Bojangles’ EVP Eric Newman Resigns

9/25/16

The executive vice president of Bojangles’ Inc. resigned Monday in order to pursue other opportunities, according to a Securities and Exchange Commission filing.

Eric Newman, 63, previously served as Bojangles’ executive vice president, general counsel and secretary.

Newman sold 29,125 shares of the company’s stock on Aug. 8. at $18.27 per share, for a total transaction value of $532,113.75. The sale can be found here.

The 23-year Bojangles veteran also sold 875 shares at $18.20 per share on July 27.

Newman still owns 19,125 shares of Bojangles stock. Those shares are worth $315,945 based on Friday’s closing price of $16.52.

The 39-year-old company has 689 system-wide restaurants, of which 295 are company-operated and 394 are franchised restaurants.

Charlotte-based Bojangles last issued its quarterly earnings results on Aug. 8, the same day Newman sold his shares. The company reported earnings per share of 27 cents for the quarter. During the same period in the previous year, the company posted earnings per share of 23 cents.

The business earned $131.60 million during the quarter, compared to analyst estimates of $132.77 million. Bojangles’ revenue was up 9.2 percent compared to the same quarter last year.

The filing announcing Newman’s resignation can be foundhere. Bojangles will disclose Newman’s new or modified compensatory arrangement due to his resignation in a subsequent filing.

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