As of December 31, 2023, what was the total number of Bojangles awards that were vested?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
| Time Based Awards | Performance Based Awards | Total Awards | |
|---|---|---|---|
| December 31, 2023 | 175,460 | 230,767 | 406,227 |
| Vested as of December 31, 2023 | 111,140 | - | 111,140 |
Source: Item 22 — CONTRACTS (FDD page 82)
What This Means (2025 FDD)
According to Bojangles's 2025 Franchise Disclosure Document, as of December 31, 2023, the total number of vested awards was 111,140. These awards are further broken down into time-based awards.
The FDD indicates that 111,140 time-based awards were vested as of December 31, 2023. The document does not specify what these awards represent, but they could be related to stock options, bonuses, or other incentives.
Prospective franchisees should seek clarification from Bojangles regarding the nature of these awards, who is eligible to receive them, and the specific criteria for vesting. Understanding the details of these awards can provide a better insight into the company's compensation structure and employee incentives.