Travis C. Doster
Texas RoadhouseAbout Travis C. Doster
Chief Communications Officer at Texas Roadhouse since November 2023; responsible for communications, marketing, events, public affairs, government relations, and corporate sustainability . Age 58; 19 years with Texas Roadhouse; 24 years of restaurant industry experience; over 30 years in media/public relations . Prior to Texas Roadhouse, he was Vice President at FSA Public Relations serving national clients (Jimmy John’s, Qdoba, Cameron Mitchell Restaurants) in PR/crisis/issues management . Company performance metrics tied to pay emphasize EPS growth and pre-tax profit; Texas Roadhouse TSR rose 35.8% in 2023 and 46.5% in 2024; net income was $304.9M (2023) and $433.6M (2024) with diluted EPS of 4.54 (2023) and 6.47 (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Texas Roadhouse | Director/Senior Director of Communications | 2006–2018 | Built communications function; led PR and crisis response |
| Texas Roadhouse | Vice President of Communications | 2018–Nov 2023 | Oversaw corporate communications; elevated brand messaging |
| Texas Roadhouse | Chief Communications Officer | Nov 2023–present | Leads communications, marketing, events, public affairs, government relations, and corporate sustainability |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| FSA Public Relations | Vice President | Not disclosed | Provided PR/crisis/issues management for national clients (Jimmy John’s, Qdoba, Cameron Mitchell Restaurants) |
Fixed Compensation
| Metric | 2024 | 2025 |
|---|---|---|
| Base Salary ($) | 547,308 | 630,000 |
| Target Bonus ($) | — | 525,000 |
Notes:
- 2025 employment agreement effective Jan 8, 2025; initial term to Jan 7, 2028; auto-renews for successive 1-year terms unless notice ≥60 days before expiration .
Performance Compensation
| Component | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| PSUs (FY2024) | EPS Growth | 50% | 10% | 42.5% EPS increase | 174.7% of total target for FY2024 | Jan 8, 2025 (for Doster’s Nov 9, 2023 grant) |
| PSUs (FY2024) | Pre-tax Profit | 50% | 1.75% of pre-tax earnings / bonus pool target | $513.7M pre-tax, $9.0M profit-sharing pool | 174.7% of total target for FY2024 | Jan 8, 2025 (for Doster’s Nov 9, 2023 grant) |
| Doster PSUs (FY2024) | Target Units | — | 1,700 units | Issued after certification | 174.7% of target factor | Shares underlying FY2024 PSUs issued Feb 28, 2025 |
Equity Ownership & Alignment
- Stock Ownership Guidelines: NEOs must hold ≥3x annual base salary; compliance measured at fiscal year-end price; executives in role ≥5 years are in compliance; newer executives expected to comply within 5 years .
- Hedging/Pledging: Speculative trading prohibited; pledging/margin strongly discouraged; none of the NEOs/directors have pledged or hold in margin accounts as of proxy dates .
Beneficial Ownership and Outstanding Awards (as of Dec 31, 2024 / Mar 17, 2025)
| Item | Value |
|---|---|
| Beneficially Owned Shares | 33,633; less than 1% of class |
| Unvested Service-Based RSUs | 3,728 units; market value $672,643 at $180.43 |
| Unvested Performance-Based RSUs | 1,700 units; market value $306,731 at $180.43 |
Vesting Schedule Detail
| Grant Type | Grant Date | Units | Grant-Date Fair Value ($) | Scheduled Vest |
|---|---|---|---|---|
| Service RSUs (VP service, Q1 2023) | May 10, 2023 | 834 | 89,697 | May 10, 2024 |
| Service RSUs (VP service, Q2 2023) | Aug 2, 2023 | 837 | 92,539 | Aug 2, 2024 |
| Service RSUs (VP service, Q3 2023) | Nov 1, 2023 | 911 | 92,503 | Nov 1, 2024 |
| Service RSUs (VP service, Q4 2023) | Feb 21, 2024 | 628 | 92,442 | Feb 21, 2025 |
| Service RSUs (CCO 2024 service) | Nov 9, 2023 | 3,100 | 320,571 | Jan 8, 2025 |
| Performance RSUs (FY2024 target) | Nov 9, 2023 | 1,700 target | 175,797 | Jan 8, 2025; certified at 174.7%; shares issued Feb 28, 2025 |
Employment Terms
- Contract Term: Effective Jan 8, 2025; initial term through Jan 7, 2028; auto-renews for successive one-year terms unless non-renewal notice ≥60 days pre-expiration .
