FAT Brands Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;Compensatory Arrangements of Certain Officers.
On December 31, 2025, FAT Brands Inc. (the “Company”) entered into letter agreements (the “Letter Agreements”) with the following named executive officers of the Company regarding certain compensation matters: Kenneth Kuick, Chief Financial Officer; Thayer Wiederhorn, Chief Operating Officer; and Taylor Wiederhorn, Chief Development Officer (the “NEOs”). Pursuant to the Letter Agreements, each of the NEOs agreed to waive their previously granted but unpaid bonuses for fiscal year 2024, and the Company agreed to pay 50% of such amounts as retention bonuses to the NEOs, which amounted to $500,000 for Kenneth Kuick, $550,000 for Thayer Wiederhorn, and $550,000 for Taylor Wiederhorn (the “Retention Bonuses”). Such amounts were paid to each NEO on January 2, 2026. In addition, each of the NEOs received a base salary increase from $550,000 to $950,000 effective January 1, 2026 (the “Salary Increases”).
The Letter Agreements provide that the right of each NEO to keep the Retention Bonuses and Salary Increases are subject to their continued employment with the Company until the earlier of (i) June 30, 2026 or (ii) should the Company file for protection under Chapter 11 or any other provision of the U.S. Bankruptcy Code, the effective date of the Company’s plan of reorganization or liquidation, or the date on which such Chapter 11 case is dismissed or converted to a case under Chapter 7 of the Bankruptcy Code. If, prior to the earlier of such events, an NEO voluntarily terminates his employment (other than as a result of death or disability) or if the NEO’s employment is terminated for cause (as defined in the Letter Agreement), such NEO will be required to repay the portions of the Retention Bonus and Salary Increase already received, less applicable taxes.
The preceding description of the Letter Agreement does not purport to be complete and is qualified in its entirety by reference to the form of Letter Agreement filed herewith as Exhibit 10.1 and incorporated herein by this reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Form of Letter Agreement, dated December 31, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: January 7, 2026
| FAT Brands Inc. | ||
| By: | /s/ Kenneth J. Kuick | |
| Kenneth J. Kuick | ||
| Chief Financial Officer | ||