• Pizza Inn CEO could exercise 822,500 stock options

PLANO, Texas -- Pizza Inn CEO Jeff Rogers may exercise up to 822,500 shares of his personal stock options, or almost 23 percent of his holdings, as the Plano, Texas-based chain seeks to execute a secondary offering for its shares.

The 450-store chain's stock dropped 16 percent in 2001, and began the first week of 2002 on the same down slope. However, as of Jan. 7, the stock's price was up nearly 11 percent ($1.56 a share), a gain likely triggered by word of Roger's potential sale.

Foodservice.com, reported that an SEC filing showed Pizza Inn's desire to sell an additional 600,000 shares of its stock. The move is allowing some its executives a chance to exercise their personal options.

According to Pizza Inn's proxy filed in October, Rogers had 760,000 exercisable options and 62,000 more that were frozen. When the transaction is completed, he will purchase his shares from the company and sell them to the public in hopes profiting on the difference. Rogers currently owns almost 4 million shares of Pizza Inn stock.

The filing said that Pizza Inn wants to use its proceeds from the sale for corporate purposes.

Just how the stock options became immediately available for purchase is not clear. Pizza Inn spokesperson, Jackie Black, was not available for comment at press time.

Related Content

User Comments – Give us your opinion!
Products & Services

Javarama coffee

http://global.networldalliance.com/new/images/products/6961.png

6961/Javarama-coffee

Customized Menu Board Content

http://global.networldalliance.com/new/images/products/6689.png

6689/Customized-Menu-Board-Content

Meatballs

http://global.networldalliance.com/new/images/products/6789.png

6789/Meatballs

Remote Service | Content Management Service

http://global.networldalliance.com/new/images/products/6685.png

6685/Remote-Service-Content-Management-Service

See the latest in restaurant POS

http://global.networldalliance.com/new/images/products/1926.png

1926/See-the-latest-in-restaurant-POS

Social Security Number (SSN) Verification

http://global.networldalliance.com/new/images/products/SSN_employmentsearch.gif

1426/Social-Security-Number-SSN-Verification

Dual Core Menu Board Media Player - $99

http://global.networldalliance.com/new/images/products/6677.png

6677/Dual-Core-Menu-Board-Media-Player-99

Luzianne iced tea

http://global.networldalliance.com/new/images/products/6957.png

6957/Luzianne-iced-tea

PCI Compliance Services

http://global.networldalliance.com/new/images/products/4892.png

4892/PCI-Compliance-Services

Hardware

http://global.networldalliance.com/new/images/products/4553.png

4553/Hardware

Digital Menu Boards and ROI
Fast Casual Executive Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.