STAR BUFFET, INC. (OTCMKTS:STRZ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Principal Officers; Election
of Directors; Appointment of Principal Officers; Compensatory
Arrangement of Certain Officers
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(a) |
Departure of Director |
On April 18, 2017, Mr. Craig Wheaton resigned from his position
as Director of Star Buffet, Inc. (the Company), which resignation
was effective on that date. Mr. Wheatons resignation was not the
result of any disagreement between the Company and him on any
matter relating to the Companys operations, polices or practices.
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(b) |
Election of Director |
On April 18, 2017, the Companys Board of Directors, by unanimous
written consent, elected Mary-Whitney Mamie Wheaton to serve on
the Companys Board of Directors.
Ms. Wheaton is a Certified Financial Planner professional. Since
August 2016, Ms. Wheaton has been employed with LearnVest, a
financial planning company. She currently holds the position of
Manager of Advice Excellence and Brand Voice. Previously, Ms.
Wheaton spent over eight years, beginning in July 2008, with The
Vanguard Group, holding various positions including Senior Wealth
Management Consultant. She has FINRA Series 6, 7 and 63 licenses.
Ms. Wheaton graduated from the University of Arizona in 2008 with
a BA degree in Communications, with a minor in Business. Ms.
Wheaton is the daughter of Robert E. Wheaton, Chairman of the
Board of Directors, Chief Executive Officer and President of the
Company.
Ms. Wheaton will receive $2,000 for each regularly scheduled
board meeting attended, $1,500 for each regularly scheduled
committee meeting attended and $500 for each specially-called
telephonic board or committee meeting. All directors are
reimbursed by the Company for their out-of-pocket travel and
related expenses incurred in attending all Board of Directors and
committee meetings. All non-employee directors are eligible for
stock options grants and equity-based compensation.
About STAR BUFFET, INC. (OTCMKTS:STRZ)
Star Buffet, Inc. is a multi-concept restaurant holding company. As of January 23, 2017, the Company owned and operated 24 full-service restaurants located throughout the United States. As of January 25, 2016, its Barnhill’s Buffets in Arkansas was approximately 10,000 square feet and seat approximately 375 customers; 4B’s restaurants were approximately 4,000 to 5,500 square feet in size and seat approximately 110 to 175 customers; JB’s restaurants were approximately 4,000 to 5,500 square feet in size and seat approximately 110 to 175 customers; Pecos Diamond Steakhouse and Bar-H Steakhouse were each approximately 5,000 square feet with seating capacity for 150 customers; Casa Bonita facility was approximately 52,000 square feet with seating capacity for approximately 1,400 customers; BuddyFreddys was approximately 9,000 square feet and seats approximately 300 customers, and Western Sizzlin restaurant was approximately 7,000 square feet and seats approximately 250 customers. STAR BUFFET, INC. (OTCMKTS:STRZ) Recent Trading Information
STAR BUFFET, INC. (OTCMKTS:STRZ) closed its last trading session 00.00 at 1.42 with 300 shares trading hands.