BJ's Restaurants Inc. has announced an amendment to its shareholder cooperation agreement with Act III Holdings and related parties. The revised agreement extends its expiration date to June 30, 2027, and updates standstill restrictions, allowing Act III and its affiliates to own up to 2,091,011 shares-approximately 9.9% of BJ's outstanding common stock, excluding certain shares held by board member Noah Elbogen. Under the agreement, Act III will vote its shares in line with the board's recommendations on most matters and will collaborate with BJ's management on key company initiatives. Both parties have also agreed not to disparage or litigate against each other, except under specific circumstances.
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