Monitor the outcome of the CEO's harassment investigation by Hagan Law Group, as a negative finding or further escalation could pressure the Board and may influence the say-on-pay vote outcome. The Pie Five 17.3% domestic comparable sales decline in Q4 is a material negative trend to track in subsequent quarters.
Price Chart
Executive Summary
RAVE Restaurant Group's 2026 definitive proxy statement schedules its annual meeting for December 10, 2026, with proposals to elect four incumbent directors, ratify auditor Bodwell Vasek Wells DeSimone LLP, and hold an advisory say-on-pay vote. The filing is routine in nature, but the cross-filing context reveals a CEO workplace harassment complaint against the Board filed on August 31, 2026, which the Board is investigating through outside counsel. The company reported modest fiscal 2026 results with total revenue up 8.8% to $3.4M in Q4 and net income of $2.9M for the full year, though Pizza Inn domestic comparable sales declined 2.8% in Q4 and Pie Five declined 17.3%.
Key Facts
- Annual meeting scheduled for December 10, 2026; record date October 16, 2026
- Four incumbent directors nominated for re-election: Mark E. Schwarz, Clinton J. Coleman, William C. Hammett Jr., Robert B. Page
- CEO Brandon Solano filed a workplace harassment complaint against the Board on August 31, 2026, related to salary dispute; Board engaged Hagan Law Group to investigate
- CEO total compensation for fiscal 2026: $893,415 (salary $363,077, bonus $284,836, stock awards $245,502)
- CFO Jay Rooney total compensation for fiscal 2026: $336,851 (salary $236,297, bonus $74,151, stock awards $26,403)
- Newcastle Partners L.P. (affiliated with Chairman Schwarz) beneficially owns 22.9% of outstanding shares
- Auditor changed from Whitley Penn LLP to Bodwell Vasek Wells DeSimone LLP effective February 10, 2026
- Fiscal 2026 net income: $2.9M; total revenue: $12.9M; cash and short-term investments: $13.6M
- Pizza Inn domestic comparable store retail sales decreased 2.8% in Q4 FY2026; Pie Five decreased 17.3%
- Say-on-pay vote is advisory; last frequency approved every three years (2023 approval; next vote on frequency in 2029)
Financial Impact
CEO total compensation $893,389; CFO $336,851; net income $2.9M net income; $12.9M total revenue; $13.9M cash and short-term investments $13.6M
Risk Factors
- CEO harassment complaint against Board could escalate into litigation or governance disruption
- Pie Five domestic comparable store retail sales declining 17.3% in Q4 signals operational weakness at that brand
- Pizza Inn domestic comparable sales declining 2.6% in Q4 after prior year 6.3% growth in Q4 last year
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001140361-26-040557 |
| Document: 0001140361-26-040557-index-headers.html | 0001140361-26-040557 |
| Document: 0001140361-26-040557-index.html | 0001140361-26-040557 |
| Document: 0001140361-26-040557.txt | 0001140361-26-040557 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | DEFA14A | $2.20 | awaiting T+20 | — | $2.22 (+0.91%) |
Oct 23, 2026 3d ago | DEF 14A | $2.20 | awaiting T+20 | — | $2.22 (+0.91%) |
Sep 24, 2026 4w ago | 8-K | $2.29 $2.20 | ▼ −3.93% | ▼ −3.51% | $2.22 (−3.06%) |
Sep 24, 2026 4w ago | Press Release | $2.29 $2.20 | ▼ −3.93% | ▼ −3.51% | $2.22 (−3.06%) |
May 7, 2026 24w ago | 8-K | $2.91 $2.81 | ▼ −3.44% | ▼ −6.57% | $2.22 (−23.71%) |
May 7, 2026 24w ago | Press Release | $2.91 $2.81 | ▼ −3.44% | ▼ −6.57% | $2.22 (−23.71%) |
US Market Status
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