Management ChangeOct 6, 2026, 08:06 AM
Portillo's Chief People Officer Jill Waite to Depart Nov 1
AI Summary
Portillo's Inc. announced that Chief People Officer Jill Waite will depart the company effective November 1, 2026. Her departure will be treated as a qualifying termination, entitling her to benefits under the Senior Executive Severance Plan. This includes a cash payment equal to her Annual Base Salary, prorated 2026 Annual Bonus, COBRA coverage reimbursement, and outplacement services. Additionally, certain Restricted Stock Units scheduled to vest in 2027 will vest on November 2, 2026, and her outstanding stock options will remain exercisable until their 10th anniversary.
Key Highlights
- Jill Waite departs as Chief People Officer of Portillo's Inc. effective November 1, 2026.
- Waite to receive severance under the Senior Executive Severance Plan, including cash payment equal to Annual Base Salary.
- Waite's 19,795 and 6,282 Restricted Stock Units scheduled to vest in 2027 will vest on November 2, 2026.
- Waite's outstanding stock options granted on August 7, 2019 will remain exercisable until the 10th anniversary of the grant date.
- Departure treated as a qualifying termination entitling Waite to benefits under the SESP.
- Separation Agreement to include a general release of claims and customary protective covenants.
Price Impact
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