DEF 14A of Lucky Strike Entertainment Corp, Oct 24, 2025

DEF 14A of Lucky Strike Entertainment Corp

Filed Oct 24, 2025 · FY20250001104659-25-102144

Open on EDGAR

  1. Directors

    Directors The following table sets forth information with respect to our director nominees, assuming they are reelected at the Annual Meeting:

  2. Director Nominees for Election at the Annual Meeting

    Director Nominees for Election at the Annual Meeting

  3. Director Nominees for Election at the Annual Meeting

    | Name | Age | Director Since | Independent | Board Committee(s) | | Thomas F. Shannon* | 60 | 2021 | N | | | Michael J. Angelakis | 61 | 2021 | Y | Nominating and Corporate Governance Committee+ | | Robert J. Bass | 76 | 2021 | Y | Audit Committee,+ Nominating and Corporate Governance Committee | | Richard Born | 68 | 2025 | Y | Nominating and Corporate Governance Committee | | Jason Harinstein | 50 | 2025 | Y | Audit Committee, Compensation Committee | | Sandeep Mathrani | 63 | 2021 | Y | Audit Committee, Compensation Committee | | Alberto Perlman | 49 | 2022 | Y | Audit Committee, Compensation Committee | | Rachael A. Wagner | 43 | 2021 | Y | Compensation Committee | | John A. Young** | 60 | 2021 | Y | Nominating and Corporate Governance Committee, Compensation Committee+ |

