Filing Analysis
The Hackett Group entered into a Fourth Amended and Restated Credit Agreement on August 3, 2026, extending the maturity of its revolving credit facility to August 3, 2031. The amendment increases total borrowing capacity by $25 million, bringing the aggregate limit to $125 million.
🚩 Red Flags
- Existing debt load: $81 million outstanding against a $125 million limit (approx. 65% utilization).
📋 Key Facts
- Entered into Fourth Amended and Restated Credit Agreement on August 3, 2026.
- Increased aggregate borrowing capacity from $100 million to $125 million (+$25 million).
- Maturity date extended to August 3, 2031.
- Current outstanding balance as of August 3, 2026: $81.0 million.
- Administrative agent is Bank of America, N.A.
- Interest rates based on Term SOFR or Base Rate plus a margin (initial Term SOFR margin: 1.625%).
- Financial covenants include a minimum consolidated fixed charge coverage ratio of 1.50 to 1.00 and a maximum consolidated leverage ratio of 3.50 to 1.00.
The Hackett Group, Inc. announced its Q3 2025 financial results and a significant expansion of its capital return program. The Board approved an additional $40 million for share repurchases via a Dutch auction tender offer scheduled to begin November 5, 2025.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Company released Q3 fiscal quarter results ended September 26, 2025 (Item 2.02).
- Board approved an additional $40 million for the share repurchase plan.
- A modified 'Dutch auction' tender offer is planned to commence on November 5, 2025.
- The tender offer aims to purchase up to $40 million in value of common stock.
- Tender offer price range is set between $18.30 and $21.00 per share.
The Hackett Group, Inc. has filed an 8-K to announce its consolidated financial results for the second fiscal quarter ended June 27, 2025. The filing serves as a formal announcement of the earnings release issued on August 5, 2025.
📋 Key Facts
- Reporting period: Second fiscal quarter ended June 27, 2025.
- Filing date: August 5, 2025.
- The filing includes a press release (Exhibit 99.1) containing consolidated financial results.
The Hackett Group, Inc. reported its Q1 2025 financial results and the outcomes of its Annual Meeting of Shareholders held on May 1, 2025.
🚩 Red Flags
- Shareholders did not approve the advisory vote on executive officer compensation (Say-on-Pay), indicating potential dissatisfaction with executive pay structures.
📋 Key Facts
- Released consolidated financial results for the first fiscal quarter ended March 28, 2025 (Item 2.02).
- Elected three directors: Ted A. Fernandez, Robert A. Rivero, and Alan T.G. Wix.
- Approved an amendment to the 1998 Stock Option and Incentive Plan to increase share limits by 1,950,000 shares.
- Ratified the appointment of RSM US LLP as independent auditor for fiscal year ending Dec 26, 2025.
- The advisory vote on executive officer compensation failed to receive approval (10,153,565 FOR vs. 12,853,327 AGAINST).
The Hackett Group, Inc. issued a press release regarding its consolidated financial results for the fourth fiscal quarter and full fiscal year ended December 27, 2024.
📋 Key Facts
- Report date: February 18, 2025
- Reporting period: Fourth fiscal quarter and fiscal year ended December 27, 2024
- The filing is pursuant to Item 2.02 (Results of Operations and Financial Condition)
- Financial results were released via press release attached as Exhibit 99.1
The Hackett Group, Inc. filed an 8-K to announce its consolidated financial results for the third fiscal quarter ended September 27, 2024.
📋 Key Facts
- Reporting period: Third fiscal quarter ended September 27, 2024.
- Filing date: November 4, 2024.
- The filing includes a press release (Exhibit 99.1) detailing the financial results.
The Hackett Group announced a significant one-time grant of performance-based restricted stock units (RSUs) to executives and select employees to incentivize long-term stock price outperformance. This initiative is tied to the company's strategic pivot toward generative AI consulting services and requires a 50% reduction in annual equity incentives through 2028.
🚩 Red Flags
- Significant dilution potential: Achieving the $50 hurdle represents a ~$675 million increase in market capitalization, implying heavy future share issuance if targets are met.
- Aggressive performance hurdles: The highest target ($50) requires 93% appreciation from current levels.
📋 Key Facts
- The Compensation Committee approved performance-based RSUs with three specific stock price hurdles: $30.00 (16% appreciation), $40.00 (54% appreciation), and $50.00 (93% appreciation).
- Hurdles are measured against a 20-day VWAP of $25.93 established between Aug 16, 2024, and Sept 13, 2024.
- CEO Ted A. Fernandez was granted 786,885 RSUs (fair value: $20,144,256).
- COO David N. Dungan was granted 413,115 RSUs (fair value: $10,575,744).
- CFO Robert A. Ramirez was granted 72,000 RSUs (fair value: $1,843,200).
- To fund these awards, annual equity incentive opportunities for named executives and up to 10 other employees will be reduced by 50% from 2025 through 2028.
- The strategy focuses on pivoting capabilities toward generative AI via the 'AI XPLR' platform.
The Hackett Group, Inc. filed an 8-K to announce its consolidated financial results for the second fiscal quarter ended June 28, 2024.
📋 Key Facts
- Report date: August 6, 2024
- Reporting period: Second fiscal quarter ended June 28, 2024
- The filing is a standard announcement of quarterly earnings results via press release (Exhibit 99.1).
The Hackett Group, Inc. reported its consolidated financial results for the first fiscal quarter ended March 29, 2024, and announced the outcomes of its 2024 Annual Meeting of Shareholders held on May 2, 2024.
📋 Key Facts
- Q1 fiscal year 2024 ended on March 29, 2024.
- Shareholders elected Maria A. Bofill and David N. Dungan to the Board of Directors through the 2027 Annual Meeting.
- Shareholders approved an amendment to the 1998 Stock Option and Incentive Plan to increase the sublimit for restricted stock/RSUs by 1,200,000 shares.
- Shareholders ratified the appointment of RSM US LLP as independent auditor for fiscal year ending December 27, 2024.
The Hackett Group, Inc. issued a press release announcing its consolidated financial results for the fourth fiscal quarter and full fiscal year ended December 29, 2023.
📋 Key Facts
- Report date: February 20, 2024
- Reporting period: Fourth fiscal quarter and fiscal year ended December 29, 2023
- The filing is an announcement of earnings results under Item 2.02