CHEESECAKE FACTORY INC, DEF 14A filed on 4/10/2025
Proxy Statement (definitive)
v3.25.1
Cover
 12 Months Ended
Dec. 31, 2024
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name The Cheesecake Factory Incorporated
Entity Central Index Key 0000887596
v3.25.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Jan. 02, 2024
Jan. 03, 2023
Dec. 28, 2021
Dec. 29, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Performance
Pursuant to Item 402(v) of Regulation S-K promulgated under the Exchange Act, we are providing the Company’s “pay versus performance” disclosure below. This disclosure has been prepared in accordance with Item 402(v) and does not necessarily reflect value actually realized by the executives or how our Compensation Committee evaluates compensation decisions in light of Company or individual performance. The use of the term “compensation actually paid” ​(“CAP”) is required by the SEC’s rules. Per SEC rules, CAP was created by adjusting the Summary Compensation Table (“SCT”) total values for the applicable year as described in the footnotes to the following table. Please refer to our Compensation Discussion and Analysis section for a discussion of our executive compensation program objectives and the ways in which we align executive compensation with performance.
The following table sets forth information concerning the compensation of our Named Executive Officers (“NEOs”) for each of the fiscal years ended December 29, 2020; December 28, 2021; January 3, 2023; January 2, 2024; and December 31, 2024, and our financial performance for each such fiscal year:
​ ​
(a)
​ ​ ​
(b)
​ ​ ​
(c)
​ ​ ​
(d)
​ ​ ​
(e)
​ ​ ​
(f)
​ ​ ​
(g)
​ ​ ​
(h)
​ ​ ​
(i)
​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Value of Initial Fixed
$100 Investment Based on:
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ Fiscal
Year(1) 		​ ​ ​
Summary
Compensation
Table
Total
for PEO
($)
​ ​ ​
CAP to PEO
($)(2)
​ ​ ​
Average
SCT Total
for Non-PEO
NEOs
($)
​ ​ ​
Average
CAP to
Non-PEO
NEOs
($)(2)
​ ​ ​
Total
Shareholder
Return
($)
​ ​ ​
Peer Group
Total
Shareholder
Return
($)(3)
​ ​ ​
Net Income
(millions $)
​ ​ ​
Company
Selected
Measure:
Adjusted
EBITDAR
(millions $)(4)
​ ​
​ ​ 2024 ​ ​ ​ ​ ​ 8,163,835 ​ ​ ​ ​ ​ ​ 14,891,351 ​ ​ ​ ​ ​ ​ 2,133,141 ​ ​ ​ ​ ​ ​ 3,357,423 ​ ​ ​ ​ ​ ​ 134.32 ​ ​ ​ ​ ​ ​ 139.43 ​ ​ ​ ​ ​ ​ 157 ​ ​ ​ ​ ​ ​ 575 ​ ​ ​
​ ​ 2023 ​ ​ ​ ​ ​ 7,658,919 ​ ​ ​ ​ ​ ​ 7,434,904 ​ ​ ​ ​ ​ ​ 1,953,855 ​ ​ ​ ​ ​ ​ 1,881,426 ​ ​ ​ ​ ​ ​ 94.62 ​ ​ ​ ​ ​ ​ 116.21 ​ ​ ​ ​ ​ ​ 101 ​ ​ ​ ​ ​ ​ 498 ​ ​ ​
​ ​ 2022 ​ ​ ​ ​ ​ 7,181,744 ​ ​ ​ ​ ​ ​ 3,567,483 ​ ​ ​ ​ ​ ​ 1,802,879 ​ ​ ​ ​ ​ ​ 1,203,895 ​ ​ ​ ​ ​ ​ 86.27 ​ ​ ​ ​ ​ ​ 97.86 ​ ​ ​ ​ ​ ​ 43 ​ ​ ​ ​ ​ ​ 418 ​ ​ ​
​ ​ 2021 ​ ​ ​ ​ ​ 7,375,204 ​ ​ ​ ​ ​ ​ 8,556,512 ​ ​ ​ ​ ​ ​ 1,877,590 ​ ​ ​ ​ ​ ​ 2,038,099 ​ ​ ​ ​ ​ ​ 103.24 ​ ​ ​ ​ ​ ​ 122.95 ​ ​ ​ ​ ​ ​ 72 ​ ​ ​ ​ ​ ​ 450 ​ ​ ​
​ ​ 2020 ​ ​ ​ ​ ​ 5,914,037 ​ ​ ​ ​ ​ ​ 10,736,376 ​ ​ ​ ​ ​ ​ 1,398,299 ​ ​ ​ ​ ​ ​ 2,123,578 ​ ​ ​ ​ ​ ​ 96.26 ​ ​ ​ ​ ​ ​ 126.30 ​ ​ ​ ​ ​ ​ (253) ​ ​ ​ ​ ​ ​ 173 ​ ​ ​
​
(1)
The Principal Executive Officer (“PEO”) in all five reporting years is our CEO, David Overton. The NEOs in all five reporting years are David M. Gordon, Matthew E. Clark, Scarlett May and Keith T. Carango.
