How many Benihana RSUs were cancelled, expired, or forfeited in 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
thin a 48-month period and, if earned, will vest and be settled based on a time element as outlined in the RSU agreement governing the CEO RSUs. To value the CEO RSUs, the Company, with the assistance of a third-party specialist, calculated the fair value of CEO RSUs using the Monte Carlo Simulation, a risk-free rate of 3.31%, a starting common stock value of $6.95, volatility of 73%, and a standard normal distributi
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the number of Restricted Stock Units (RSUs) that were cancelled, expired, or forfeited during 2022 can be found in Item 22, which discusses contracts. The table outlines the changes in non-vested RSUs over several years.
Specifically, for the period ending December 31, 2022, 90,944 RSUs were cancelled, expired, or forfeited. These RSUs had a weighted average grant date fair value of $6.38. This indicates a reduction in the number of RSUs available due to various reasons such as cancellation, expiration, or forfeiture by the holders.
Additionally, the table provides data for the beginning of 2022 and subsequent changes, including granted and vested RSUs, offering a comprehensive view of RSU activity during the year. This information is relevant for prospective franchisees as it provides insight into the company's equity compensation practices and how RSUs are managed and impacted over time.