  4. Director Nominees for Election at the Annual Meeting

    * Chairman of the Board ** Lead Director + Committee Chair

  5. Board Nominees

    Board Nominees Thomas F. Shannon is the founder, Chairman, Chief Executive Officer and a director of Lucky Strike Entertainment. Mr. Shannon became a director of Lucky Strike Entertainment upon consummation of the business combination (the “Business Combination”) contemplated by the Business Combination Agreement, dated as of July 1, 2021, as amended on November 1, 2021 (the “Business Combination Agreement”), by and among Isos Acquisition Corporation (“Isos”) and Bowlero Corp. (“Old Bowlero”). Mr. Shannon founded Old Bowlero with the acquisition of Bowlmor Lanes in 1997 and has grown the company into the world’s largest operator of bowling entertainment centers. Mr. Shannon holds a Master in Business Administration from the Darden School at the University of Virginia and is a graduate of the American University. Mr. Shannon is a valuable member of the Board because of his in-depth knowledge of Lucky Strike Entertainment’s business resulting from his years of service with the Company and his leadership experience as Lucky Strike Entertainment’s Founder, Chairman and Chief Executive Officer. Michael J. Angelakis had been a director of Old Bowlero since 2017 and became a director of Lucky Strike Entertainment upon consummation of the Business Combination. He is the Chairman and Chief Executive Officer of Atairos. He also serves as a Senior Advisor to the Executive Management Committee of Comcast Corporation. Prior to founding Atairos, he served as Comcast’s Vice Chairman and Chief Financial Officer. In those roles, Michael was responsible for many strategic, financial, administrative, and other areas within Comcast. During his tenure at Comcast, Michael was recognized by Institutional Investor magazine as one of “America’s Best Chief Financial Officers” six out of eight years. Prior to joining Comcast, Michael served as a Managing Director and a member of the Management and Investment Committees of Providence Equity Partners, one of the leading private equity firms investing in technology, media, and communications companies around the world. Before joining Providence, Michael was Chief Executive Officer of State Cable TV Corporation and Aurora Telecommunications. He also served as Vice President at Manufacturers Hanover Trust Company in New York, where he oversaw one of the bank’s media and communications portfolios. Additionally, Michael spent several years in London developing Manufacturers Hanover’s acquisition finance and merchant banking activities throughout Western Europe. He is a member of the board of directors of the following public companies: Exxon Mobil Corporation (NYSE: XOM), TriNet Group (NYSE: TNET) and American Express Company (NYSE: AXP), as well as the following private companies: Arcis Golf and The Orogen Group, and V Sports. Previously, Michael was the Chairman of the Board for the Federal Reserve Bank of Philadelphia, a member of the board of directors of Clarivate PLC, Duke Energy, Groupon Corporation (NASDAQ: GRPN), Hewlett Packard Enterprises (NYSE: HPE), and a trustee of Babson College. Michael is a graduate of the Owner/President Management Program at the Harvard Business School and of Babson College. Mr. Angelakis is a valuable member of the Board because of his extensive financial expertise and his years of experience on the boards of directors of other public companies. Robert J. Bass became a director of Lucky Strike Entertainment upon the consummation of the Business Combination. Mr. Bass served as a vice chairman of Deloitte & Touche LLP from 2006 through June 2012, and was a partner at Deloitte from 1982 through June 2012, where he specialized in e-commerce, mergers and acquisitions, SEC filings, and related issues. At Deloitte, Mr. Bass was responsible for all services provided to Forstmann Little and its portfolio companies and was the advisory partner for Blackstone, DIRECTV, 24 Hour Fitness, McKesson, IMG, and CSC. In addition, he has been an advisory partner for RR Donnelley, Automatic Data Processing, Community Health Systems and Avis Budget. Mr. Bass serves on the board of directors of Groupon (NASDAQ: GRPN) and is both a member of the compensation committee and chairman of the audit committee. He serves as a member of the board of directors of Apex Tool Group, LLC, including as chairman of the audit committee. Mr. Bass also serves on the board of trustees of Blackstone Secured Lending Fund (NYSE: BXSL) and is chairman of the audit committee and a member of the nominating/governance committee and the compensation committee. He serves on the board of trustees of Blackstone Private Credit Fund and is chairman of the audit committee and a member of the nominating/governance committee and the compensation committee. Previously, Mr. Bass served on the board of directors and as chairman of the audit committee and as a member of the nominating/governance committee of Redfin Corporation (NASDAQ: RDFN) from October 2016 to July 2025. He also served on the board of directors of Sims Metal Management (ASX: SGM.AX) from September 2013 to December 2018 and was a member of the risk and audit committee from September 2013, including serving as chairman of the risk and audit committee from November 2014. Mr. Bass also served on the board of directors and as chairman of the audit committee of New Page Corporation from January 2013 (emergence from chapter XI) to January 2015 (sale of the company). Mr. Bass is a certified public accountant licensed in New York and Connecticut. He is a member of the American Institute of Certified Public Accountants and the Connecticut State Society of Certified Public Accountants. Mr. Bass holds a Master in Business Administration from the Columbia University Graduate School of Business and a Bachelor of Business Administration Degree from Emory University. Mr. Bass is a valuable member of the Board because of his experience and knowledge of public company financial reporting and accounting. His experience at the highest levels of a Big Four accounting firm is an invaluable resource to the Board in its oversight of the Company’s financial statements and SEC filings. Richard Born became a director of Lucky Strike Entertainment in June 2025. Mr. Born, a pioneering force in hospitality-focused real estate, has worked in real estate development and management for over 35 years, with a focus on the hospitality industry and is a co-founder of BD Hotels. He holds indirect interests in approximately 25 hotels and approximately 20 other real estate properties and is directly involved in the management and operation of more than half of these assets. Mr. Born’s projects include iconic properties such as the Hotel Chelsea, the Bowery Hotel, the Mercer, and the Ludlow, which have redefined the guest experience and helped shape the hospitality scene in New York as well as other major markets. Mr. Born is a graduate of the New York University School of Medicine, after which he completed three years of surgical residency. Jason Harinstein became a director of Lucky Strike Entertainment in June 2025. Mr. Harinstein brings over two decades of executive leadership from some of the industry’s most innovative and data-driven companies. Mr. Harinstein served as the Chief Financial Officer of Collectors Holdings Inc. from December 2021 through October 2025. Prior to that role, Mr. Harinstein served as the Chief Financial Officer of Flatiron Health, Inc. from April 2017 through December 2021 and has also held corporate and business development leadership positions at Groupon and Google. Mr. Harinstein is also a member of the board of directors of Groupon, Funko, and Collectors Holdings Inc. Mr. Harinstein is a graduate of the University of Chicago Booth School of Business.

