CompBrief BY VELARION

Companies Denny's Corp

Denny's (DENN): executive pay, fiscal 2024

Free brief. Every figure links to the company’s own filing.

Velarion Intel: free for 3 days, no card →

Email me Denny's Corp’s executive pay brief as a PDF

You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.

After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.

Also free: The Pay Desk, the weekly executive pay briefing.
CEO total pay$5,257,477CEO Kelli Valade · source
Say-on-pay support94.67%Latest vote · source
CEO vs. named peers31st pct.Of 15 peer CEOs
CEO pay ratio197:1To the median employee · source

CEO pay, last three years

  • $3,427,341FY2022
  • $5,363,088FY2023
  • $5,257,477FY2024

CEO total pay was $5,257,477 in fiscal 2024, down from $5,363,088 in fiscal 2023.

FY2024: salary $938,308 · bonus $0 · stock awards $3,768,506 · option awards $0

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Denny's Corp in fiscal 2024?
As disclosed, Kelli Valade (Chief Executive Officer) was the highest-paid executive at Denny's Corp in fiscal 2024, with total compensation of $5,257,477.
How does Denny's Corp's chief executive pay compare to its disclosed peer group?
As disclosed, Kelli Valade's total compensation ranked at the 31st percentile of Denny's Corp's disclosed peer group.
What is Denny's Corp's CEO-to-median employee pay ratio?
As disclosed, Denny's Corp's CEO-to-median employee pay ratio was 197:1.
How did shareholders vote on Denny's Corp's executive compensation?
As disclosed, 94.67% of shareholders supported Denny's Corp's executive compensation in the latest say-on-pay vote.
How much does Denny's Corp spend in total on board compensation for fiscal 2024?
As disclosed, Denny's Corp reported total board compensation of $1,808,937 for fiscal 2024.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Kelli Valade$938,308$0$3,768,506$0$507,625$0$43,038$5,257,477
Chief Executive Officer
Robert Verostek530,94601,015,4220229,793032,5801,808,741
Executive Vice President and
Gail Myers509,5060975,4650220,514032,1361,737,621
Executive Vice President, Chief Legal &
David Schmidt505,96201,133,47800029,5531,668,993
President, Keke’s, Inc.
Christopher Bode133,846650,000610,409072,518017,7181,484,491
President and Chief Operating Officer,

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2024 totalFY2023 totalFY2022 totalΔ FY2023→2024
Kelli Valade$5,257,477$5,363,088$3,427,341↓ −105,611
Robert Verostek1,808,7411,835,0591,626,883↓ −26,318
Gail Myers1,737,6211,753,4931,477,273↓ −15,872
David Schmidt1,668,993———
Christopher Bode1,484,491294,2311,598,067↑ +1,190,260

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

The Company designs its executive compensation program to drive the creation of long-term stockholder value by tying compensation to the achievement of performance goals that promote stockholder value and by designing compensation to attract and retain high-caliber executives in a competitive market for talent. Total direct compensation is comprised of a mix of variable and fixed compensation that is heavily weighted toward variable performance-based compensation.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFW Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2024

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Gail MyersPSU2024-01-3018,51737,034—74,068$573,286
Kelli ValadeRSU2024-01-30——143,701—1,553,751
Christopher BodeRSU2024-09-30——94,637—610,409
Gail MyersRSU2024-01-30——37,033—402,178
David SchmidtPSU2024-01-3021,51743,033—86,066666,151
David SchmidtRSU2024-01-30——43,032—467,328
Kelli ValadePSU2024-01-3071,536143,072—286,1442,214,755
Robert VerostekRSU2024-01-30——38,550—418,653
Robert VerostekPSU2024-01-3019,27638,551—77,102596,769

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Gail Myers$402,178$573,286$058.8%
Kelli Valade1,553,7512,214,755058.8%
Christopher Bode610,409000.0%
David Schmidt467,328666,151058.8%
Robert Verostek418,653596,769058.8%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2024

