Michael Osanloo

President, CEO, and Director at Portillo's

Board

Since August 2018

Age

58 years

Education

Holds an MBA from the University of Chicago, a Juris Doctorate from the University of Illinois College of Law, and a Bachelor’s degree in Economics from the University of Michigan.

Tenure

Joined PTLO in 2018 as President, CEO, and Director and has been steering its brand strategy and growth since then.

Also at Portillo's

Jill Waite

Chief People Officer

Michelle Hook

Chief Financial Officer

Tony Darden

Chief Operating Officer

About

The current President, CEO, and Director has been at the helm of PTLO since August 2018, driving the company’s overall brand strategy, market expansion, and business performance. This leadership role encompasses the implementation of key initiatives that have significantly contributed to the growth and modernization of the company.

Academically, he holds a stellar record with degrees from distinguished institutions, including an MBA from the University of Chicago, a Juris Doctorate from the University of Illinois College of Law, and an AB in Economics from the University of Michigan. He currently resides in the Chicagoland area with his wife and three children, a background which underscores his strong connection to the community and his balanced approach to leadership.

Prior to his tenure at PTLO, he amassed a wealth of experience in senior leadership roles at major companies. His career highlights include serving as the CEO of P.F. Chang's China Bistro, where he managed over 300 restaurants globally, steering notable growth strategies at Kraft Heinz as Executive Vice President and President of Grocery, contributing to strategic initiatives at Caesar's Entertainment, and enhancing operational efficiencies as a Partner at Bain & Company.

$PTLO Performance Under Michael Osanloo

Past Roles

Organization	Role	Date Range	Details
P.F. Chang's China Bistro, Inc.	Chief Executive Officer and Director	March 2015 to October 2018	Oversaw more than 300 restaurants globally and expanded the brand into China, the UK, and Germany
Kraft Heinz	Executive Vice President and President of Grocery	N/A	Led a successful business transformation resulting in significant share growth
Caesar's Entertainment	Held senior leadership roles	N/A	Specific roles and achievements were not detailed
Bain & Company	Partner in the Consumer and Retail practice	1996 to 2005	Helped improve the effectiveness of strategic, operational, and marketing initiatives at various multibillion-dollar companies

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$900,000	Annual (2023)	Fixed base salary for 2023
Commuter Benefits	$4,321	Annual (2023)	Fixed commuter reimbursement
Cellphone Stipend	$720	Annual (2023)	Fixed cellphone allowance
Employee Share Purchase Plan	$2,888	Annual (2023)	Fixed contribution to share purchase plan
Health Insurance	$34,015	Annual (2023)	Fixed health insurance benefits
Personal Financial Management	$13,750	Annual (2023)	Fixed allocation for personal financial management
401(k) Match	$2,500	Annual (2023)	Fixed 401(k) matching contribution

Performance Compensation

Data from FY 2023

Performance Compensation Details for 2023

The performance compensation for Michael Osanloo in 2023 was structured as a bonus based on a short-term incentive program. Below is the detailed breakdown:

Metric Component	Weight (%)	Target/Condition	Actual Payout/Result	Additional Details
Adjusted EBITDA	75%	$96.8 million for 100% payout	Achieved a 128.2% payout on the financial metric	Payout range: 0% to 200%
Individual Performance	25%	Goals set per company strategic pillars	Assessed at 100% payout based on personal performance	Evaluated by the Compensation Committee
Total Bonus	N/A	Target bonus: $900,000	Actual bonus: $1,090,350 resulting from the combined performance outcomes	No vesting schedule, cash-based incentive

*Note: The bonus does not have a vesting schedule, grant date, grant date fair value, or grant date stock price as these aspects are typically associated with equity awards. The evaluation period was the fiscal year 2023 and payouts were contingent on meeting both the financial and individual performance targets. *