​
(2)
CAP amount to our PEO and NEOs, as shown in columns (c) and (e) above in fiscal 2024 reflects the respective amounts shown in columns (b) and (d) of the table shown above, with adjustments shown below as determined by the SEC rules:
​
​ ​
Year
​ ​ ​
SCT
Total
($)
​ ​ ​
Minus
SCT
Equity
($)
​ ​ ​
Plus (Minus)
End of
Fiscal Year
Fair Value
of Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and Unvested
at End of
Fiscal Year
($)
​ ​ ​
Plus
(Minus)
Change
As of the
End of the
Covered
Fiscal Year
(From the
End of
the Prior
Fiscal Year)
in Fair
Value of
Any
Awards
Granted in
Any Prior
Fiscal Year
That Are
Outstanding
and Unvested
As of the
End of the
Covered
Fiscal Year
($)
​ ​ ​
Plus
(Minus)
Change
As of the
Vesting
Date
(From the
End of
the Prior
Fiscal Year)
in Fair
Value of
Any Awards
Granted in
any Prior
Fiscal Year
for Which
All Applicable
Vesting
Conditions
Were
Satisfied at
the End of
or During the
Covered
Year
($)
​ ​ ​
Plus
Value of
Dividends
or Other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected
in Fair
Value or Total
Compensation
($)
​ ​ ​
Calculated
CAP
($)
​ ​
​ ​ PEO ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ 2024 ​ ​ ​ ​ ​ 8,163,835 ​ ​ ​ ​ ​ ​ 5,700,105 ​ ​ ​ ​ ​ ​ 8,210,763 ​ ​ ​ ​ ​ ​ 3,122,612 ​ ​ ​ ​ ​ ​ 888,954 ​ ​ ​ ​ ​ ​ 205,292 ​ ​ ​ ​ ​ ​ 14,891,351 ​ ​ ​
​ ​ 2023 ​ ​ ​ ​ ​ 7,658,919 ​ ​ ​ ​ ​ ​ 5,600,595 ​ ​ ​ ​ ​ ​ 4,594,289 ​ ​ ​ ​ ​ ​ (93,689) ​ ​ ​ ​ ​ ​ 825,115 ​ ​ ​ ​ ​ ​ 50,865 ​ ​ ​ ​ ​ ​ 7,434,904 ​ ​ ​
​ ​ 2022 ​ ​ ​ ​ ​ 7,181,744 ​ ​ ​ ​ ​ ​ 5,301,316 ​ ​ ​ ​ ​ ​ 4,337,067 ​ ​ ​ ​ ​ ​ (3,049,619) ​ ​ ​ ​ ​ ​ 300,636 ​ ​ ​ ​ ​ ​ 98,971 ​ ​ ​ ​ ​ ​ 3,567,483 ​ ​ ​
​ ​ 2021 ​ ​ ​ ​ ​ 7,375,204 ​ ​ ​ ​ ​ ​ 5,099,931 ​ ​ ​ ​ ​ ​ 3,871,411 ​ ​ ​ ​ ​ ​ 337,172 ​ ​ ​ ​ ​ ​ 2,072,656 ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ 8,556,512 ​ ​ ​
​ ​ 2020 ​ ​ ​ ​ ​ 5,914,037 ​ ​ ​ ​ ​ ​ 4,496,932 ​ ​ ​ ​ ​ ​ 7,717,902 ​ ​ ​ ​ ​ ​ 1,802,588 ​ ​ ​ ​ ​ ​ (201,219) ​ ​ ​ ​ ​ ​ —* ​ ​ ​ ​ ​ ​ 10,736,376 ​ ​ ​
​ ​
Average Non-PEO
NEOs
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ 2024 ​ ​ ​ ​ ​ 2,133,141 ​ ​ ​ ​ ​ ​ 981,549 ​ ​ ​ ​ ​ ​ 1,483,374 ​ ​ ​ ​ ​ ​ 547,549 ​ ​ ​ ​ ​ ​ 141,378 ​ ​ ​ ​ ​ ​ 33,530 ​ ​ ​ ​ ​ ​ 3,357,423 ​ ​ ​
​ ​ 2023 ​ ​ ​ ​ ​ 1,953,855 ​ ​ ​ ​ ​ ​ 948,081 ​ ​ ​ ​ ​ ​ 746,742 ​ ​ ​ ​ ​ ​ (14,144) ​ ​ ​ ​ ​ ​ 132,562 ​ ​ ​ ​ ​ ​ 10,492 ​ ​ ​ ​ ​ ​ 1,881,426 ​ ​ ​
​ ​ 2022 ​ ​ ​ ​ ​ 1,802,879 ​ ​ ​ ​ ​ ​ 904,085 ​ ​ ​ ​ ​ ​ 739,642 ​ ​ ​ ​ ​ ​ (488,921) ​ ​ ​ ​ ​ ​ 38,398 ​ ​ ​ ​ ​ ​ 15,982 ​ ​ ​ ​ ​ ​ 1,203,895 ​ ​ ​
