We operate within a comprehensive corporate governance structure that includes the highest standards of professional and personal conduct. The corporate governance principles and practices at Jack in the Box Inc. specify the policies and procedures for making decisions on corporate affairs. Key to this system is an active board of directors that provides oversight on issues ranging from an effective corporate ethics program to executive succession planning and strategic planning. To remain objective and effective, the board's outside directors meet regularly without management present. Our corporate Governance Principles and Practices, our ethics Code of Conduct, the charters for our Audit Committee, Compensation Committee, Finance Committee and Nominating and Governance Committee and other corporate governance information are available on this page.
Jack in the Box Inc. focuses on enhancing shareholder value through increased executive accountability and alignment of our executives’ long-term financial interests with those of our shareholders by requiring them to maintain a personal stake in the company's common stock.
Prior to 2011, the executive stock ownership program included one-time grants of restricted stock that were required to be held until the executive’s termination of service with the Company. Since fiscal 2011, executives have been granted time-vested restricted stock units (RSUs) that include a share holding requirement until termination of service.
Executives are subject to stock ownership requirements based on a multiple of their salary. They are required to hold until their separation 100% of the shares issued from each RSU grant after it vests if their stock ownership requirements are not met, and they are required to hold until separation 50% of the shares issued from each RSU grant after it vests if they have met their stock ownership requirements. Holding requirements are applied on an after-tax net share basis.
Code of Conduct
Jack in the Box is committed to establishing and maintaining an effective compliance program that is intended to increase the likelihood of preventing, detecting, and correcting violations of law or Company policy. In 1998, the Company adopted a Code of Conduct (the “Code”) which is applicable to all officers, and employees, as well as to our Board of Directors. The Code is available at this link.
To help ensure that the same high standards governing the company's corporate affairs extend to each Jack in the Box restaurant, guests are encouraged to discuss their dining experience with a restaurant manager. If an issue related to products or customer service persists or if guests wish to have further discussions with a representative from the company's corporate office, they may contact Guest Relations. The company's Guest Relations department, which has been recognized as being prompt, responsive and effective, can be reached via the Contact Jack in the Box link.