COVID Stimulus Watch Individual Entry

Note: this award was refunded

Individual Award Data

Recipient Company:  Ruth's Chris Steak House
Parent Company:  Ruth's Hospitality Group
Award Date:  Apr 7, 2020
Award Type:  loan
Loan or Loan Guarantee Amount:  $20,000,000
Awarding Agency:  Small Business Administration
Program Name:  Paycheck Protection Program
Award Details: 

Ruth's Hospitality received $20 million in loans from the SBA with an interest rate of 1 percent. The company later announced it was returning the loan: https://www.sec.gov/ix?doc=/Archives/edgar/data/1324272/0001564590200182...

Notes: 

The CEO pay figure used in the ratio was adjusted to reflect an equity award vesting over a multi-year period.


Parent Company Data

Ownership Structure:  publicly traded (ticker symbol RUTH)
Headquartered in:  Florida
Parent Sector:  restaurants and foodservice
Parent Industry:  restaurants
Employees (prior to pandemic):  5,740

Parent Accountability Issues Since 2010

Ratio of CEO Pay to that of Median Worker:  85 to 1
CEO Compensation:  $2,833,228