  6. Board Nominees

    Sandeep Mathrani became a director of Lucky Strike Entertainment upon consummation of the Business Combination. Mr. Mathrani currently serves as Managing Director of Sycamore Partners, a private equity firm specializing in consumer, distribution, and retail-related investments. Mr. Mathrani served as the chief executive officer of WeWork (NYSE: WEWK) and a member of its board of directors from February 2020 to May 2023. Prior to WeWork, he served as CEO of Brookfield Properties Retail Group and as Vice Chairman, Brookfield Properties from August 2018 to February 2020. Prior to that, he served as CEO of GGP Inc. for eight years, during which time he oversaw the company’s strategic rebranding in 2017 to a retail real estate company, as well as the successful $9.25 billion acquisition of GGP by Brookfield Property Partners in 2018. Before joining GGP in 2010, Mr. Mathrani was President of Retail for Vornado Realty Trust, where he oversaw the firm’s U.S. retail real estate division. Before that, he spent nearly a decade as Executive Vice President at Forest City Ratner. Mr. Mathrani currently serves as a member of the board of directors of Dick’s Sporting Goods (NYSE: DKS), Tanger Factory Outlet Center, Inc. (NYSE: SKT) and Mindspace REIT. Mr. Mathrani served on the executive board and the board of trustees for the International Council of Shopping Centers, the executive board and 2019 chair of the National Association of Real Estate Investment Trusts, as well as on the board of directors for Host Hotels & Resorts, Inc. (Nasdaq: HST). He holds a Master of Engineering, Master of Management Science and Bachelor of Engineering from Stevens Institute of Technology. Mr. Mathrani is a valuable member of the Board because of his significant experience as a real estate industry veteran and his valuable corporate governance, management, operational and strategic expertise. Alberto Perlman became a director of Lucky Strike Entertainment in December 2022. Mr. Perlman currently serves as the chief executive officer and co-founder of Zumba Fitness, LLC, the largest branded fitness program in the world. At Zumba, Mr. Perlman oversees marketing, product development, business development, and innovation, and negotiates strategic partnerships with fitness clubs and organizations around the world. Since its inception in 2001, the Zumba® program has grown from a single class taught in a Miami gym into a global movement and expansive lifestyle brand. Zumba now reaches 15 million weekly participants in 200,000 locations in 186 countries. Prior to founding Zumba, Mr. Perlman was founder and CEO of internet- incubator Spydre Labs and worked as a consultant for the Mitchell Madison Group. Mr. Perlman earned his bachelor’s degree in business from Babson College. Mr. Perlman is a valuable addition to the Board due to his experience and perspective in marketing, business development, collaborations, public relations, and social media. Rachael A. Wagner had been a director of Old Bowlero since 2017 and became a director of Lucky Strike Entertainment upon consummation of the Business Combination. She is a Partner at Atairos, where she leads investments in the leisure, entertainment, and digital media industries. Ms. Wagner joined Atairos from Lindsay Goldberg, where she participated in all major investment functions, including origination, transaction execution, and portfolio company development. Ms. Wagner was a Managing Director at Lindsay Goldberg and served as a Director on several portfolio company boards across a wide range of industries, including food & beverage manufacturing, specialty distribution, government services, and downstream energy. Prior to joining Lindsay Goldberg, Ms. Wagner worked at Lion Capital and in the Private Equity group at Blackstone. She previously served as a member of the board of directors of Oxford University’s Saïd Business School and as a member of the Council on Foreign Relations. Ms. Wagner is a member of the board of directors of Arcis Golf, Wilson College and LifeLabs Learning, a workplace training and consulting company. She received her Master of Business Administration degree and an MSc in Comparative Social Policy from Oxford University, where she was a Rhodes Scholar, and her Bachelor’s degree from Harvard University. Ms. Wagner is a valuable member of the Board because of her management and professional experience. John A. Young had been a director of Old Bowlero and its predecessor entities since 2013 and became a director of Lucky Strike Entertainment upon consummation of the Business Combination. He is the retired President, CEO and Director of Colfax Corporation (NYSE:CFX). He was one of the co-founders of Colfax and served as its Chief Financial Officer from 1995 to 2000 and Chief Executive Officer from 2000 until 2010. After leaving Colfax, he served as a Senior Advisor to Oaktree Capital Management from 2011 until 2016 and has been a director of multiple privately owned businesses in the industrial, recreational products and healthcare industries. Prior to employment with Colfax, Mr. Young was Director of Corporate Development at AMF Industries and was an M&A Associate at Chase Manhattan Bank. Mr. Young is a graduate of the University of Virginia with a Master in Business Administration from the Darden School of Business, where he was a Shermet Scholar, and a Bachelor of Science Degree in Finance from the McIntire School. Mr. Young is a valuable member of the Board because of his years of management experience and expertise.

  7. Compensation Consultants

    Compensation Consultants Our compensation committee is authorized to engage a compensation consultant to assist the compensation committee in its responsibilities. During fiscal 2025, the compensation committee engaged Mercer as its compensation consultant to provide ongoing advisory services to the compensation committee, which include review of the executive compensation of our officers and outside directors, development of market-based incentive guidelines, compensation decision support, and other services as may be directed by the compensation committee. The compensation consultants from Mercer have no other direct or indirect business relationships with us. The compensation committee has assessed the independence of Mercer and has concluded that its engagement of Mercer does not raise any conflict of interest with the Company or any of its directors or executive officers.