​ ​ 2021 ​ ​ ​ ​ ​ 1,877,590 ​ ​ ​ ​ ​ ​ 869,091 ​ ​ ​ ​ ​ ​ 659,744 ​ ​ ​ ​ ​ ​ 57,936 ​ ​ ​ ​ ​ ​ 311,920 ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ 2,038,099 ​ ​ ​
​ ​ 2020 ​ ​ ​ ​ ​ 1,398,299 ​ ​ ​ ​ ​ ​ 736,073 ​ ​ ​ ​ ​ ​ 1,192,739 ​ ​ ​ ​ ​ ​ 293,102 ​ ​ ​ ​ ​ ​ (24,489) ​ ​ ​ ​ ​ ​ —* ​ ​ ​ ​ ​ ​ 2,123,578 ​ ​ ​
Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for solely service-vesting restricted stock awards, the closing price per share on the applicable year-end date(s) or, in the case of vesting dates, the closing price per share on the applicable vesting date(s); (ii) for performance-based restricted stock awards, the same valuation methodology as restricted stock awards above except that the year-end values are multiplied by the probability of achievement of the applicable performance objective as of the applicable date; and (iii) for stock options, a Black Scholes value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life equal to the original ratio of expected life relative to the ten year contractual life multiplied times the remaining life as of the applicable revaluation date, and in all cases based on volatility and risk free rates determined as of the revaluation date based on the expected life period and based on the expected dividend rate as of the date of the applicable revaluation date. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and prior fiscal years.
*
Dividends paid in 2020 are captured in the “All Other Compensation” column of the SCT and thus are not additionally captured in this table.
​
(3)
For the relevant fiscal year, represents the cumulative total shareholder return indexed to an initial investment of  $100 per share of the S&P 600 Restaurants Index on December 30, 2019.
​
(4)
Adjusted EBITDAR is a non-GAAP measure and is defined and reconicled from GAAP net income in Appendix A of this proxy statement.
       
Company Selected Measure Name Adjusted EBITDAR        
Named Executive Officers, Footnote
(1)
The Principal Executive Officer (“PEO”) in all five reporting years is our CEO, David Overton. The NEOs in all five reporting years are David M. Gordon, Matthew E. Clark, Scarlett May and Keith T. Carango.
       
Peer Group Issuers, Footnote
(3)
For the relevant fiscal year, represents the cumulative total shareholder return indexed to an initial investment of  $100 per share of the S&P 600 Restaurants Index on December 30, 2019.