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Gail MyersRSU11,905—$69,882
Robert VerostekRSU12,512—73,445
Gail MyersRSU24,689—144,924
Robert VerostekRSU25,700—150,859
Gail MyersPSU35,715—209,647
Gail MyersPSU37,034—217,390
Robert VerostekPSU37,537—220,342
Robert VerostekPSU38,551—226,294
Kelli ValadeRSU46,429—272,538
Kelli ValadeRSU95,381—559,886
Kelli ValadePSU139,286—817,609
Kelli ValadePSU143,072—839,833
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Brenda J. LauderbackIndependent · Board Chair · Audit and Finance · Compensation and Incentives · Corporate Governance and Nominating · Not standing for re-election$174,000$165,001———$339,001
José M. GutiérrezIndependent · Audit and Finance (Chair) · Compensation and Incentives129,000110,001———239,001
Gregg R. DedrickIndependent · Audit and Finance · Compensation and Incentives (Chair)122,500110,001———232,501
Bernadette S. AulestiaIndependent · Corporate Governance and Nominating (Chair)111,000110,001———221,001
Laysha WardIndependent · Compensation and Incentives · Corporate Governance and Nominating · Not standing for re-election104,500110,001———214,501
Olu BeckIndependent · Audit and Finance99,000110,001———209,001
John C. MillerNot independent87,500110,001———197,501
Mark R. VondrasekIndependent · Partial-year service52,154104,276———156,430
Kelli F. ValadeEmployee director—————0

Board fee structure and ownership guideline

Annual cash retainer$80,000
Annual equity retainer$110,000
Per board meeting fee$1,500
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 15,000
Stock ownership guidelineIn addition, the Board has enacted a number of policies – including share ownership requirements, incentive clawbacks, the elimination of employment contracts and the elimination of tax gross-ups

Total cost of the board

ComponentFY2024
Cash retainers and fees$879,654
Equity awards (grant-date value)$929,283
All other compensation$0
Total cost of the board$1,808,937

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Denny's as a peer

Companies that benchmark against DENN

12 companies name DENN as a compensation peer

The list of companies that name DENN as a peer is temporarily unavailable — recheck shortly.

Disclosed peer group — fiscal year 2024

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

Of the companies Denny's Corp names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Denny's Corp.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Wingstop Inc.2025Michael Skipworth$959,231$32,590,697$0$1,708,800$35,288,595
2Texas Roadhouse, Inc.2025Gerald Morgan1,356,5388,410,9280909,41310,822,133
3Brinker International, Inc.2026Kevin Hochman1,061,7317,049,88302,543,61610,679,756
4The Cheesecake Factory Incorporated2025David Overton1,030,0005,902,124—1,445,6058,419,852
5Shake Shack Inc.2025Robert Lynch1,000,0005,000,16101,011,7507,210,818
6Cracker Barrel Old Country Store, Inc.2026Julie Masino1,030,0003,476,1871,158,7381,031,9316,928,561
7Bloomin' Brands, Inc.2025Michael Spanos1,000,0003,333,33701,155,0005,495,861
8Dine Brands Global, Inc.2025John Peyton1,000,0002,213,57702,158,5005,417,315
9Jack in the Box, Inc.2025Lance Tucker624,0383,636,0950310,5215,271,591
10Denny's Corp2024Kelli Valade938,3083,768,5060507,6255,257,477
11El Pollo Loco Holdings, Inc.2025Elizabeth Williams750,9501,434,000717,000581,1623,539,320
12BJ's Restaurants, Inc.2025Lyle Tick710,7691,567,179319,590637,1433,441,781
13Red Robin Gourmet Burgers, Inc.2025David Pace510,5771,567,000—1,169,4943,252,947
14Noodles & Company2025Joseph Christina407,116388,700082,569889,720
—Fiesta Restaurant Group, Inc.——————not in coverage universe
—Potbelly Corporation——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Denny's Corpnot disclosedPSU 50 · RSU 50not disclosedFW Cook
BJ's Restaurants, Inc.100%PSU 60 · RSU 20 · Option 20Yes — Relative Total Shareholder Return (TSR)Frederic W. Cook & Co., Inc.
Bloomin' Brands, Inc.66%PSU 67 · RSU 33NoFW Cook
Brinker International, Inc.not disclosedPSU 60 · RSU 40Yes — Relative TSRPearl Meyer & Partners
Cracker Barrel Old Country Store, Inc.80.15%PSU 50 · RSU 25 · Option 25NoFW Cook
Dine Brands Global, Inc.91.96%not disclosedNoExequity
El Pollo Loco Holdings, Inc.77.5%Option 33.33 · RSA 33.33 · PSU 33.33NoSemler Brossy
Fiesta Restaurant Group, Inc.not disclosednot disclosednot disclosednot disclosed
Jack in the Box, Inc.47.6%PSU 50 · RSU 50NoMeridian Compensation Partners
Noodles & Companynot disclosedPSU 60 · RSU 40NoFW Cook
Potbelly Corporationnot disclosednot disclosednot disclosednot disclosed
Red Robin Gourmet Burgers, Inc.103.96%not disclosedYes — Relative TSRMeridian Compensation Partners, LLC
Shake Shack Inc.67.5%PSU 60 · RSU 40NoPearl Meyer & Partners
Texas Roadhouse, Inc.65%not disclosedNoFW Cook
The Cheesecake Factory Incorporated100.25%PSU 50 · RSU 50NoFW Cook
Wingstop Inc.142%PRSU 60 · RSU 40NoFW Cook