  8. Employment Agreements

    Employment Agreements

  9. Employment Agreement with Mr. Shannon

    Employment Agreement with Mr. Shannon Effective as of the closing of the Business Combination, the Company entered into an employment agreement with Mr. Shannon, as Chief Executive Officer. The agreement superseded Mr. Shannon’s prior employment agreement with Old Bowlero. Under the terms of the employment agreement, Mr. Shannon serves as a member of our Board and its Chairman. The initial term of Mr. Shannon’s employment was scheduled to expire on the third anniversary of the effective date (which was December 15, 2024), subject to automatic renewal for successive one-year periods unless either party provides at least 90 days’ notice of non-renewal. A notice of non-renewal was not provided by either party. The agreement provides for an initial annual base salary of $1,274,000 for Mr. Shannon (subject to annual review by our compensation committee for possible increase and currently $1,386,000 for fiscal 2025) and for target and maximum annual bonuses equal to 100% and 200% of base salary. The actual amount of any bonus that Mr. Shannon earns will be determined by our compensation committee in accordance with the terms of the Company’s annual incentive plan, with overall corporate performance goals the same as for other senior executives. Under the terms of the employment agreement, Mr. Shannon is entitled to participate in all employee benefit plans made available to executive officers generally, reimbursement of reasonable business expenses, and four weeks of vacation per year (or such greater vacation benefits as may be provided to other senior executives). In addition, under the Company’s Corporate Aircraft Policy, Mr. Shannon is entitled to use the Company’s aircraft for non-business purposes in accordance with the provisions of the policy, for up to 77 hours per year in the aggregate. The agreement provides for severance benefits on termination of employment by the Company without “cause” or by Mr. Shannon for “good reason” (as such terms are defined in the agreement), consisting of the following: an amount equal to the sum of the executive’s base salary plus target bonus, payable in equal monthly installments over 12 months; the annual bonus for the fiscal year of termination, determined based on actual performance, as prorated based on the number of days employed in the year; and • payment or reimbursement of premiums for continued health plan coverage for up to 18 months. However, if the termination occurs during the “change in control period” (as defined in the agreement), the severance benefits consist of the following: • an amount equal to two times the sum of the executive’s base salary plus target bonus, payable in a lump sum; • the annual bonus for the fiscal year of termination, determined based on actual performance (but not less than the target bonus), as prorated based on the number of days employed in the year; • fully accelerated vesting of all equity awards; and • payment or reimbursement of premiums for continued health plan coverage for up to 18 months. These severance benefits are subject to Mr. Shannon’s execution and non-revocation of a mutual release of claims in the form attached to the agreement, and his not materially breaching the restrictive covenants in the agreement (including confidentiality, non-competition, invention assignment and non-solicitation of customers, employees and consultants).

  10. Employment Agreement with Mr. Lavan

    Employment Agreement with Mr. Lavan We entered into an amendment to our employment agreement with Mr. Lavan, our Chief Financial Officer and Treasurer, on May 7, 2025. Under the amended agreement, Mr. Lavan’s annual base salary was increased to $725,000, subject to annual review by our compensation committee, and the term of the agreement was extended by two-years (ending May 2027). Under the terms of the employment agreement, as amended, Mr. Lavan is entitled to participate in all employee benefit plans made available to executive officers generally, including our long-term incentive compensation plan, and reimbursement of reasonable business expenses. Mr. Lavan’s employment agreement provides for severance benefits on termination of employment by the Company without “cause” or by him for “good reason” (as such terms are defined in the agreement), consisting of the following: • an amount equal to his base salary, at the rate in effect on the date of termination, payable in equal monthly installments over 12 months; and • payment or reimbursement of premiums for continued health plan coverage for up to 12 months. However, if the termination occurs during the “change in control period” (as defined in the agreement), the 12 months of base salary is payable in a lump sum (rather than in monthly installments over 12 months). These severance benefits are subject to Mr. Lavan’s execution and non-revocation of a release of claims in a form provided by the Company following the last day of employment, and his not materially breaching restrictive covenants relating to confidentiality, intellectual property, cooperation, non-competition, and non-solicitation of customers, employees and agents.

  11. Employment Agreement with Mr. Ekster

    Employment Agreement with Mr. Ekster We entered into an employment agreement with Mr. Ekster, our President, on November 6, 2024. The agreement provides for an initial base salary of $725,000 and is subject to annual review. The term of Mr. Ekster’s employment is two years (ending in November 2026). Pursuant to the agreement, Mr. Ekster’s target annual bonus must be a minimum of 50% of his annual base salary, subject to a final determination by the compensation committee; and he is also eligible to participate in our savings, retirement and welfare plans and long-term incentive plan in accordance with their terms. Mr. Ekster’s employment agreement provides for severance benefits on termination of employment by the Company without “cause” or by him for “good reason” (as such terms are defined in the agreement), consisting of the following: an amount equal to his base salary, at the rate in effect on the date of termination, payable in equal monthly installments over 12 months; and However, if the termination occurs during the “change in control period” (as defined in the agreement), the 12 months of base salary is payable in a lump sum (rather than in monthly installments over 12 months). These severance benefits are subject to Mr. Ekster’s execution and non-revocation of a release of claims in a form provided by the Company following the last day of employment, and his not materially breaching restrictive covenants relating to confidentiality, intellectual property, cooperation, non-competition, and non-solicitation of customers, employees and agents.

