Portillo's Inc. filed a Form 8-K on August 4, 2026, disclosing the appointment of Kevin Kalicak, age 53, as Chief Financial Officer and Treasurer, effective September 7, 2026.

Key Highlights

  • New CFO effective date: Kevin Kalicak will join Portillo's as Chief Financial Officer and Treasurer on September 7, 2026.
  • Predecessor role: Kalicak most recently served as Senior Vice President of Finance for Olive Garden, a unit of Darden Restaurants, Inc.
  • Base salary: The offer letter sets a base salary of $500,000 per year.
  • Annual bonus target: Kalicak is eligible for a target annual bonus of 75% of base salary.
  • Long-Term Incentive Plan target: $750,000, split 50% restricted stock units (RSUs) and 50% Performance Stock Units.
  • Sign-on awards: A one-time cash award of $100,000, a guaranteed 2026 annual incentive payment of $187,500, relocation reimbursement of up to $100,000, and a one-time RSU grant with a grant-date value of $825,000 vesting ratably over three years.
  • Interim CFO transition: Kalicak will succeed Pamela Smith, who has served as Interim Chief Financial Officer since May 20, 2026.

Portillo's CFO Appointment: Compensation Terms and Background

According to the filing, Portillo's Inc. (NASDAQ: PTLO) entered into an offer letter with Kevin Kalicak on August 3, 2026. The company disclosed that Kalicak, 53, will assume the roles of Principal Financial Officer and Principal Accounting Officer when he joins on September 7, 2026. He will succeed Pamela Smith, who has held the interim CFO position since May 20, 2026.

The filing describes Kalicak's professional history as centered at Darden Restaurants, Inc. He served as Darden's Senior Vice President, Finance and Investor Relations from 2021 to 2024, and led Financial Planning and Analysis and Investor Relations for Darden from 2015 to 2021. Most recently, he served as Senior Vice President of Finance for Olive Garden beginning in 2024. He holds a Bachelor of Business Administration in Accounting from Georgia Southern University and a Master of Business Administration with a concentration in Finance from the University of Central Florida.

The company reported that Kalicak's Long-Term Incentive Plan target of $750,000 is comprised of RSUs subject to a 3-year vesting period and Performance Stock Units subject to time- and/or performance-based requirements, each representing 50% of the total. The one-time sign-on RSU grant of $825,000 grant-date value will vest ratably over three years, subject to continued employment through each vesting date. The filing noted that the full text of the offer letter is expected to be filed as an exhibit to the company's Quarterly Report on Form 10-Q for the quarter ending September 27, 2026. The company also disclosed that there are no arrangements, family relationships, or material transactions between Kalicak and any director or executive officer of the company.

What Was Disclosed

Portillo's Inc. disclosed the appointment of Kevin Kalicak as CFO and Treasurer effective September 7, 2026, along with the full terms of his offer letter, including salary, bonus targets, long-term incentive awards, and sign-on compensation.