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-05-1440,824,4152,299,30243,47494.67%Passed
20242024-05-1544,148,3231,246,09723,46197.25%Passed
20232023-05-1746,422,4241,398,49723,64897.08%Passed
20222022-05-1853,200,9151,117,52627,61697.94%Passed
20212021-05-1950,452,3482,546,558150,58895.2%Passed
20202020-05-2043,207,6631,234,6533,214,17797.22%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20252025-05-1494.67%a
20242024-05-1597.25%b
20232023-05-1797.08%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will be counted for purposes of determining whether a quorum has been reached, but will not be counted in determining the number of shares voted "for" or "against" any director-nominee or on any other proposal, and therefore will not affect the outcome of any proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will be counted for purposes of determining whether a quorum has been reached, but will not be counted in determining the number of shares voted "for" or "against" any director-nominee or on any other proposal, and therefore will not affect the outcome of any proposal.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will be counted for purposes of determining whether a quorum has been reached, but will not be counted in determining the number of shares voted "for" or "against" any director-nominee or on any other proposal, and therefore will not affect the outcome of any proposal.”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)197 : 1
CEO total compensation$5,257,477
Median employee compensation$26,746
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (54 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Kelli Valade. DEF 14A, filed 2025-04-03. Section “B. 2024 Summary Compensation Table” · page 43. As printed: 5,257,477. View filing ↗
  • Section 01, Robert Verostek. DEF 14A, filed 2025-04-03. Section “B. 2024 Summary Compensation Table”. As printed: 1,808,741. View filing ↗
  • Section 01, Gail Myers. DEF 14A, filed 2025-04-03. Section “B. 2024 Summary Compensation Table”. As printed: 1,737,621. View filing ↗
  • Section 01, David Schmidt. DEF 14A, filed 2025-04-03. Section “B. 2024 Summary Compensation Table”. As printed: 1,668,993. View filing ↗
  • Section 01, Christopher Bode. DEF 14A, filed 2025-04-03. Section “B. 2024 Summary Compensation Table”. As printed: 1,484,491. View filing ↗
  • Section 03, Gail Myers PSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Kelli Valade RSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Christopher Bode RSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Gail Myers RSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Schmidt PSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, David Schmidt RSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Kelli Valade PSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Robert Verostek RSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Robert Verostek PSU. DEF 14A, filed 2025-04-03. Section “C.   2024 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2025-04-03. Section “CEO Pay Ratio”. As printed: 197 : 1. View filing ↗
  • Section 08, Brenda J. Lauderback. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 339,001. View filing ↗
  • Section 08, José M. Gutiérrez. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 239,001. View filing ↗
  • Section 08, Gregg R. Dedrick. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 232,501. View filing ↗
  • Section 08, Bernadette S. Aulestia. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 221,001. View filing ↗
  • Section 08, Laysha Ward. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 214,501. View filing ↗
  • Section 08, Olu Beck. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 209,001. View filing ↗
  • Section 08, John C. Miller. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 197,501. View filing ↗
  • Section 08, Mark R. Vondrasek. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 156,430. View filing ↗
  • Section 08, Kelli F. Valade. DEF 14A, filed 2025-04-03. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-05-16. Item 5.07 · say-on-pay result. As reported: 94.67% (votes for as printed: 40,824,415). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-05-17. Item 5.07 · say-on-pay result. As reported: 97.25% (votes for as printed: 44,148,323). View filing ↗