       
PEO Total Compensation Amount $ 8,163,835 $ 7,658,919 $ 7,181,744 $ 7,375,204 $ 5,914,037
PEO Actually Paid Compensation Amount $ 14,891,351 7,434,904 3,567,483 8,556,512 10,736,376
Adjustment To PEO Compensation, Footnote
(2)
CAP amount to our PEO and NEOs, as shown in columns (c) and (e) above in fiscal 2024 reflects the respective amounts shown in columns (b) and (d) of the table shown above, with adjustments shown below as determined by the SEC rules:
​
​ ​
Year
​ ​ ​
SCT
Total
($)
​ ​ ​
Minus
SCT
Equity
($)
​ ​ ​
Plus (Minus)
End of
Fiscal Year
Fair Value
of Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and Unvested
at End of
Fiscal Year
($)
​ ​ ​
Plus
(Minus)
Change
As of the
End of the
Covered
Fiscal Year
(From the
End of
the Prior
Fiscal Year)
in Fair
Value of
Any
Awards
Granted in
Any Prior
Fiscal Year
That Are
Outstanding
and Unvested
As of the
End of the
Covered
Fiscal Year
($)
​ ​ ​
Plus
(Minus)
Change
As of the
Vesting
Date
(From the
End of
the Prior
Fiscal Year)
in Fair
Value of
Any Awards
Granted in
any Prior
Fiscal Year
for Which
All Applicable
Vesting
Conditions
Were
Satisfied at
the End of
or During the
Covered
Year
($)
​ ​ ​
Plus
Value of
Dividends
or Other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected
in Fair
Value or Total
Compensation
($)
​ ​ ​
Calculated
CAP
($)
​ ​
​ ​ PEO ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ 2024 ​ ​ ​ ​ ​ 8,163,835 ​ ​ ​ ​ ​ ​ 5,700,105 ​ ​ ​ ​ ​ ​ 8,210,763 ​ ​ ​ ​ ​ ​ 3,122,612 ​ ​ ​ ​ ​ ​ 888,954 ​ ​ ​ ​ ​ ​ 205,292 ​ ​ ​ ​ ​ ​ 14,891,351 ​ ​ ​
​ ​ 2023 ​ ​ ​ ​ ​ 7,658,919 ​ ​ ​ ​ ​ ​ 5,600,595 ​ ​ ​ ​ ​ ​ 4,594,289 ​ ​ ​ ​ ​ ​ (93,689) ​ ​ ​ ​ ​ ​ 825,115 ​ ​ ​ ​ ​ ​ 50,865 ​ ​ ​ ​ ​ ​ 7,434,904 ​ ​ ​
​ ​ 2022 ​ ​ ​ ​ ​ 7,181,744 ​ ​ ​ ​ ​ ​ 5,301,316 ​ ​ ​ ​ ​ ​ 4,337,067 ​ ​ ​ ​ ​ ​ (3,049,619) ​ ​ ​ ​ ​ ​ 300,636 ​ ​ ​ ​ ​ ​ 98,971 ​ ​ ​ ​ ​ ​ 3,567,483 ​ ​ ​
​ ​ 2021 ​ ​ ​ ​ ​ 7,375,204 ​ ​ ​ ​ ​ ​ 5,099,931 ​ ​ ​ ​ ​ ​ 3,871,411 ​ ​ ​ ​ ​ ​ 337,172 ​ ​ ​ ​ ​ ​ 2,072,656 ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ 8,556,512 ​ ​ ​
​ ​ 2020 ​ ​ ​ ​ ​ 5,914,037 ​ ​ ​ ​ ​ ​ 4,496,932 ​ ​ ​ ​ ​ ​ 7,717,902 ​ ​ ​ ​ ​ ​ 1,802,588 ​ ​ ​ ​ ​ ​ (201,219) ​ ​ ​ ​ ​ ​ —* ​ ​ ​ ​ ​ ​ 10,736,376 ​ ​ ​
​ ​
Average Non-PEO
NEOs
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ 2024 ​ ​ ​ ​ ​ 2,133,141 ​ ​ ​ ​ ​ ​ 981,549 ​ ​ ​ ​ ​ ​ 1,483,374 ​ ​ ​ ​ ​ ​ 547,549 ​ ​ ​ ​ ​ ​ 141,378 ​ ​ ​ ​ ​ ​ 33,530 ​ ​ ​ ​ ​ ​ 3,357,423 ​ ​ ​
​ ​ 2023 ​ ​ ​ ​ ​ 1,953,855 ​ ​ ​ ​ ​ ​ 948,081 ​ ​ ​ ​ ​ ​ 746,742 ​ ​ ​ ​ ​ ​ (14,144) ​ ​ ​ ​ ​ ​ 132,562 ​ ​ ​ ​ ​ ​ 10,492 ​ ​ ​ ​ ​ ​ 1,881,426 ​ ​ ​
​ ​ 2022 ​ ​ ​ ​ ​ 1,802,879 ​ ​ ​ ​ ​ ​ 904,085 ​ ​ ​ ​ ​ ​ 739,642 ​ ​ ​ ​ ​ ​ (488,921) ​ ​ ​ ​ ​ ​ 38,398 ​ ​ ​ ​ ​ ​ 15,982 ​ ​ ​ ​ ​ ​ 1,203,895 ​ ​ ​
