What was the total number of Bojangles time-based awards granted as of December 25, 2022?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
| Time Based Awards | Performance Based Awards | Total Awards | |
|---|---|---|---|
| December 25, 2022 | 169,085 | 228,979 | 398,064 |
| Granted | 28,320 | 42,480 | 70,800 |
| Forfeited | (21,945) | (40,692) | (62,637) |
Source: Item 22 — CONTRACTS (FDD page 82)
What This Means (2025 FDD)
According to Bojangles's 2025 Franchise Disclosure Document, as of December 25, 2022, the total number of time-based awards was 169,085. These awards are a form of compensation or incentive provided to employees, directors, officers, and consultants of Bojangles. These time-based awards vest over a period of four to five years in equal annual installments, contingent upon the employee's continued service to the company.
In addition to the existing time-based awards, 28,320 new time-based awards were granted during the period leading up to December 25, 2022. However, 21,945 time-based awards were forfeited during the same period. These forfeitures may occur due to employees leaving the company or failing to meet certain conditions of the award agreement.
The fair value of these time-based awards on the grant dates ranged from $30.14 to $64.92. These awards are part of Bojangles's broader share-based compensation plan, which includes both time-based and performance-based awards. The company uses these awards to attract, retain, and motivate its workforce, aligning their interests with the company's long-term success. The specifics of these awards are determined by the board of directors of Walker Holdings, LLC.