EL POLLO LOCO HOLDINGS, INC. (NASDAQ:LOCO) Files An 8-K Other Events
Item 8.01 Other Events.

As previously disclosed by the registrant in its Current Reports on Form 8-K filed on March 31 and April 5, 2017, on March 29, 2017, due to the resignation of an independent director, a compliance deficiency occurred with NASDAQ Stock Market Rule 5605(b)(1) requiring a majority independent board. The registrant considered four of its eight remaining directors to be independent. The registrant notified The Nasdaq Stock Market LLC (the “NASDAQ”) of the deficiency, and to Rule 5605(b)(1)(A) had until September 25, 2017 to cure.

On September 8, 2017, the board found, upon consideration of the facts and circumstances, and in the exercise of its reasonable business judgment, that existing director John M. Roth did not have any relationship which would interfere with his exercise of independent judgment in carrying out the responsibilities of a director, and therefore determined that he met the definition for independence under Rule 5605(a)(2). Accordingly, of the registrant’s eight directors, five are considered independent, and the registrant has cured its deficiency within the cure period and now satisfies the NASDAQ rule for a majority independent board. On September 12, 2017, the registrant notified the NASDAQ of the same and on September 13, 2017, the NASDAQ confirmed that the registrant had regained compliance with the rule.

As an independent director, Mr. Roth qualifies to begin to receive the same compensation as is received by other independent directors of the registrant for their services, including (i) an annual cash retainer fee of $50,000, paid quarterly, and (ii) an annual grant of restricted shares with grant date value of $50,000. The registrant also pays independent directors fees for committee service; no decision has been made at this time regarding Mr. Roth joining any committees.

About EL POLLO LOCO HOLDINGS, INC. (NASDAQ:LOCO)

El Pollo Loco Holdings, Inc. is a restaurant concept that offers fire-grilling citrus-marinated chicken. The Company operates in the limited service restaurant segment. The Company’s activities are conducted through its subsidiary, El Pollo Loco, Inc. (EPL), which develops, franchises, licenses and operates quick-service restaurants under the name El Pollo Loco. The restaurants are located in California, Arizona, Nevada, Texas and Utah. The Company offers flame-grilled chicken in a range of contemporary Mexican-influenced entrees, including specialty chicken burritos, chicken quesadillas, chicken tortilla soup, Pollo Bowls and Pollo Salads. The Company operates approximately 190 and franchises over 250 El Pollo Loco restaurants. In addition, the Company licenses approximately two restaurants in the Philippines. The Company serves individual and family-sized chicken meals, a range of Mexican-inspired entrees and sides. It offers alternative proteins, such as shrimp, carnitas and beef.