice President, Corporate Affairs | ||||||||||||||
| (813) 830-5127 | ||||||||||||||
Pat Hafner Promoted to Executive Vice President, President of Outback Steakhouse
The 29-Year Company Veteran Began as a Server & Cook for Outback
TAMPA, Fla. (January 8, 2025) – Bloomin’ Brands, Inc. (Nasdaq: BLMN) announced the promotion of Pat Hafner to Executive Vice President, President of Outback Steakhouse. He will be responsible for leading operations and development for the company’s largest brand. He most recently served as President of Carrabba’s Italian Grill.
“Pat is an ‘operator’s operator’ who has held a variety of roles and led special projects at Bloomin’ Brands,” said Mike Spanos, Chief Executive Officer of Bloomin’ Brands. “He is a guest-centric leader who builds high-capability teams that deliver outstanding business results.”
Hafner’s restaurant career began with Outback Steakhouse as a server and cook, advancing and excelling in each role including Manager, Managing Partner, Joint Venture Partner, and Regional Vice President, before joining Carrabba’s Italian Grill as Vice President of Operations in 2018. He was promoted to President of the brand in 2022.
He was recognized as Restaurateur of the Year by the New Mexico Restaurant Association in 2014 - the highest honor a restaurateur can achieve in New Mexico - for his contributions to the advancement of the restaurant industry. He was awarded “Outbacker of the Year” by Outback Steakhouse in 2015 for his positive impact on the brand throughout his career.
Hafner earned both his bachelor’s degree and MBA from the University of New Mexico.
About Bloomin’ Brands, Inc.
Bloomin’ Brands, Inc. is one of the largest casual dining restaurant companies in the world with a portfolio of leading, differentiated restaurant concepts. The Company’s restaurant portfolio includes Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns and operates more than 1,450 restaurants in 46 states, Guam and 13 countries, some of which are franchise locations. For more information, please visit www.bloominbrands.com.
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