PW Partners Enters into a Cooperation Agreement with BJ's Restaurants
March 28, 2024 at 04:02 pm EDT
Share
On March 26, 2024, PW Partners, LLC announced that it has entered into a Cooperation Agreement with BJ's Restaurants, Inc. PW Partners stated that effective upon execution of the Cooperation Agreement, PW Partners withdrew its Notice to submit the Nomination Proposal and the Bylaw Proposal at the 2024 annual meeting. PW Partners added that pursuant to the cooperation agreement, the Company engaged PW Partners to provide recommendations regarding cost structure and efficiencies to the Company and the Board. PW Partners also stated that it would vote all common shares beneficially owned by it in accordance with the Board?s recommendations with respect to (i) the election, removal and/or replacement of directors of the Company and (ii) any other proposal submitted to shareholders, subject to certain exceptions relating to extraordinary transactions and recommendations made by Institutional Shareholder Services, Inc. or Glass Lewis & Co., LLC.
BJ's Restaurants, Inc. is a casual dining restaurant. The Companyâs restaurants feature a menu with approximately 100 menu items designed to offer various items, including slow roasted entrees, such as prime rib, EnLIGHTened Entrees, such as Cherry Chipotle Glazed Salmon, original signature deep-dish pizza, the Pizookie dessert and BJs craft beers. Its craft beer is produced at five in-house brewing facilities and by independent third-party brewers using its recipes. The Company is a national restaurant chain, which owns and operates approximately 200 casual dining restaurants located in 30 states, including Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington.
BJ'S RESTAURANTS, INC. 