- Base Salary and Bonus: Base $630,000; target annual cash bonus $525,000, min $0; max 2× target under current policy; metrics currently EPS growth and pre-tax profits .
- Equity Awards (2025 program):
- Service RSUs target $472,500 (granted Jan 8, 2025; vest Jan 8, 2026) .
- Three-year PSUs target $1,417,500; one-third vests each Jan 8 from 2026–2028; metrics: 50% pre-tax profit, 50% EPS growth (10% one-year vs 2024; 21% two-year vs 2024; 33% three-year vs 2024); 0–2× target based on achievement .
- Non-Compete/Restrictions: Two-year non-compete post-termination; confidentiality, non-solicitation, non-disparagement; clawback provision tied to Company clawback policy .
Severance and Change-in-Control Economics
| Scenario | Cash Multiple | Bonus Treatment | COBRA Coverage |
|---|---|---|---|
| Termination without Cause | 1× base salary | Prorated target bonus for year of termination | 12 months of premiums if enrolled at termination |
| Resignation for Good Reason within 12 months post-CIC | 1.5× base salary | 1.5× target bonus + prorated target bonus for year of termination | 18 months of premiums if enrolled at termination |
| Termination for Cause / Resignation without Good Reason | Base termination payments only (salary through termination, earned unpaid bonus, accrued PTO, reimbursable expenses) | N/A | N/A |
- Double-Trigger Equity Acceleration: Unvested RSUs/PSUs become vested if terminated without Cause or for Good Reason within 12 months following a Change in Control .
- Tax Gross-Ups: Agreements include “cutback” to avoid 4999 excise tax; no excise tax gross-up .
Performance & Track Record
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Total Shareholder Return (% change) | 5.6% | 35.8% | 46.5% |
| Net Income ($ Millions) | 269.8 | 304.9 | 433.6 |
| Diluted EPS ($) | 3.97 | 4.54 | 6.47 |
| Revenue Highlights | Exceeded $4.0B; Avg weekly sales $131,802 | $4.6B; +15.4% YoY; comps +10.1% | — |
Compensation Peer Group and Governance
- Compensation Consultant and Peer Group: FW Cook engaged (2021) to advise; peer group used for benchmarking includes BJ’s, Bloomin’ Brands, Brinker, Chipotle, Cracker Barrel, Darden, Dave & Buster’s, Denny’s, Dine Brands, Jack in the Box, Papa John’s, Red Robin, Ruth’s, Cheesecake Factory, Wendy’s .
- Stock Ownership Guidelines update (Feb 22, 2024): CEO 5× salary; President 4×; other NEOs 3×; Directors ≥5× cash comp or $500,000; compliance measured at fiscal year-end price; executives ≥5 years in role are compliant .
- Say-on-Pay feedback: New 2025 employment agreements implemented in part in response to 2024 advisory vote and market benchmarking .
Investment Implications
- Pay-for-performance alignment: Doster’s variable equity awards hinge on EPS and pre-tax profit, with clear targets and meaningful upside/downside (0–2×), reinforcing alignment with shareholder returns evidenced by strong TSR and EPS trends in 2023–2024 .
- Retention and mobility: Two-year non-compete and severance economics (1× base for no-cause; 1.5× base+bonus on CIC Good Reason) provide moderate retention incentives; equity is double-trigger accelerated upon CIC-related termination, limiting forced retention through unvested awards .
- Selling pressure watchpoints: Multiple vesting events occurred/occur near early 2025 (Jan 8, 2025 and Feb 21, 2025 for service/PSU awards), which can increase liquidity supply; however, hedging/pledging is prohibited and not practiced by NEOs/directors, mitigating leverage-driven selling risk .
- Ownership alignment: Beneficial ownership of 33,633 shares (<1% of class) and unvested RSUs/PSUs suggest growing but still modest personal exposure relative to larger NEOs; compliance with enhanced stock ownership guidelines expected within five years for newer executives .
- Governance quality: Use of independent consultant, explicit clawback policy, prohibition of speculative trading/pledging, and responsive changes to employment agreements post advisory vote support investor-friendly practices .