Gerald L. Morgan

Chief Executive Officer at Texas Roadhouse

Since March 18, 2021

Age

64 years

Tenure

Joined TXRH in 1997, held various roles including Managing Partner, Market Partner, and Regional Market Partner, served as President from December 2020 until January 2023, and was appointed Chief Executive Officer in March 2021.

Also at Texas Roadhouse

CCC

Christopher C. Colson

Chief Legal and Administrative Officer

DCM

D. Christopher Monroe

Chief Financial Officer

HEM

Hernan E. Mujica

Chief Technology Officer (CTO)

About

Gerald L. Morgan is a seasoned executive with nearly 40 years of restaurant management experience, currently serving as the Chief Executive Officer of Texas Roadhouse since March 2021.

He joined TXRH in 1997 and has held a variety of roles including Managing Partner, Market Partner, and Regional Market Partner. His responsibilities expanded further when he served as President from December 2020 until January 2023 before assuming his current position.

With a strong background in the restaurant industry, including previous roles at Bennigan’s Restaurants and Burger King, he brings extensive operational and strategic expertise to his leadership role at TXRH. At 64 years old, his experience continues to drive the company’s growth and success.

$TXRH Performance Under Gerald L. Morgan

Past Roles

Organization	Role	Date Range	Details
TXRH	President	December 2020 - January 2023	Former role before promotion to CEO
TXRH	Regional Market Partner	N/A	Past TXRH role prior to current CEO position
TXRH	Market Partner	N/A	Past TXRH role prior to current CEO position
TXRH	Managing Partner	N/A	Past TXRH role prior to current CEO position
Bennigan's Restaurants	Restaurant Management Roles	N/A	Worked in restaurant management before joining TXRH
Burger King	Restaurant Management Roles	N/A	Worked in restaurant management before joining TXRH

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Salary	$1,295,385	2024	Base salary for fiscal year 2024
Holiday Bonus	$0	2024	No holiday bonus received
Service Based RSUs	11,000 units, Fair Value: $1,301,300	Vests January 8, 2025	Granted as service-based RSUs with a grant date fair value of $1,301,300
Non-equity Incentive Plan Compensation	$2,271,270	2024	Compensation under the non-equity incentive plan for fiscal year 2024
All Other Compensation	$16,754	2024	Other compensation components for fiscal year 2024
Change in Control Payments	N/A [N/A]	N/A [N/A]	No specific information provided for fiscal year 2024 [N/A]
Franchised Restaurants Distribution	$188,667	2024	Distribution from franchised restaurant ownership interests
Mansfield Restaurant Distribution	$800,972	2024	Distribution from Mansfield, Texas restaurant ownership interest

Performance Compensation

Data from FY 2024

Performance Incentive Bonus

Metric	Value	Additional Details
Target Bonus	$1,300,000	Target bonus amount for fiscal year 2024
Minimum Bonus	$0	No bonus if performance criteria are not met
Maximum Bonus	$2,600,000	Cap at two times the target bonus
Performance Metrics	EPS Growth Target of 10% and Pre-Tax Profit based on 1.75% of pre-tax profits	Adjusted by 10% for every 1% deviation in EPS growth
Evaluation Period	Fiscal Year 2024	Performance assessed for 2024 with payout determination at period end
Payout Conditions	Discretionary by the Compensation Committee	Bonus may be adjusted downward based on performance criteria

Performance Based RSUs

Metric	Value	Additional Details
Target RSUs	11,000 shares	Target number of RSUs for performance-based award
Maximum RSUs	22,000 shares	Maximum award is two times the target RSUs
Grant Date	January 8, 2024	Date on which RSUs were granted
Grant Date Fair Value	$1,301,300	Total fair value of the target RSUs on the grant date
Grant Date Stock Price	$118.30	Closing price of the company’s common stock on the trading day before the grant date
Vesting Schedule	Vests on January 8, 2025	RSUs vest subject to the achievement of performance goals
Calculation Method	Target bonus amount divided by the grant date stock price, rounded to the nearest 100 shares	Determines the actual number of RSUs to be issued
Evaluation Period	Fiscal Year 2024 with performance review in Q1 2025	Performance goals certified and calculated in the first quarter of 2025