​ ​ 2021 ​ ​ ​ ​ ​ 1,877,590 ​ ​ ​ ​ ​ ​ 869,091 ​ ​ ​ ​ ​ ​ 659,744 ​ ​ ​ ​ ​ ​ 57,936 ​ ​ ​ ​ ​ ​ 311,920 ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ 2,038,099 ​ ​ ​
​ ​ 2020 ​ ​ ​ ​ ​ 1,398,299 ​ ​ ​ ​ ​ ​ 736,073 ​ ​ ​ ​ ​ ​ 1,192,739 ​ ​ ​ ​ ​ ​ 293,102 ​ ​ ​ ​ ​ ​ (24,489) ​ ​ ​ ​ ​ ​ —* ​ ​ ​ ​ ​ ​ 2,123,578 ​ ​ ​
Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for solely service-vesting restricted stock awards, the closing price per share on the applicable year-end date(s) or, in the case of vesting dates, the closing price per share on the applicable vesting date(s); (ii) for performance-based restricted stock awards, the same valuation methodology as restricted stock awards above except that the year-end values are multiplied by the probability of achievement of the applicable performance objective as of the applicable date; and (iii) for stock options, a Black Scholes value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life equal to the original ratio of expected life relative to the ten year contractual life multiplied times the remaining life as of the applicable revaluation date, and in all cases based on volatility and risk free rates determined as of the revaluation date based on the expected life period and based on the expected dividend rate as of the date of the applicable revaluation date. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and prior fiscal years.
*
Dividends paid in 2020 are captured in the “All Other Compensation” column of the SCT and thus are not additionally captured in this table.
       
Non-PEO NEO Average Total Compensation Amount $ 2,133,141 1,953,855 1,802,879 1,877,590 1,398,299
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,357,423 1,881,426 1,203,895 2,038,099 2,123,578
Adjustment to Non-PEO NEO Compensation Footnote
(2)
CAP amount to our PEO and NEOs, as shown in columns (c) and (e) above in fiscal 2024 reflects the respective amounts shown in columns (b) and (d) of the table shown above, with adjustments shown below as determined by the SEC rules:
​
​ ​
Year
​ ​ ​
SCT
Total
($)
​ ​ ​
Minus
SCT
Equity
($)
​ ​ ​
Plus (Minus)
End of
Fiscal Year
Fair Value
of Equity
Awards
Granted
During
Fiscal Year
that are
Outstanding
and Unvested
at End of
Fiscal Year
($)
​ ​ ​
Plus
(Minus)
Change
As of the
End of the
Covered
Fiscal Year
(From the
End of
the Prior
Fiscal Year)
in Fair
Value of
Any
Awards
Granted in
Any Prior
Fiscal Year
That Are
Outstanding
and Unvested
As of the
End of the
Covered
Fiscal Year
($)
​ ​ ​
Plus
(Minus)
Change
As of the
Vesting
Date
(From the
End of
the Prior
Fiscal Year)
in Fair
Value of
Any Awards
Granted in
any Prior
Fiscal Year
for Which
All Applicable
Vesting
Conditions
Were
Satisfied at
the End of
or During the
Covered
Year
($)
​ ​ ​
Plus
Value of
Dividends
or Other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected
in Fair
Value or Total
Compensation
($)
​ ​ ​
Calculated
CAP
($)
​ ​
