Michaela M. Ware, Chief Financial Officer of Brinker International (EAT 1.45%), executed an open-market sale of 5,000 directly-held shares at a weighted average price of $162.40 per share on Feb. 5, 2026, according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 5,000 |
| Transaction value | ~$812,000.0 |
| Post-transaction shares (direct) | 19,923 |
| Post-transaction shares (indirect) | 3,259 |
| Post-transaction value (direct ownership) | ~$3.2 million |
Transaction value based on SEC Form 4 weighted average purchase price ($162.40); post-transaction value based on Feb. 5, 2026 market close ($160.64).
Key questions
- How significant was this sale relative to Ms. Ware's historical trading activity?
This 5,000-share sale is comparable to Ms. Ware's historical median for open-market sales (5,356 shares in the recent period), suggesting the transaction is consistent with her established disposition pattern. - What impact does this trade have on Ms. Ware's ownership position?
The transaction reduced Ms. Ware's direct holdings by 17.74%, leaving her with 19,923 directly held shares and maintaining 3,259 shares indirectly through her 401(k) plan. - Was there any indirect or derivative involvement in this transaction?
No; the trade was executed solely from direct holdings, with no indirect transfers or stock option exercises reported in this filing. - How does the sale align with available share capacity?
Ms. Ware's direct holdings have declined substantially over the past year, which explains the smaller absolute trade size as a function of remaining share capacity rather than a shift in disposition strategy.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close Feb. 5, 2026) | $160.64 |
| Revenue (TTM) | $5.7 billion |
| Net income (TTM) | $454.1 million |
| 1-year price change | 0.63% |
* 1-year price change calculated using Feb. 5, 2026 as the reference date.
Company snapshot
- Brinker International operates and franchises casual dining restaurants, primarily under the Chili's Grill & Bar and Maggiano's Little Italy brands, generating revenue through food and beverage sales.
- Its business model centers on direct restaurant operations and franchising, with income streams from company-owned outlets and franchise fees.
- The company serves a broad consumer base seeking casual dining experiences in the United States and select international markets.
Brinker International is a leading operator in the casual dining segment, with a substantial presence through its Chili's and Maggiano's restaurant brands. The company leverages a dual approach of company-owned and franchised locations to maximize market reach and operational flexibility. Scale, brand recognition, and a diversified revenue model support its competitive positioning in the restaurant industry.
What this transaction means for investors
Brinker International CFO Michaela Ware’s sale of 5,000 shares in company stock is not a red flag. She still has nearly 20,000 directly-held shares, suggesting she is not in a rush to sell her stock.
Ms. Ware’s transaction comes at a time when Brinker International shares are surging. The stock rose after the company reported strong results for its fiscal second quarter ended Dec. 24.
Fiscal Q2 sales totaled $1.5 billion, up from the previous year’s $1.4 billion. Its Chili's restaurants enjoyed 19 consecutive quarters of same-store sales growth as it notched a 9% increase in Q2.
As a result of the strong performance, Brinker International raised its fiscal 2026 full-year guidance to a range between $5.76 billion and $5.83 billion compared to the previous forecast of between $5.6 billion and $5.7 billion in sales.
This has led to Brinker International stock approaching its 52-week high of $187.12 reached last July. With the rising share price, it’s understandable why Ms. Ware would want to sell, and for shareholders, it’s a good time to sell as well.
That said, the company’s price-to-earnings ratio of 17 is lower than it was a year ago, suggesting it’s not a bad time to consider buying Brinker stock either.
