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Get me rewrite…

chilis.jpegHere at footnoted, we’re still playing catch-up with Friday’s filings and this proxy filed by Brinker International (EAT) late Friday was interesting for its minimalistic approach. One would think that a company whose restaurant menus include such fluffy language as "buttery toasted tortillas" wouldn’t skimp when it came time to describing why CEO Douglas Brooks received a $1.35 million bonus (substantially above the zero received in 2005) when the stock was down for the fiscal year. Indeed, all five of the top executives received generous bonuses last year, despite the decline in stock. There were also hefty helpings of restricted stock: $2.3 million for Chili’s EVP Todd Diener and $3.2 million for CFO Charles Sonsteby.

In the proxy, Brinker’s compensation committee explains the bonus for Brooks this way: For fiscal 2006, Mr. Brooks received an incentive award of $1,350,000 pursuant to the company’s profit sharing plan

Not exactly a lot of information, huh? Maybe they need to get their menu writers to take a whack at the proxy.