Core Viewpoint - Noodles & Company is offering retention bonuses to key executives as it considers a change in ownership to maximize shareholder value amid weak stock performance [1][2][3] Executive Retention Bonuses - The company plans to provide a 100% bonus of base salary to CEO Joseph Christina, 75% to CFO Michael Hynes, and 50% each to EVP for technology Corey Kline and CAO Kathy Lockhart [1] - Bonuses are contingent on executives remaining with the company for 90 days post-change of control or being terminated without cause within specified timeframes [2] Strategic Review and Financial Context - Noodles has engaged Piper Sandler to explore strategic alternatives, including a potential sale, due to its weak share price [3] - The company's shares closed at 61 cents, significantly below the Nasdaq's dollar threshold, indicating ongoing compliance issues [3][4] Compliance and Governance - Noodles has been out of compliance with Nasdaq rules since June 24, marking the second instance in the past year [4] - A change in control is defined as a shift in board majority, loss of majority voting power by current stockholders, or sale of substantial assets to non-affiliated parties [5] Recent Performance - Under CEO Christina's leadership, Noodles reported a 4% increase in same-store sales and improved restaurant margins in the latest quarter, although it still faced a net loss and revenue decline [6][7]