O'Charley's Inc. (NASDAQ/NM: CHUX), a leading casual-dining restaurant company, previously announced on May 30, 2007 that Michael K. Ellis had been named as the company's chief development officer.
Mr. Ellis joined the Company on June 4, 2007. Consistent with the Company's philosophy of aligning the interests of its management with those of its shareholders, the Company has granted Mr. Ellis restricted stock awards for an aggregate of 10,000 shares of the Company's common stock that will vest ratably over three years. These awards constitute inducement awards under NASDAQ Marketplace Rule 4350.
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