How did the stock-based compensation for Brueggers Bagels change from 2023 to 2024?
Brueggers_Bagels Franchise · 2025 FDDAnswer from 2025 FDD Document
blic companies in a similar line of business. From the comparable public companies, a representative market value multiple is determined and then applied to the Company's financial metrics. Stock-based compensation expense for the ENRGI-LTIP and ENRGI-EOP for the fiscal years ended December 31, 2024, December 26, 2023, and December 27, 2022 was $5.0 million, $5.3 million, and $3.9 million, respectively, and is included in general and administrative expenses on the consolidated statements of operations.
13. Noncontrolling Interests Subject to Put Provisions and Stock-Based Compensation (continued)
*Einstein Noah Restaurant Group, Inc.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 61)
What This Means (2025 FDD)
According to Brueggers Bagels's 2025 Franchise Disclosure Document, stock-based compensation expenses are detailed for various periods. Specifically, the document mentions stock-based compensation expense for the ENRGI-LTIP and ENRGI-EOP (Einstein Noah Restaurant Group, Inc. Long-Term Incentive Plan and Executive Ownership Plan).
For the fiscal year ended December 31, 2024, the expense was $5.0 million. In the preceding fiscal year, which ended on December 26, 2023, the expense was $5.3 million. This indicates a decrease in stock-based compensation expense from $5.3 million in 2023 to $5.0 million in 2024 for the ENRGI plans.
Additionally, the document provides figures for stock-based compensation expense under the CCOC-LTIP and CCOC-EOP (Caribou Coffee Operating Company Long-Term Incentive Plan and Executive Ownership Plan). For the fiscal year ended December 31, 2024, this expense totaled $3.4 million, while for the fiscal year ended December 26, 2023, it was $3.8 million. This also reflects a decrease in stock-based compensation expense from 2023 to 2024 for the CCOC plans.
In summary, both the ENRGI and CCOC plans saw a reduction in stock-based compensation expenses between 2023 and 2024. For a prospective franchisee, this information provides insight into how Brueggers Bagels manages executive and employee compensation through equity-based incentives, and how these practices have evolved over recent years.