  12. Stock Options

    Stock Options

  13. Mr. Shannon

    Mr. Shannon In accordance with his employment agreement, on December 15, 2021, Mr. Shannon received two nonqualified options, each of which was granted pursuant to the Company’s 2021 Omnibus Incentive Plan (the “Incentive Plan”) and an option award agreement. These include an initial option (the “Initial Option”) and an option (the “Reallocated Option”) determined by reference to certain options that were forfeited before the closing date under the 2017 Bowlmor AMF Corp. Stock Incentive Plan. The Initial Option relates to shares of Class A Common Stock, and the Reallocated Option relates to shares of Class B Common Stock. The number of shares subject to the Initial Option is 6,781, 250. The number of shares subject to the Reallocated Option is 482,784. Each option expires on December 15, 2031 or, if earlier, 90 days after termination of employment (or the first anniversary of termination due to death or disability). Mr. Shannon’s employment agreement provides that he is not eligible for additional compensatory grants pursuant to the Company’s long-term equity incentive program until December 15, 2026. Each Initial Option originally consisted of five tranches, with an equal number of shares subject to each tranche. The per share exercise price and the vesting schedule for each tranche are as follows: • Tranche 1: $10 exercise price, vesting in one-third installments on each of the first, second and third anniversaries of the grant date. • Tranche 2: $12 exercise price, vesting in one-third installments on each of the second, third and fourth anniversaries of the grant date. • Tranche 3: $14 exercise price, vesting in one-third installments on each of the third, fourth and fifth anniversaries of the grant date. • Tranche 4: $16 exercise price, vesting in one-third installments on each of the fourth, fifth and sixth anniversaries of the grant date. • Tranche 5: $18 exercise price, vesting in one-third installments on each of the fifth, sixth and seventh anniversaries of the grant date. If, during the change in control period, Mr. Shannon’s employment is terminated by the Company without cause or by him for good reason, his Initial Option will fully vest. On all other terminations of employment, any unvested portion of the Initial Option will be forfeited (and if the termination is for cause, the vested portion of the Initial Option will also be forfeited). Each Reallocated Option has a per share exercise price of $10 and is fully vested and exercisable from the grant date.

  14. Mr. Lavan

    Mr. Lavan Pursuant to Mr. Lavan’s employment agreement, he received a nonqualified option (the “2023 Option”), which was granted pursuant to the Incentive Plan and an option award agreement, to purchase 444,115 shares of Class A Common Stock, consisting of three tranches with an equal number of shares subject to each tranche. The per share exercise price and the vesting schedule for each tranche are as follows: Tranche 1: $15.33 exercise price, vesting in one-half installments on each of the first and second anniversaries of the grant date. Tranche 2: $17.33 exercise price, vesting in one-half installments on each of the first and second anniversaries of the grant date. • Tranche 3: $19.83 exercise price, vesting in one-half installments on each of the first and second anniversaries of the grant date. The 2023 Option has vested in accordance with their terms. On November 4, 2024, Mr. Lavan received a nonqualified option (the “BL Nov. 2024 Option”), which was granted pursuant to the Incentive Plan and an option award agreement, to purchase 75,410 shares of Class A Common Stock at an exercise price of $10.38, vesting in one-third installments on each of the first, second, and third anniversaries of the grant date. If, during the change in control period, Mr. Lavan’s employment is terminated by the Company without cause (and other than on account of his death or disability) the BL Nov. 2024 Option will fully vest and become exercisable. On all other terminations of employment, any unvested portion of the BL Nov. 2024 Option will be forfeited (and if the termination is for cause, the vested portion of the BL Nov. 2024 Option will also be forfeited).

  15. Mr. Ekster

    Mr. Ekster Mr. Ekster received a nonqualified option concurrent with his appointment as President of Lucky Strike Entertainment, which was granted pursuant to the Incentive Plan and an option award agreement, to purchase 154,815 shares of Class A Common Stock, consisting of three tranches with an equal number of shares subject to each tranche. The per share exercise price and the vesting schedule for each tranche are as follows: • Tranche 1: $15.41 exercise price, vesting in one-third installments on each of the first, second, and third anniversaries of the grant date. • Tranche 2: $17.91 exercise price, vesting in one-third installments on each of the first, second, and third anniversaries of the grant date. • Tranche 3: $20.41 exercise price, vesting in one-third installments on each of the first, second, and third anniversaries of the grant date. On November 4, 2024, Mr. Ekster received a nonqualified option, which was granted pursuant to the Incentive Plan and an option award agreement, to purchase 87,476 shares of Class A Common Stock at an exercise price of $10.38, vesting in one-third installments on each of the first, second, and third anniversaries of the grant date. If, during the change in control period, Mr. Ekster’s employment is terminated by the Company without cause, his options will fully vest and become exercisable. On all other terminations of employment, any unvested portion of the options will be forfeited (and if the termination is for cause, the vested portion of the option will also be forfeited).