​ ​ PEO ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ 2024 ​ ​ ​ ​ ​ 8,163,835 ​ ​ ​ ​ ​ ​ 5,700,105 ​ ​ ​ ​ ​ ​ 8,210,763 ​ ​ ​ ​ ​ ​ 3,122,612 ​ ​ ​ ​ ​ ​ 888,954 ​ ​ ​ ​ ​ ​ 205,292 ​ ​ ​ ​ ​ ​ 14,891,351 ​ ​ ​
​ ​ 2023 ​ ​ ​ ​ ​ 7,658,919 ​ ​ ​ ​ ​ ​ 5,600,595 ​ ​ ​ ​ ​ ​ 4,594,289 ​ ​ ​ ​ ​ ​ (93,689) ​ ​ ​ ​ ​ ​ 825,115 ​ ​ ​ ​ ​ ​ 50,865 ​ ​ ​ ​ ​ ​ 7,434,904 ​ ​ ​
​ ​ 2022 ​ ​ ​ ​ ​ 7,181,744 ​ ​ ​ ​ ​ ​ 5,301,316 ​ ​ ​ ​ ​ ​ 4,337,067 ​ ​ ​ ​ ​ ​ (3,049,619) ​ ​ ​ ​ ​ ​ 300,636 ​ ​ ​ ​ ​ ​ 98,971 ​ ​ ​ ​ ​ ​ 3,567,483 ​ ​ ​
​ ​ 2021 ​ ​ ​ ​ ​ 7,375,204 ​ ​ ​ ​ ​ ​ 5,099,931 ​ ​ ​ ​ ​ ​ 3,871,411 ​ ​ ​ ​ ​ ​ 337,172 ​ ​ ​ ​ ​ ​ 2,072,656 ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ 8,556,512 ​ ​ ​
​ ​ 2020 ​ ​ ​ ​ ​ 5,914,037 ​ ​ ​ ​ ​ ​ 4,496,932 ​ ​ ​ ​ ​ ​ 7,717,902 ​ ​ ​ ​ ​ ​ 1,802,588 ​ ​ ​ ​ ​ ​ (201,219) ​ ​ ​ ​ ​ ​ —* ​ ​ ​ ​ ​ ​ 10,736,376 ​ ​ ​
​ ​
Average Non-PEO
NEOs
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ 2024 ​ ​ ​ ​ ​ 2,133,141 ​ ​ ​ ​ ​ ​ 981,549 ​ ​ ​ ​ ​ ​ 1,483,374 ​ ​ ​ ​ ​ ​ 547,549 ​ ​ ​ ​ ​ ​ 141,378 ​ ​ ​ ​ ​ ​ 33,530 ​ ​ ​ ​ ​ ​ 3,357,423 ​ ​ ​
​ ​ 2023 ​ ​ ​ ​ ​ 1,953,855 ​ ​ ​ ​ ​ ​ 948,081 ​ ​ ​ ​ ​ ​ 746,742 ​ ​ ​ ​ ​ ​ (14,144) ​ ​ ​ ​ ​ ​ 132,562 ​ ​ ​ ​ ​ ​ 10,492 ​ ​ ​ ​ ​ ​ 1,881,426 ​ ​ ​
​ ​ 2022 ​ ​ ​ ​ ​ 1,802,879 ​ ​ ​ ​ ​ ​ 904,085 ​ ​ ​ ​ ​ ​ 739,642 ​ ​ ​ ​ ​ ​ (488,921) ​ ​ ​ ​ ​ ​ 38,398 ​ ​ ​ ​ ​ ​ 15,982 ​ ​ ​ ​ ​ ​ 1,203,895 ​ ​ ​
​ ​ 2021 ​ ​ ​ ​ ​ 1,877,590 ​ ​ ​ ​ ​ ​ 869,091 ​ ​ ​ ​ ​ ​ 659,744 ​ ​ ​ ​ ​ ​ 57,936 ​ ​ ​ ​ ​ ​ 311,920 ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ 2,038,099 ​ ​ ​
​ ​ 2020 ​ ​ ​ ​ ​ 1,398,299 ​ ​ ​ ​ ​ ​ 736,073 ​ ​ ​ ​ ​ ​ 1,192,739 ​ ​ ​ ​ ​ ​ 293,102 ​ ​ ​ ​ ​ ​ (24,489) ​ ​ ​ ​ ​ ​ —* ​ ​ ​ ​ ​ ​ 2,123,578 ​ ​ ​
Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for solely service-vesting restricted stock awards, the closing price per share on the applicable year-end date(s) or, in the case of vesting dates, the closing price per share on the applicable vesting date(s); (ii) for performance-based restricted stock awards, the same valuation methodology as restricted stock awards above except that the year-end values are multiplied by the probability of achievement of the applicable performance objective as of the applicable date; and (iii) for stock options, a Black Scholes value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life equal to the original ratio of expected life relative to the ten year contractual life multiplied times the remaining life as of the applicable revaluation date, and in all cases based on volatility and risk free rates determined as of the revaluation date based on the expected life period and based on the expected dividend rate as of the date of the applicable revaluation date. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and prior fiscal years.
