A BJ's Restaurants Director Sells Over 7,500 Company Shares. Here's a Closer Look at the Transaction.
Key Points
Director Noah Elbogen disposed of 7,535 shares at $70.14 per share for a total value of ~$529,000 on August 10, 2026.
The transaction reduced the director's total direct equity holdings by 10%.
Following the sale, Elbogen maintains direct ownership of 71,655 shares of common stock.
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Noah A. Elbogen, a member of the Board of Directors at BJ's Restaurants, Inc. (NASDAQ:BJRI), sold 7,535 shares of common stock on August 10, 2026, according to a recent SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Transaction value | ~$529,000 |
| Shares sold | 7,535 |
| Post-transaction shares (directly held) | 71,655 |
| Post-transaction value | $4.92 million |
Transaction value based on SEC Form 4 weighted average sale price ($70.14); post-transaction value based on August 10, 2026 market close ($68.65).
Key questions
- What is the scale of this transaction relative to the director's total equity holdings?
The disposal of 7,535 shares reduced the director's direct ownership by 10%, leaving a remaining position of 71,655 shares. - How does the current market price compare to the execution price of this trade?
The director sold shares at $70.14 per share, while the stock was priced at $67.53 as of the August 11, 2026 market close. - Does the director maintain ongoing exposure to company performance?
Noah Elbogen maintains a direct position valued at $4.92 million as of the August 10, 2026 market close and also holds derivative securities, including 2,955 unvested restricted stock units.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-08-11) | $67.53 |
| Market Capitalization | $1.4 billion |
| Revenue (TTM) | $1.4 billion |
| Net Income (TTM) | $40.9 million |
Company Snapshot
- BJ's Restaurants operates a network of casual dining establishments offering a diverse menu that includes pizzas, craft and traditional beers, appetizers, main courses, pasta dishes, sandwiches, signature salads, and desserts across 29 states.
- The company generates revenue through company-operated restaurants that serve food and beverage to customers seeking casual dining experiences, with a business model centered on high-volume customer traffic and menu diversification.
- BJ's primary customers are families and individuals seeking casual dining experiences, with a target market encompassing middle-income consumers across the United States who value diverse menu offerings and value-oriented pricing.
BJ's Restaurants operates a substantial casual dining footprint with approximately 213 restaurants generating $1.4 billion in trailing 12-month revenue. The company maintains competitive positioning through menu diversification, craft beverage offerings, and geographic expansion across 29 states, serving a broad consumer base with approximately 22,230 employees supporting operations.
What this transaction means for investors
The Aug. 10 sale of BJ's Restaurants stock for $70.14 by longtime Board member Noah Elbogen came not long after shares hit a 52-week high of $74.60 on July 30. Given the disposal was executed after a 104% one-year total return on the stock, it makes sense Elbogen would capitalize on the price appreciation to lock in some gains.
While he sold about 10% of his direct holdings, Elbogen still retained over 70,000 shares post-transaction, which ensures continued alignment with shareholder interests.
BJ's stock surged thanks to strong business performance. The company generated $388.9 million in revenue during the second quarter, representing a 6% year-over-year increase.
The growth was helped by rising same-store sales , which jumped 6.5% year over year. These excellent results led to BJ's raising its full-year financial guidance. The company also repurchased and retired 64,000 shares, contributing to the share price increase.
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Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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