<SEC-DOCUMENT>0001214659-25-006258.txt : 20250423
<SEC-HEADER>0001214659-25-006258.hdr.sgml : 20250423
<ACCEPTANCE-DATETIME>20250423125908
ACCESSION NUMBER:		0001214659-25-006258
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250423
DATE AS OF CHANGE:		20250423
EFFECTIVENESS DATE:		20250423

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BJs RESTAURANTS INC
		CENTRAL INDEX KEY:			0001013488
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				330485615
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0103

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21423
		FILM NUMBER:		25860464

	BUSINESS ADDRESS:	
		STREET 1:		7755 CENTER AVENUE
		STREET 2:		SUITE 300
		CITY:			HUNTINGTON BEACH
		STATE:			CA
		ZIP:			92647
		BUSINESS PHONE:		(714) 500-2440

	MAIL ADDRESS:	
		STREET 1:		7755 CENTER AVENUE
		STREET 2:		SUITE 300
		CITY:			HUNTINGTON BEACH
		STATE:			CA
		ZIP:			92647

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHICAGO PIZZA & BREWERY INC
		DATE OF NAME CHANGE:	19960614

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACCOUNTABILITY BOARD, INC.
		CENTRAL INDEX KEY:			0001947330
		ORGANIZATION NAME:           	
		EIN:				883831974
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		401 EDGEWATER PLACE
		STREET 2:		SUITE 600
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
		BUSINESS PHONE:		240-620-4432

