Steven L. Brake - Mar 8, 2022 Form 4 Insider Report for Del Taco Restaurants, Inc. (TACO)

Role: EVP & Chief Financial Officer
Signature: Rebecca H. Yang, Attorney-in-Fact
Stock symbol: TACO
Transactions as of: Mar 8, 2022
Transactions value $: -$5,013,858
Form type: 4
Date filed: 3/10/2022, 08:46 PM
Previous filing: Jul 2, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TACO	COMMON STOCK	Disposed to Issuer	-$3.82M	-306K	-100%	$12.51	0	Mar 8, 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TACO	Stock Option (right to buy)	Disposed to Issuer	-$232K	-18.6K	-100%	$12.51	Mar 8, 2022	COMMON STOCK	18.6K	$5.93	Direct	F1
transaction	TACO	Stock Option (right to buy)	Disposed to Issuer	-$813K	-65K	-100%	$12.51	Mar 8, 2022	COMMON STOCK	65K	$9.89	Direct	F1
transaction	TACO	Performance-Based Restricted Stock Units	Disposed to Issuer	-$144K	-11.5K	-100%	$12.51	Mar 8, 2022	COMMON STOCK	11.5K	$0.00	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Steven L. Brake is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Disposed of as a result of the merger pursuant to the previously announced Agreement and Plan of Merger, dated December 5, 2021, between the issuer and Jack in the Box Inc. (the "Merger Agreement"). Pursuant to the Merger Agreement, each restricted stock award (other than certain non-accelerating restricted stock awards granted to the issuer's executive officers) will vest and be converted into the right to receive cash of $12.51 per share, each unexercised option will vest and be converted into the right to receive cash in an amount equal to the excess of $12.51 over the exercise price of such option, and each performance-based restricted stock unit will vest and be converted into the right to receive cash of $12.51 per share.

Content

Disposed of as a result of the merger pursuant to the previously announced Agreement and Plan of Merger, dated December 5, 2021, between the issuer and Jack in the Box Inc. (the "Merger Agreement"). Pursuant to the Merger Agreement, each restricted stock award (other than certain non-accelerating restricted stock awards granted to the issuer's executive officers) will vest and be converted into the right to receive cash of $12.51 per share, each unexercised option will vest and be converted into the right to receive cash in an amount equal to the excess of $12.51 over the exercise price of such option, and each performance-based restricted stock unit will vest and be converted into the right to receive cash of $12.51 per share.