  16. Mr. Ekster

    Mr. Ekster Prior to his appointment as President, Mr. Ekster was granted awards of restricted stock units (“Ekster RSUs”), performance stock units (“Ekster PSUs”) and restricted shares under the Incentive Plan and individual award agreements. The awards are scheduled to vest subject to Mr. Ekster’s continued employment for a specified period and, in the case of the Ekster PSUs and restricted shares, achievement of a specified share price performance goal. If Mr. Ekster’s employment is terminated by the Company without cause (other than during the 24-month period after a change in control) or on account of his death or disability, a prorated portion of the unvested Ekster RSUs or Ekster PSUs will vest as of such termination (and the remaining unvested portion of the awards will be forfeited). If Mr. Ekster’s employment is terminated by the Company without cause during the 24-month period after a change in control, the then-unvested Ekster RSUs or Ekster PSUs will fully vest as of such termination. If an Acceleration Event (as defined in the Business Combination Agreement) occurs on or prior to December 15, 2026, the restricted shares will fully vest as of the date of the Acceleration Event. However, if the Acceleration Event is a Change of Control (as defined in the Business Combination Agreement), the restricted shares will only vest if the value of the consideration received by shareholders in the Change of Control equals or exceeds the applicable share price performance goal. On September 9, 2024, Mr. Ekster was granted 10,889 RSUs, which each represents a contingent right to receive one share of Class A Common Stock. These RSUs vested on the first anniversary of their grant date. On November 4, 2024 Mr. Ekster was granted 43,654 RSUs, which each represents a contingent right to receive one share of Class A Common Stock (the “LE Nov. 2024 RSUs”), and PSUs with a target payout of 87,307 shares of Class A Common Stock (the “LE Nov. 2024 PSUs”). The LE Nov. 2024 RSUs are scheduled to vest in one-third installments on the first, second, and third anniversaries of their grant date. If Mr. Ekster’s employment is terminated by the Company without cause (and other than on account of his death or disability) during the change in control period, all unvested LE Nov. 2024 RSUs will vest as of such termination. The LE Nov. 2024 PSUs will vest, if at all, on November 4, 2027, based on the Company’s results for the applicable performance metric, which is relative total stockholder return. The number of PSUs that may be earned ranges from 0% of Mr. Ekster’s target award (if the threshold levels of performance are not achieved) to 200% of the target award (if the maximum levels are achieved or exceeded). Each earned and vested LE Nov. 2024 PSU will be settled for one share of our common stock. If a change in control occurs at any time prior to the vesting date of the LE Nov. 2024 PSUs, the performance condition of the LE Nov. 2024 PSUs will be deemed to be achieved following such change of control and the PSUs will vest if the service condition is achieved following the change in control. If Mr. Ekster’s employment is terminated by the Company without cause (and other than on account of his death or disability) during the change in control period, the service condition of the LE Nov. 2024 PSUs will be deemed to be achieved as of such termination and the LE Nov. 2024 PSUs will vest immediately based on deemed achievement of the performance condition at target level performance.

  17. Mr. Lavan

    Mr. Lavan On September 9, 2024, Mr. Lavan was granted 14,915 RSUs, which each represents a contingent right to receive one share of Class A Common Stock. These RSUs vested on the first anniversary of their grant date. On November 4, 2024 Mr. Lavan was granted 37,632 RSUs, which each represents a contingent right to receive one share of Class A Common Stock (the “BL Nov. 2024 RSUs”), and PSUs with a target payout of 75,265 shares of Class A Common Stock (the “BL Nov. 2024 PSUs”). The BL Nov. 2024 RSUs are scheduled to vest in one-third installments on the first, second, and third anniversaries of their grant date. If Mr. Lavan’s employment is terminated by the Company without cause (and other than on account of his death or disability) during the change in control period, all unvested BL Nov. 2024 RSUs will vest as of such termination. The BL Nov. 2024 PSUs will vest, if at all, on November 4, 2027, based on the Company’s results for the applicable performance metric, which is relative total stockholder return. The number of BL Nov. 2024 PSUs that may be earned ranges from 0% of Mr. Lavan’s target award (if the threshold levels of performance are not achieved) to 200% of the target award (if the maximum levels are achieved or exceeded). Each earned and vested BL Nov. 2024 PSU will be settled for one share of our common stock. If a change in control occurs at any time prior to the vesting date of the BL Nov. 2024 PSUs, the performance condition of the BL Nov. 2024 PSUs will be deemed to be achieved following such change of control and the PSUs will vest if the service condition is achieved following the change in control. If Mr. Lavan’s employment is terminated by the Company without cause (and other than on account of his death or disability) during the change in control period, the service condition of the BL Nov. 2024 PSUs will be deemed to be achieved as of such termination and the BL Nov. 2024 PSUs will vest immediately based on deemed achievement of the performance condition at target level performance. For more information about Mr. Ekster’s and Mr. Lavan’s RSU, PSU and restricted share awards, see the “Outstanding Equity Awards at Fiscal Year End” table below.

