New Ruby Tuesday President and CEO JJ Buettgen has been given nearly 600,000 shares of company stock as part of his compensation package, the Maryville-based restaurant chain said.
The award includes 497,546 shares of service-based restricted stock and 102,433 shares of “performance-based restricted stock assuming maximum performance is achieved,” according to a news release.
In addition, Buettgen was granted an option to buy more than 750,000 shares.
Ruby Tuesday executives are cashing in on the restaurant company’s recent success.
CEO and Chairman Sandy Beall last week sold about 101,000 shares for nearly $1.5M, his second million-dollar plus sale since October.
Ruby Tuesday CEO Sandy Beall and Director Lanigan Bernard are on TheStreet.com’s list of the 10 largest insider stock sales filed with the Securities and Exchange Commission on Wednesday.
Both sold more than $3 million worth of stock. Bernard and Beall are fourth and fifth, respectively, on the list.
That would buy a ton of RT’s “handcrafted burgers.”
The Maryville, Tenn.-based restaurant chain reported a week ago that its third fiscal quarter profit jumped to $17.8 million — it’s best quarter in three years — despite a drop in sales.