Portillo’s COO Derrick Pratt Plans Departure with Exit Package

An update from Portillo’s (PTLO) is now available.

Derrick Pratt is stepping down as Chief Operating Officer of Portillo’s Inc. by the end of June 2024, with an exit package as per the company’s Senior Executive Severance Plan. This package includes his annual salary paid over time, a prorated annual bonus, COBRA health coverage costs, and up to $25,000 for outplacement services. Additionally, Pratt’s pre-IPO stock options and Restricted Stock Units will vest on his departure date, while other equity grants will be forfeited.

See more insights into PTLO stock on TipRanks’ Stock Analysis page.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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