*
Dividends paid in 2020 are captured in the “All Other Compensation” column of the SCT and thus are not additionally captured in this table.
       
Compensation Actually Paid vs. Total Shareholder Return [MISSING IMAGE: lc_return-bw.jpg]        
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: lc_netincome-bw.jpg]
       
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: lc_adjusted-bw.jpg]
       
Total Shareholder Return Vs Peer Group [MISSING IMAGE: lc_return-bw.jpg]        
Tabular List, Table
Pay Versus Performance Tabular List.   We believe the following performance measures represent the most important financial performance measures used by us to link compensation actually paid to our Named Executive Officers for the fiscal year ended December 31, 2024 to Company performance:
•
Adjusted EBITDAR;
​
•
Revenue growth;
​
•
Adjusted annual earnings per share; and
​
•
Adjusted annual controllable profit.
​
For additional details regarding our most important financial performance measures, please see the section titled “Compensation Discussion and Analysis-Principal Elements of Compensation” in this Proxy Statement.
        
Total Shareholder Return Amount $ 134.32 94.62 86.27 103.24 96.26
Peer Group Total Shareholder Return Amount 139.43 116.21 97.86 122.95 126.3
Net Income (Loss) $ 157,000,000 $ 101,000,000 $ 43,000,000 $ 72,000,000 $ (253,000,000)
Company Selected Measure Amount 575,000,000 498,000,000 418,000,000 450,000,000 173,000,000
PEO Name David Overton        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EBITDAR        
Non-GAAP Measure Description
(4)
Adjusted EBITDAR is a non-GAAP measure and is defined and reconicled from GAAP net income in Appendix A of this proxy statement.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name Revenue growth        
Measure:: 3          
Pay vs Performance Disclosure          
Name Adjusted annual earnings per share        
Measure:: 4          
Pay vs Performance Disclosure          
Name Adjusted annual controllable profit        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (5,700,105) $ (5,600,595) $ (5,301,316) $ (5,099,931) $ (4,496,932)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 8,210,763 4,594,289 4,337,067 3,871,411 7,717,902
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,122,612 (93,689) (3,049,619) 337,172 1,802,588
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 888,954 825,115 300,636 2,072,656 (201,219)
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 205,292 50,865 98,971
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (981,549) (948,081) (904,085) (869,091) (736,073)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,483,374 746,742 739,642 659,744 1,192,739
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 547,549 (14,144) (488,921) 57,936 293,102
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 141,378 132,562 38,398 311,920 (24,489)
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 33,530 $ 10,492 $ 15,982
v3.25.1
Award Timing Disclosure
 12 Months Ended
Dec. 31, 2024
Feb. 15, 2024
USD ($)
$ / shares
Award Timing Disclosures [Line Items]    
Award Timing MNPI Disclosure
Policies And Practices Related To The Grant Of Certain Equity Awards Close In Time To The Release Of Material Nonpublic Information.
We do not grant equity awards in anticipation of the release of material nonpublic information and we do not time the release of material nonpublic information for the purpose of affecting the value of executive compensation.
We maintain our Equity Granting Procedures, which provide that annual equity award grants shall be approved at a regularly scheduled meeting of the Compensation Committee (other than equity awards granted to non-employee directors, which shall be granted immediately following (and on the same day as) the annual meeting of our shareholders, and new hire awards, which may be granted by unanimous written consent) the date on which equity awards are granted shall be on or after the date that the Compensation Committee approves the proposed equity grants and the exercise price for options shall be 100% of the Fair Market Value (as defined in the Stock Plan) of the shares of the Company’s common stock on the grant date. It is the Company’s long-standing practice to grant equity awards, including stock options, at the first regularly scheduled Compensation Committee meeting in February each year and this was the case as well for the grants made on February 15, 2024 shown below.
