Good Times Restaurants (GTIM) Announces $5M Share Buyback

Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that it will commence a share repurchase program beginning February 7, 2022. Repurchases of up to an aggregate of $5,000,000 of the Company’s common stock have been authorized by the Company’s Board of Directors. The authorization to repurchase will continue until the maximum value of shares is purchased or the Company terminates the program. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. The Company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

“This announcement demonstrates our confidence in both of our brands and the growth opportunities we see over the long term,” said Ryan Zink, Chief Executive Officer. “This share repurchase program will return capital to shareholders while providing a secondary use for cash generated by the business while we continue to reinvest in both existing restaurants at both brands and execute a disciplined growth program for Bad Daddy’s.”

The repurchase program does not obligate the Company to acquire any particular amount of common shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.

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