The head of a major Louisville-based restaurant chain is forgoing his base salary for the remainder of the year to pay frontline workers amid the coronavirus pandemic.
Kent Taylor, the founder and chief executive officer of Texas Roadhouse, has chosen to forgo his base salary and incentive bonus from the March 18 to Jan. 7, 2021 pay period, according to a company filing with the Securities and Exchange Commission Tuesday.
All of that money “will be made available to assist front-line hourly restaurant employees,” according to the filing.
According to a separate filing with the Securities and Exchange Commission, Taylor made $1.36 million in total compensation for the 2018 fiscal year.
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Taylor, 63, founded Texas Roadhouse in 1993 with the opening of the first Texas Roadhouse restaurant in Clarksville, Indiana. The chain now has more than 500 restaurants across the United States.
Texas Roadhouse’s stock (NASDAQ: TXRH) has rebounded over the past week after taking a hit. While the stock tumbled to a one-year low of $30.41 per share on March 18, it opened at $45.43 per share on Thursday.