​ ​
Name
​ ​ ​
Grant Date
​ ​ ​
Number of
Securities
Underlying the
Award
​ ​ ​
Exercise Price
of the Award
($/Share)
​ ​ ​
Grant Date Fair
Value of the
Award
​ ​ ​
Percentage Change in the
Closing Market Price of
the Securities Underlying
the Award Between the
Trading Day Ending
Immediately Prior to the
Disclosure of MNPI and
the Trading Day Beginning
Immediately Following
Disclosure of MNPI
​ ​
​ ​ Matthew E. Clark ​ ​ ​ ​ ​ 2/15/24 ​ ​ ​ ​ ​ ​ 52,230 ​ ​ ​ ​ ​ ​ 34.91 ​ ​ ​ ​ ​ $ 12.45 ​ ​ ​ ​ ​ ​ 1.04% ​ ​ ​
​ ​ David Gordon ​ ​ ​ ​ ​ 2/15/24 ​ ​ ​ ​ ​ ​ 29,130 ​ ​ ​ ​ ​ ​ 34.91 ​ ​ ​ ​ ​ $ 12.45 ​ ​ ​ ​ ​ ​ 1.04% ​ ​ ​
 
Award Timing Method We maintain our Equity Granting Procedures, which provide that annual equity award grants shall be approved at a regularly scheduled meeting of the Compensation Committee (other than equity awards granted to non-employee directors, which shall be granted immediately following (and on the same day as) the annual meeting of our shareholders, and new hire awards, which may be granted by unanimous written consent) the date on which equity awards are granted shall be on or after the date that the Compensation Committee approves the proposed equity grants and the exercise price for options shall be 100% of the Fair Market Value (as defined in the Stock Plan) of the shares of the Company’s common stock on the grant date.  
Award Timing Predetermined true  
Award Timing MNPI Considered false  
Award Timing, How MNPI Considered
We do not grant equity awards in anticipation of the release of material nonpublic information and we do not time the release of material nonpublic information for the purpose of affecting the value of executive compensation.
 
MNPI Disclosure Timed for Compensation Value false  
Awards Close in Time to MNPI Disclosures, Table
​ ​
Name
​ ​ ​
Grant Date
​ ​ ​
Number of
Securities
Underlying the
Award
​ ​ ​
Exercise Price
of the Award
($/Share)
​ ​ ​
Grant Date Fair
Value of the
Award
​ ​ ​
Percentage Change in the
Closing Market Price of
the Securities Underlying
the Award Between the
Trading Day Ending
Immediately Prior to the
Disclosure of MNPI and
the Trading Day Beginning
Immediately Following
Disclosure of MNPI
​ ​
​ ​ Matthew E. Clark ​ ​ ​ ​ ​ 2/15/24 ​ ​ ​ ​ ​ ​ 52,230 ​ ​ ​ ​ ​ ​ 34.91 ​ ​ ​ ​ ​ $ 12.45 ​ ​ ​ ​ ​ ​ 1.04% ​ ​ ​
​ ​ David Gordon ​ ​ ​ ​ ​ 2/15/24 ​ ​ ​ ​ ​ ​ 29,130 ​ ​ ​ ​ ​ ​ 34.91 ​ ​ ​ ​ ​ $ 12.45 ​ ​ ​ ​ ​ ​ 1.04% ​ ​ ​
 
Matthew Clark [Member]    
Awards Close in Time to MNPI Disclosures    
Name   Matthew E. Clark
Underlying Securities   52,230
Exercise Price | $ / shares   $ 34.91
Fair Value as of Grant Date | $   $ 12.45
Underlying Security Market Price Change   1.04
David Gordon [Member]    
Awards Close in Time to MNPI Disclosures    
Name   David Gordon
Underlying Securities   29,130
Exercise Price | $ / shares   $ 34.91
Fair Value as of Grant Date | $   $ 12.45
Underlying Security Market Price Change   1.04
v3.25.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true