Keri A. August
Senior Vice President of Finance and Accounting and Corporate Secretary at Good Times Restaurants
Executive
About Keri A. August
Keri A. August is Senior Vice President of Finance and Accounting and Corporate Secretary at Good Times Restaurants Inc. (GTIM), appointed January 2, 2024; she was 49 as of the 2025 proxy and previously consulted for GTIM from August 2023 through appointment . Her background spans 27+ years in finance and accounting, including leadership at InfoSync Services and an early career as an EY auditor; education noted as Missouri Southern State College . Company pay-versus-performance context: GTIM reported net income of $1,613k in FY2024 (vs. $11,086k FY2023; $(2,641)k FY2022) with TSR value of an initial $100 at $56 in FY2024, indicating modest shareholder return over the period .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Good Times Restaurants Inc. | SVP Finance & Accounting; Corporate Secretary | Jan 2, 2024–present | Oversees all finance and accounting; corporate secretary responsibilities |
| Good Times Restaurants Inc. | Consultant (Accounting Services) | Aug 2023–Jan 2, 2024 | Provided accounting leadership; accelerated onboarding and continuity |
| InfoSync Services | Vice President FAO | Apr 2022–Jul 2023 | Led restaurant-focused finance & accounting outsourcing programs |
| InfoSync Services | Progressive accounting leadership roles | Sep 2011–Apr 2022 | Built scalable FAO capabilities for hospitality clients |
| EY (Ernst & Young) | Auditor | Early career (dates not disclosed) | Foundation in public company auditing and controls |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| EY (Ernst & Young) | Auditor | Not disclosed | Professional training in audit/controls |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus ($) | All Other Compensation ($) | Notes |
|---|---|---|---|---|---|
| 2024 | 175,000 (offer letter) | 20% of base | 20,000 (discretionary) | 51,562 (incl. consulting fees) | Salary paid was $131,250 due to start date/proration |
| 2023 | — | — | — | 33,500 (consulting fees) | Pre-employment consulting only; not an employee |
Offer letter terms: at-will employment; eligibility for standard executive benefits; target bonus payable at fiscal year-end based on Company performance (prorated first year) .
Performance Compensation
- Annual Cash Incentive (FY2024): Discretionary bonus paid; no disclosed weighting/metrics for August.
| Incentive Type | Metric | Weighting | Target | Actual | Payout Mechanics |
|---|---|---|---|---|---|
| Annual Bonus (Cash) | Discretionary (Board assessment) | Not disclosed | 20% of base | $20,000 | Paid based on individual performance; no formulaic metrics disclosed |
- Equity Awards and Vesting:
| Award Type | Grant Date | Shares/Units | Grant Date Fair Value ($) | Vesting Schedule | Status/Value |
|---|---|---|---|---|---|
| RSU | Jan 2, 2024 | 10,000 | 24,300 | Cliff vest on Jan 2, 2027 (continuous employment) | Unvested; $29,000 year-end value at $2.90/sh (9/24/2024 close) |
No option awards for August in FY2024; outstanding equity table lists RSUs only for August .
Equity Ownership & Alignment
| Component | Amount | % of Shares Outstanding | Detail/Notes |
|---|---|---|---|
| Direct/Indirect Beneficial Ownership | 1,445 shares | Under 1% of class | Held in spouse’s account ; 10,658,012 shares outstanding at record date |
| Unvested RSUs | 10,000 units | N/A | Cliff vest Jan 2, 2027 |
| Options (Exercisable/Unexercisable) | None disclosed for August | N/A | — |
| Hedging/Pledging | Hedging/monetization transactions prohibited absent CEO authorization (Insider Trading Policy) | N/A | No pledging disclosures for August in proxy; none noted |
| Ownership Guidelines | Not disclosed | N/A | No executive ownership guideline disclosures specific to August in proxy |
Employment Terms
| Term | Detail |
|---|---|
| Employment Start | January 2, 2024 (SVP Finance & Accounting; Corporate Secretary) |
| Contract Type | At-will; no fixed term |
| Base Salary | $175,000 initial base per offer letter |
| Target Bonus | 20% of base; prorated in first year; payable based on Company performance |
| Severance | Not disclosed in offer letter; no severance terms disclosed for August |
| Change-of-Control | Not disclosed for August |
| Clawback | Company clawback policy adopted Nov 9, 2023; applies to current/former executive officers (covers excess incentive comp upon restatement) |
| Other Benefits | Eligibility for executive benefits and welfare plans |
| Non-Compete/Non-Solicit | Not disclosed for August |
| Related Party Transactions | None reportable for August |
Investment Implications
- Alignment/Retention: A 10,000 RSU cliff that vests in January 2027 creates a retention anchor and potential future selling pressure around vesting; absence of options reduces leverage on upside but aligns with retention-focused equity .
- Pay-for-Performance: FY2024 bonus for August was discretionary rather than formulaic; target is tied to Company performance but no disclosed metrics/weights, limiting transparency on incentive levers .
- Ownership Skin-in-the-Game: Current beneficial ownership is de minimis (<1%), with alignment primarily via unvested RSUs; no pledging disclosed and hedging restricted by policy, reducing misalignment risks .
- Contractual Risk/Costs: At-will structure with no disclosed severance/change-of-control for August suggests limited termination/change-in-control cash costs, but less contractual retention protection compared with CEO-level agreements .
- Governance Controls: A compliant clawback policy is in place, improving downside protection if financial statements are restated; no related-party transactions linked to August .