GENK GEN Restaurant Group Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 25, 2024

GEN Restaurant Group, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware	001-41727	87-3424935
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
11480 South Street, Suite 205 Cerritos, CA		90703
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (562) 356-9929

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common stock, par value $0.001 per share		GENK		The Nasdaq Stock Market LLC (The Nasdaq Global Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors: Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 24, 2024, the Board of of Directors (the "Board") of GEN Restaurant Group, Inc. (the "Company"), following the recommendation of the Nominating and Corporate Governance Committee of the Board, increased the size of the Board from four (4) directors to five (5) directors and appointed Mr. David Park as a director to fill the resulting vacancy with his term expiring at the Company's 2026 annual meeting of stockholders and until his successor has been elected and qualified, subject, however, to his earlier death, resignation, retirement, disqualification or removal. Mr. Park has been appointed to the Audit Committee of the Board. The Board determined that Mr. Park is an independent director in accordance with the applicable rules of The Nasdaq Stock, LLC and otherwise meets all applicable requirements to serve on the Audit Committee, including the applicable rules and regulations of the Securities and Exchange Commission.

Biographical information for Mr. Park is as follows:

Mr. Park, age 49, bring to the Board more than two decades of experience in capital markets and extensive M&A experience. Since 2021, Mr. Park has served as the founder and chief investment officer of Alpha Park Partners, a long-term oriented investment fund based in New York. From 2011 until founding Alpha Park Partners, he was Managing Director of Tiger Asia Management, LLC (now known as Archegos Capital Management, L.P.), an investment management firm. He has also held a variety of senior roles analyzing both public equity investments and private equity M&A transactions for notable firms, including Rockwood Capital, AEW Capital, and Maverick Capital, as well as previously working in the investment banking division of Goldman Sachs. Mr. Park holds an MBA from The Wharton School of the University of Pennsylvania.

Mr. Park's strong academic background and business experience has led the Board to conclude that he is qualified to serve on the Board.

Mr. Park's compensation will be consistent with compensation provided to all of the Company's non-employee directors.

No arrangement of understanding exists between Mr. Park and any other person pursuant to which Mr. Park was appointed as director. There are no transactions in which Mr. Park has an interest which would require disclosure under Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

 

Exhibit Number		Description
99.1		Press Release of GEN Restaurant Group, Inc. dated July 25, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Filed herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

		Company Name
Date: July 25, 2024		By:	/s/ Thomas V. Croal
			Thomas V. Croal
			Chief Financial Officer

 

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GEN Restaurant Group, Inc. Appoints David Park to its Board of Directors

 

CERRITOS, Calif., July 25, 2024 - GEN Restaurant Group, Inc. (“GEN” or the “Company”) (Nasdaq: GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature “grill at your table” experience, has appointed David Park to the board of directors and to serve on the audit committee of the board, effective July 24, 2024. With Mr. Park’s addition, GEN has expanded the board to five total directors with three serving independently.

 

Mr. Park brings to the board more than two decades of experience in the capital markets and extensive M&A experience. Currently, Mr. Park is the founder and chief investment officer of Alpha Park Partners, a long-term oriented investment fund based in New York. He has held a variety of senior roles analyzing both public equity investments and private equity M&A transactions for notable firms, including Archegos Capital, Tiger Asia, Rockwood Capital, AEW Capital, and Maverick Capital, as well as previously working in the investment banking division of Goldman Sachs. Mr. Park holds an MBA from The Wharton School of the University of Pennsylvania.

 

“I’m pleased to have Dave, a seasoned capital markets practitioner with M&A experience, join GEN’s board of directors,” said GEN’s Co-CEO and Chair of the Board David Kim. “As we continue to navigate the capital markets as a public company and execute upon our growth strategy to expand our footprint, we believe Dave’s significant experience in both of these areas will help guide our decision making. On behalf of our entire board, we welcome Dave to the team.”

 

Mr. Park commented on his appointment, “GEN has promising momentum on its side as the team looks to double the Company’s footprint in the next two years and create durable long-term value for shareholders. I have spent the majority of my entire career analyzing public equity investments, and I believe my expertise will be highly valuable to the board on this journey as a public company. I’m excited to be joining the board at this unique inflection point and look forward to providing my support as the Company capitalizes on the significant growth opportunities ahead.”

 

About GEN Restaurant Group, Inc.

​​GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States. Founded in 2011 by two Korean immigrants in Los Angeles, the brand has now grown to 40 company-owned locations where guests serve as their own chefs, preparing meals on embedded grills in the center of each table. The extensive menu consists of traditional Korean and Korean-American food, including high-quality meats, poultry, seafood and mixed vegetables. With its unique culinary experience alongside its modern décor and lively atmosphere, GEN Korean BBQ delivers an engaging and interactive dining experience that appeals to a vast segment of the population. For more information, visit GenKoreanBBQ.com and follow the brand on Facebook and Instagram.

 

Investor Relations Contact:

Cody Slach and Cody Cree

Gateway Group, Inc.

1-949-574-3860

GENK@gateway-grp.com

 

Media Relations Contact:

Zach Kadletz and Anna Rutter

Gateway Group, Inc.

1-949-574-3860

GENK@gateway-grp.com

 

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Document and Entity Information	Jul. 25, 2024
Cover [Abstract]
Amendment Flag	false
Entity Central Index Key	0001891856
Document Type	8-K
Document Period End Date	Jul. 25, 2024
Entity Registrant Name	GEN Restaurant Group, Inc.
Entity Incorporation State Country Code	DE
Entity File Number	001-41727
Entity Tax Identification Number	87-3424935
Entity Address, Address Line One	11480 South Street
Entity Address, Address Line Two	Suite 205
Entity Address, City or Town	Cerritos
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90703
City Area Code	(562)
Local Phone Number	356-9929
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Class A Common stock, par value $0.001 per share
Trading Symbol	GENK
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Entity Ex Transition Period	false

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