UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): ~~March~~May 105, 2017

IGNITE RESTAURANT GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-35549

94-3421359

(State or other jurisdiction of

Company or organization)

(Commission File Number)

(I.R.S. Employer

Identification No.)


10555 Richmond Avenue, Houston, Texas	77042
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (713) 366-7500

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~Item~~Indicate ~~3.01~~by ~~Notice~~check ofmark ~~Delisting~~whether orthe ~~Failure~~registrant tois ~~Satisfy~~an aemerging ~~Continued~~growth ~~Listing~~company as defined in Rule 405 of the Securities Act of 1933 or ~~Standard;~~Rule ~~Transfer~~12b-2 of ~~Listing~~the Securities Exchange Act of 1934.

OnEmerging ~~March~~growth ~~10,~~company 2017, Ignite Restaurant Group, Inc. (the “Company”) received a notice (the “Notice”) from the Office of General Counsel of the Nasdaq Stock Market (“Nasdaq”) indicating that the Nasdaq Hearings Panel (the “Panel”) has determined that the Company’s securities would be delisted from The Nasdaq Global Select Market. Accordingly, trading of the Company’s common stock was suspended at the opening of business on March 14, 2017, and a Form 25-Notification of Delisting will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on Nasdaq.☒

~~The~~If ~~Notice~~an ~~indicated~~emerging ~~that~~growth ~~the Panel’s determination was based on concerns about the Company’s ability to sustain compliance with all requirements for continued listing on The Nasdaq Stock Market. Specifically~~company, onindicate ~~July~~by ~~28,~~check ~~2016,~~mark ~~Nasdaq~~if ~~Listing Qualifications Staff (~~the ~~“Staff”)~~registrant ~~notified~~has ~~the~~elected ~~Company~~not ~~that~~to ituse ~~was no longer in compliance with Nasdaq Marketplace Rule 5450(b)(3)(C) since~~ the ~~market~~extended ~~value~~transition ofperiod ~~its publicly held shares closed below the required minimum of $15,000,000~~ for ~~the~~complying ~~previous 30 consecutive business days. In accordance~~ with ~~Nasdaq~~any ~~Marketplace~~new ~~Rule 5810(c)(3)(D), Staff granted the Company a 180-day period,~~ or ~~until~~revised ~~January~~financial ~~24,~~accounting ~~2017,~~standards toprovided ~~regain~~pursuant ~~compliance. The Company was unable~~ to ~~regain~~Section ~~compliance with Rule 5450~~13(ba)~~(2)(C)~~ byof ~~January 24, 2017. Accordingly, on January 25, 2017,~~ the ~~Company~~Exchange received a letter from Staff notifying it that the Company’s common stock would be delisted from The Nasdaq Global Select Market on February 3, 2017 unless the Company timely requested a hearing before the PanelAct. The Company appealed the Staff’s determination by requesting a hearing before the Panel to seek continued listing. On March 10, 2017, the Panel determined that the Company’s shares would be delisted from The Nasdaq Stock Market effective at the open of business on March 14, 2017.☒

~~The~~Item ~~Company’s~~5.02. ~~common~~Departure ~~stock~~of ~~will~~Directors beor ~~eligible~~Certain toOfficers; ~~trade~~Election inof ~~the~~Directors; ~~over-the-counter~~Appointment ~~(“OTC”)~~of ~~market.~~Certain Officers; Compensatory Arrangements of Certain Officers

~~SIGNATURE~~On May 5, 2017, Ignite Restaurant Group, Inc. (the “Company”) announced that its Board of Directors has elected Debra Eybers to serve as the Company’s Chief Operating Officer, a position she had previously held on an interim basis. Since 2009, Ms. Eybers, age 63, has served as a consultant for a number of restaurant companies including Ruth’s Hospitality Group, Inc. and The Palm Restaurant. Ms. Eybers served as the President of House of Blues from 2008-2009 and as President of Cheeseburger in Paradise from 2000-2006. Ms. Eybers holds a B.A. in English Education and Sociology from Old Dominion University.

In connection with her election as Chief Operating Officer, Ms. Eybers and the Company entered into an offer letter on May 5, 2017, setting forth the material terms of her employment with the Company. Pursuant to the ~~requirements~~terms of the ~~Securities~~letter, ~~Exchange~~Ms. ~~Act~~Eybers will receive an annual base salary of ~~1934~~$300,000, and will have a target bonus of 50% of her base salary. In accordance with the ~~Registrant~~terms ~~has~~of ~~duly~~the ~~caused~~offer ~~this~~letter, ~~report~~Ms. toEybers will also be ~~signed~~entitled onto ~~its~~receive ~~behalf~~severance in an amount equal to her then current base salary for a period of 12 months following her termination if she is terminated by the ~~undersigned~~Company ~~hereunto~~without ~~duly authorized~~cause.

	IGNITE RESTAURANT GROUP, INC.
Date: March 13, 2017	By:	/s/ Brad A. Leist
		Brad A. Leist
		Senior Vice President and Chief Financial Officer

The foregoing description of the offer letter is only a summary and is qualified in its entirety by reference to the actual offer letter, which will be attached as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 3, 2017.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: May 5, 2017


IGNITE RESTAURANT GROUP, INC.

By:		/s/ Brad A. Leist
		Brad A. Leist
		Senior Vice President, Chief Financial Officer and Chief Administrative Officer

Filing Compare · Ignite Restaurant Group, Inc.