  • Section 06, 2023 vote. Form 8-K, filed 2023-05-19. Item 5.07 · say-on-pay result. As reported: 97.08% (votes for as printed: 46,422,424). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 879,654 + equity 929,283 + all other 0 = 1,808,937, summed across the director compensation table rows.
  • Wingstop Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Wingstop Inc.'s own proxy. As printed: 35,288,595. View filing ↗
  • Texas Roadhouse, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Texas Roadhouse, Inc.'s own proxy. As printed: 10,822,133. View filing ↗
  • Brinker International, Inc., Section 10b CEO total. DEF 14A, filed 2026-09-25. CEO total compensation as printed in Brinker International, Inc.'s own proxy. As printed: 10,679,756. View filing ↗
  • The Cheesecake Factory Incorporated, Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in The Cheesecake Factory Incorporated's own proxy. As printed: 8,419,852. View filing ↗
  • Shake Shack Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Shake Shack Inc.'s own proxy. As printed: 7,210,818. View filing ↗
  • Cracker Barrel Old Country Store, Inc., Section 10b CEO total. DEF 14A, filed 2026-10-06. CEO total compensation as printed in Cracker Barrel Old Country Store, Inc.'s own proxy. As printed: 6,928,561. View filing ↗
  • Bloomin' Brands, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-03. CEO total compensation as printed in Bloomin' Brands, Inc.'s own proxy. As printed: 5,495,861. View filing ↗
  • Dine Brands Global, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Dine Brands Global, Inc.'s own proxy. As printed: 5,417,315. View filing ↗
  • Jack in the Box, Inc., Section 10b CEO total. DEF 14A, filed 2026-01-21. CEO total compensation as printed in Jack in the Box, Inc.'s own proxy. As printed: 5,271,591. View filing ↗
  • Denny's Corp (subject), Section 10b CEO total. DEF 14A, filed 2025-04-03. CEO total compensation as printed in Denny's Corp's own proxy. As printed: 5,257,477. View filing ↗
  • El Pollo Loco Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in El Pollo Loco Holdings, Inc.'s own proxy. As printed: 3,539,320. View filing ↗
  • BJ's Restaurants, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in BJ's Restaurants, Inc.'s own proxy. As printed: 3,441,781. View filing ↗
  • Red Robin Gourmet Burgers, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Red Robin Gourmet Burgers, Inc.'s own proxy. As printed: 3,252,947. View filing ↗
  • Noodles & Company, Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Noodles & Company's own proxy. As printed: 889,720. View filing ↗
  • Section 10a, Shake Shack Inc. reciprocity. DEF 14A. Shake Shack Inc.'s most recent proxy was read; its disclosed peer group does not include Denny's Corp. View filing ↗
  • Section 10a, Texas Roadhouse, Inc. reciprocity. DEF 14A. Texas Roadhouse, Inc.'s most recent proxy was read; its disclosed peer group does not include Denny's Corp. View filing ↗
  • Section 10a, BJ's Restaurants, Inc. reciprocity. DEF 14A. BJ's Restaurants, Inc. names Denny's Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Red Robin Gourmet Burgers, Inc. reciprocity. DEF 14A. Red Robin Gourmet Burgers, Inc. names Denny's Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Cracker Barrel Old Country Store, Inc. reciprocity. DEF 14A. Cracker Barrel Old Country Store, Inc.'s most recent proxy was read; its disclosed peer group does not include Denny's Corp. View filing ↗
  • Section 10a, Brinker International, Inc. reciprocity. DEF 14A. Brinker International, Inc.'s most recent proxy was read; its disclosed peer group does not include Denny's Corp. View filing ↗
  • Section 10a, Bloomin' Brands, Inc. reciprocity. DEF 14A. Bloomin' Brands, Inc.'s most recent proxy was read; its disclosed peer group does not include Denny's Corp. View filing ↗
  • Section 10a, Wingstop Inc. reciprocity. DEF 14A. Wingstop Inc.'s most recent proxy was read; its disclosed peer group does not include Denny's Corp. View filing ↗
  • Section 10a, Dine Brands Global, Inc. reciprocity. DEF 14A. Dine Brands Global, Inc. names Denny's Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Noodles & Company reciprocity. DEF 14A. Noodles & Company's most recent proxy was read; its disclosed peer group does not include Denny's Corp. View filing ↗
Get the full report — $500