  18. 2025 Short-Term Incentive Awards

    2025 Short-Term Incentive Awards The Annual Incentive Plan (the “Annual Plan”) provides cash incentives to named executive officers based on attainment of a Company EBITDA performance target. Each of our named executive officers was eligible for an annual short-term incentive award for fiscal 2025. The target short-term incentive opportunity for each of our named executive officers for fiscal 2025 under the Annual Plan was as follows:

  19. 2025 Short-Term Incentive Awards

    | Named Executive Officer | Target Annual Incentive as a Percentage of Annual Base Salary | | Thomas F. Shannon | 125% | | Lev Ekster | 125% | | Robert M. Lavan | 125% |

  20. 2025 Short-Term Incentive Awards

    The target short-term incentive opportunity for our Company EBITDA performance target for each of our named executive officers for fiscal 2025 under the Annual Plan was as follows:

  21. 2025 Short-Term Incentive Awards

    | | Threshold | | Target | | Maximum | | | Named Executive Officer | Percentage of EBITDA Performance Goal | Payout as a Percentage of Target | Percentage of EBITDA Performance Goal | Payout as a Percentage of Target | Percentage of EBITDA Performance Goal | Payout as a Percentage of Target | | Thomas F. Shannon | 85% | 25% | 100% | 100% | 125% | 200% | | Lev Ekster | 85% | 25% | 100% | 100% | 125% | 200% | | Robert M. Lavan | 85% | 25% | 100% | 100% | 125% | 200% |

  22. 2025 Short-Term Incentive Awards

    The actual level of achievement of the EBITDA goals for fiscal 2025 was 90%. The compensation committee approved a final Annual Plan payout to the named executive officers of 53% of target. The table below summarizes the final Annual Plan payouts to our current named executive officers for fiscal 2025:

  23. 2025 Short-Term Incentive Awards

    | Named Executive Officer | Base Salaryx | Target Incentivex | EBITDA Payout Factor | = | Final Payout | | Thomas F. Shannon | $1,386,000 | 125% | 53% | | $922,000 | | Lev Ekster | $725,000 | 125% | 53% | | $482,000 | | Robert M. Lavan | $725,000 | 125% | 53% | | $482,000 |

  24. 2025 Long-Term Incentive Awards

    2025 Long-Term Incentive Awards The compensation committee met on November 4, 2024 to determine 2025 long-term incentive awards. When making the awards, the compensation committee first determined the total grant date value of the award for each named executive officer, other than Mr. Shannon who by the terms of his employment agreement is not eligible for new long-term incentive awards until December 15, 2026, and then delivered that value in three components: PSUs (50%), RSUs (25%), and stock options (25%), assuming target-level achievement of performance goal for PSUs, as set forth in the table below. The terms of each type of long-term incentive award are set forth above, under “Stock Options” and “Stock Units and Restricted Stock.”

  25. 2025 Long-Term Incentive Awards

    | Named Executive Officer | PSUs | RSUs | Stock Options | Total | | Lev Ekster | $906,247 | $453,129 | $453,255 | $1,812,631 | | Robert M. Lavan | $781,251 | $390,620 | $390,735 | $1,562,606 |

  26. Equity Award Timing Policies

    Equity Award Timing Policies The Company has historically clustered quarterly Board and Board committee meetings around the release of periodic financial results to facilitate the Audit Committee’s or the Board’s, as the case may be, timely approval of such financial results prior to their public announcement. The Company has also historically granted long-term incentive awards, including stock options, to employees close in time to the end of the calendar year. As a result, specifically with respect to the financial results for the first quarter of the fiscal year, which are typically announced in November, the compensation committee may meet to approve long-term incentive awards on or around the same date that the Company announces its quarterly financial results. The compensation committee does not take into account material non-public information when determining the timing or terms of long-term incentive awards, nor do we time disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. During the fiscal year ended June 29, 2025, consistent with our historical timing on annual long-term incentive award grants as described above, the compensation committee granted stock options to certain of our named executive officers within four business days prior to our earnings release for the first quarter of fiscal 2025, i.e., we made our annual long-term incentive award grants and released earnings for our first quarter of fiscal 2025 on November 4, 2024. As required by SEC rules, we are providing the following tabular disclosure regarding the timing of such stock option grants.

  27. Equity Award Timing Policies

    | Name | Grant date | Number of securities underlying the award | Exercise price of the award ($/Sh) | Grant date fair value of the award | Percentage change in the closing market price of the securities underlying the award between the trading day ending immediately prior to the disclosure of material nonpublic information and the trading day beginning immediately following the disclosure of material nonpublic information | | Lev Ekster | 11/4/2024 | 87,476 | $10.38 | $453,255 | 11.9% | | Robert M. Lavan | 11/4/2024 | 75,410 | $10.38 | $390,735 | 11.9% |

  28. Summary Compensation Table

    Summary Compensation Table The following table sets forth information regarding the compensation of our named executive officers for the fiscal years ended June 29, 2025 and June 30, 2024.