	MAIL ADDRESS:	
		STREET 1:		401 EDGEWATER PLACE
		STREET 2:		SUITE 600
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">United States
Securities and Exchange Commission<BR>
Washington, DC 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Notice
of Exempt Solicitation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Name of Registrant:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="text-transform: uppercase">BJ&rsquo;S RESTAURANTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0 0pt 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Name of persons relying on exemption:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="text-transform: uppercase">THE ACCOUNTABILITY
BOARD, INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Addresses of persons relying on exemption:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">401 Edgewater Pl #600, Wakefield, MA 01880</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>Written materials:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The attached written materials are submitted pursuant to
a voluntary application of Rule 14a-6(g)(1) promulgated under the Securities Exchange Act of 1934. Submission is not required of this
filer under the terms of the Rule but is made in the interest of public disclosure and consideration of these important issues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="accountabilityboard_logo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 23, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear fellow shareholders,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board&rsquo;s statement opposing our proposal regarding food waste
(Proposal 4 in its proxy statement) focuses on the company&rsquo;s efforts to reduce food waste. However, while we certainly acknowledge
those efforts, our proposal seeks a vital accountability component for such efforts in the form of food waste <I><U>measurements</U></I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In fact, the company&rsquo;s lengthy opposition statement should cause
shareholders even more concern, since, in our view, the more BJ&rsquo;s invests in initiatives to reduce food waste, the more shareholders
deserve to be able to measure the efficacy of that work. Yet none of the fifteen bullet pointed actions the company claims to be taking
to reduce food waste is a commitment to disclose measurements of its food waste. And without that, it&rsquo;s simply not possible for
shareholders to sufficiently understand the company&rsquo;s return on its investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>And indeed, reducing food waste is an investment that can yield
significant returns.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a recent National Restaurant Association article stated, &ldquo;Many
operators are tracking food waste as a waste prevention method, but there&rsquo;s an opportunity to positively impact the bottom line
too.&rdquo; It continues: &ldquo;<FONT STYLE="color: #111418; background-color: white">With food costs representing 28% to 35% of sales
in restaurants, preventing pre-consumer food waste boosts profitability. For every dollar invested in food-waste reduction, restaurants
could realize a</FONT><FONT STYLE="background-color: white">pproximately $8 in cost </FONT>savings.&rdquo; (See <FONT STYLE="background-color: white"><U>bit.ly/NRA-FoodWasteArticle.)</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #163785">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #111418; background-color: white">A highly illuminating
report was recently published by</FONT> the organization Champions 12.3. Named after U.N. Sustainable Development Goal number 12.3 (to
halve food waste globally by 2030), the organization&rsquo;s leadership includes the CEOs of major food companies (e.g. Nestle, Kellanova,
and Tesco), the Chief Economist for the United Nations Food &amp; Agriculture Organization, the CEO of Rabobank, and many others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Available at <U>bit.ly/FoodWasteBusinessCase,</U> <I>The Business Case
for Reducing Food Loss </I>points out that throughout the food service industry, there&rsquo;s a proven ROI in food waste reduction&mdash;and
it&rsquo;s quite high. Specifically, the report&rsquo;s comprehensive, multi-sector survey found substantial financial benefits from food
waste reduction efforts:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in"><I>We analyzed nearly 1,200 business sites across 17 countries
and more than 700 companies, representing a range of sectors including food manufacturing, food retail (e.g., grocery stores), hospitality
(e.g., hotels, leisure), and food service (e.g., canteens, restaurants)&hellip;[and] found that 99 percent of the sites earned a positive
return on investment. The median benefit-cost ratio&mdash;where half of the sites achieved a higher ratio while half achieved a lower
ratio&mdash;was 14:1. In other words, half of the business sites earned greater than a 14-fold financial return on investment. Thus, for
every $1 (or other relevant currency) invested in food loss and waste reduction, the median company site realized a $14 return. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">That report further concluded that &ldquo;[c]ompany sites with the
highest returns tended to be restaurants.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In fact, Champions 12.3 also published an entire report just covering
the business case for reducing food waste at <I><U>restaurants.</U></I> (See <U>bit.ly/RestaurantFoodWasteReport</U>.) That report&rsquo;s
key findings included that within the first year of implementing a food waste reduction program, 76% of restaurant sites had recouped
their investment and within two years, 89% had.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Further, the very first of that report&rsquo;s recommended &ldquo;key
strategies for achieving food waste reduction&rdquo; was to <I><U>measure</U></I> the amount of food waste being generated. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The old adage that &ldquo;what gets measured gets managed&rdquo; holds
true for food waste.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As the Champions 12.3 &ldquo;Business Case&rdquo; report says, &ldquo;Quantifying
food loss and waste&hellip;can help decision-makers better understand how much, where, and why food is being lost or wasted,&rdquo; thereby
providing &ldquo;an evidence-based foundation for developing and prioritizing food loss and waste reduction strategies.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">And it points out: &ldquo;Measurement does not need to be a complex
and resource-intensive exercise. Quantification and periodic monitoring can be integrated with other resource monitoring programs that
governments and companies have in place. And as the financial benefit-cost ratio analyses above indicate, measurement can have a large
positive payback.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Similarly, the U.S. Environmental Protection Agency (EPA) advises companies
to, &ldquo;Learn about what flows through your [operations] by measuring the amount, type, and reason for the generation of wasted food,&rdquo;
adding that &ldquo;knowing how much and why wasted food is generated will help to create effective wasted food prevention strategies.&rdquo;
The agency says this &ldquo;will also help to identify wasted food that is avoided and money saved&rdquo; and even offers &ldquo;a variety
of free EPA tools available to conduct a waste audit.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Yet, BJ&rsquo;s doesn&rsquo;t disclose how much food waste it generates.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In a logic-defying assertion, the Board opens its statement opposing
a proposal asking it to disclose food waste measurements by declaring that &ldquo;BJ&rsquo;s Remains Committed to Food Waste Measurement.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While it claims that the company <I><U>estimates</U></I> food waste
accounting for 1.74% of its food costs, it offers no explanation as to how it arrived at that approximated figure. Further, that figure
includes non-food waste (e.g. shrinkage that occurs during cooking), which is plainly not the same as disclosing&mdash;as other companies
do&mdash;the actual quantity of food waste generated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On such a highly consequential and financially material matter, and
one the company is clearly investing significant resources to address, shareholders deserve clear data quantifying the efficacy of the
company&rsquo;s work.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BJ&rsquo;s also discloses no measurable reduction goals. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For all the food waste reduction <I><U>efforts</U></I> the company
describes in its opposition statement, what&rsquo;s missing are any kind of measurable <I><U>goals</U></I> whatsoever. Taking steps like
this (i.e., without measurable targets to work toward) is like building a house without blueprints. Indeed, the more a company works to
reduce food waste, the more it makes sense to adopt measurable targets, so that the company can ensure it&rsquo;s working toward a tangible,
quantifiable goal rather than the blind objective of trying to just generally reduce food waste.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The opposition statement asserts, however, the company&rsquo;s belief
that the best way to achieve its goals &ldquo;is through a strategic, targeted approach rather than <I><U>imposed time-bound goals</U></I>
that may not align with operational realities or long-term effectiveness.&rdquo; [Emphasis added.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First, it&rsquo;s ironic to describe an approach that lacks measurable
targets as being &ldquo;targeted.&rdquo; Secondly, the statement is misleading, as our proposal does not seek to prescribe any specific
goals or targets (let alone ones that are misaligned with operational realities). Rather, the proposal clearly leaves discretion in that
regard to the Board and management. Contrary to the company&rsquo;s portrayal of an exacting directive, the proposal merely seeks to add
a policy of accountability&mdash;through measurement and company-established reduction targets&mdash;by which shareholders (and the Board)
can assess the effectiveness of what it readily acknowledges is an initiative of substantial materiality and impact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;Targets set ambition, and ambition motivates action,&rdquo;
says the Champions 12.3 &ldquo;Business Case&rdquo; report. &ldquo;To create the needed focus, therefore&hellip;companies should adopt
explicit food loss and waste reduction targets.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We agree. And indeed, many companies are setting measurable food waste
targets. As our proposal highlights, for example, Starbucks and Yum! Brands both have measurable goals to reduce their food waste 50%
by 2030.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121"><B>In conclusion, the advantages of supporting the
proposal are clear.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121">Our proposal asks only for basic transparency on how
much food waste BJ&rsquo;s is generating, and the accountability and efficiency that comes from measurable targets for reducing it. The
company&rsquo;s opposition statement instead focuses squarely on all the various ways the company says it is working to reduce food waste&mdash;initiatives
that, in our view, make our request to disclose food waste measurements and targets all the more critical. Thank you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We&rsquo;re not asking for and can&rsquo;t accept your proxy. Please
vote &ldquo;FOR&rdquo; Proposal 4.&nbsp;</B></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
