2 unchanged sentences
Our exposure to interest rate fluctuations is limited to our outstanding bank debt.
−Removed: The terms of the credit facility require us to pay interest on outstanding borrowings at the Term Secured Overnight Financing Rate ("SOFR"), plus a fixed adjustment of 0.10% and a variable adjustment of 0.875% to 1.875% depending on our leverage ratio.
+Added: The terms of the credit facility require us to pay interest on outstanding borrowings at the Term Secured Overnight Financing Rate ("SOFR"), plus a fixed adjustment of 0.10% and a variable adjustment of 1.00% to 1.75% depending on our consolidated net leverage ratio.
As of December 30, 2025, we had no outstanding borrowings on our credit facility.
5 unchanged sentences
Additionally, if there is a time lag between the increasing commodity prices and our ability to increase menu prices or if we believe the commodity price increase to be short in duration and we choose not to pass on the cost increases, our short-term financial results could be negatively affected.
−Removed: We are subject to business risk as our beef supply is highly dependent upon four vendors.
−Removed: If these vendors are unable to fulfill their obligations under their contracts, we may encounter supply shortages and/or higher costs to secure adequate supply and a possible loss of sales, any of which would harm our business.
+Added: We are subject to business risk as our beef supply is highly dependent upon four vendors that represent a significant portion of the total beef marketplace.
+Added: If any of these vendors are unable to fulfill their obligations under their contracts, we could encounter supply shortages and/or incur higher costs to secure adequate supplies, either of which would harm our business.
FINANCIAL STATEMENTS AND SUPPLEMENTARY FINANCIAL DATA
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.