  29. Summary Compensation Table

    | Name and Principal Position | Year | Salary ($)(1) | Bonus ($) | Stock Awards ($)(2) | Option Awards ($)(3) | Non-Equity Incentive Plan Compensation ($)(4) | All Other Compensation ($)(5) | Total ($) | | Thomas F. Shannon Chairman and Chief Executive Officer | 2025 | 1,386,000 | — | — | — | 922,000 | 181,551 | 2,559,551 | | | 2024 | 1,386,000 | — | — | — | 1,489,950 | 108,921 | 2,984,871 | | Lev Ekster President | 2025 | 725,000 | | 1,026,026 | 453,255 | 482,000 | 17,598 | 2,703,879 | | | 2024 | 684,504 | 25,000 | — | 808,310 | 222,457 | 15,924 | 1,756,195 | | Robert M. Lavan Chief Financial Officer and Treasurer | 2025 | 640,385 | — | 945,305 | 390,735 | 482,000 | 18,963 | 2,477,388 | | | 2024 | 625,000 | — | — | — | 304,688 | 15,274 | 994,962 |

  30. Summary Compensation Table

    (1) The amount reported for fiscal 2025 and fiscal 2024 for each of Mr. Shannon, Mr. Ekster, and Mr. Lavan reflects their then current base salary, except that the amount reported for Mr. Ekster for fiscal 2024 is the time-weighted average of the base salaries for his current and prior roles based on his start date as President of January 15, 2024 and the amount reported for Mr. Lavan for fiscal 2025 is the time-weighted average of his base salary before and after the amendment of his employment agreement on May 7, 2025. (2) Amounts reflect the aggregate grant date fair value of time-based restricted stock unit awards and/or performance stock unit awards (as applicable) granted in the relevant fiscal year computed in accordance with Accounting Standards Codification Topic 718, “Compensation — Stock Compensation,” or ASC 718. Assumptions used in the calculation of these amounts in fiscal 2025 are included in Note 15 to our audited financial statements for the fiscal year ended June 29, 2025, included in our Annual Report on Form 10-K. For performance stock units granted to our named executive officers in 2025, the amount reported in the table above is based on the probable outcome of the performance conditions associated with the awards as of the grant date. The grant date fair value of the performance shares, made in the form of performance stock units, granted to each of our named executive officers in 2025, assuming the highest level of achievement of the performance conditions, was $1,812,493 for Mr. Ekster and $1,562,501 for Mr. Lavan (see also above under “Stock Units and Restricted Shares”). (3) The amounts reported reflect the aggregate grant date value of the stock options granted to each of Mr. Ekster and Mr. Lavan under the Incentive Plan, as calculated in accordance with ASC 718. Assumptions used in calculating these amounts are described in Note 15 of our audited financial statements for the fiscal year ended June 29, 2025, included in our fiscal 2025 Annual Report on Form 10-K (see also above under “Stock Options”). (4) Amounts for fiscal 2025 reflect amounts paid in September 2025 under the Annual Plan, as applicable to the named executive officer, as approved by the compensation committee in August 2025. See above under “Executive — 2025 Compensation Determinations — 2025 Short-Term Incentive Awards.” The amounts reported for fiscal 2025 for each executive reflect payments for short- and long-term disability benefits, medical and life insurance premiums, and imputed taxable income from life insurance policy coverage. For Mr. Shannon, the amounts for fiscal 2025 also reflect personal usage of the Company’s aircraft of $154,324.15, under the Company’s Corporate Aircraft Policy, in which Mr. Shannon is entitled to use the Company’s aircraft for non-business purposes in accordance with the provisions of the policy, for up to 77 hours for fiscal 2025. The amount of incremental cost for personal use of the aircraft is determined by totaling the incremental variable costs for each personal flight which costs include trip-related crew hotels, lodging and ground transportation, in-flight food and beverages, landing and ground handling fees, hangar or aircraft parking, trip-specific insurance, customs, permits & fees obtained for the specific flight, fuel, and other smaller variable costs. For the purposes of calculating incremental costs, we include the variable costs of any deadhead flights made in connection with personal travel. Mr. Shannon is required to pay his own taxes on imputed taxable income resulting from personal use of our aircraft.

  31. Outstanding Equity Awards at Fiscal Year End

    Outstanding Equity Awards at Fiscal Year End The following table provides information about the outstanding equity awards held by our named executive officers as of June 29, 2025. Vesting is subject to the named executive officer’s continued service with us through the applicable vesting date.

  32. Outstanding Equity Awards at Fiscal Year End

    | | | Option Awards | | | | Stock Awards | | | | | Name | Grant Date | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable | Option Exercise Price ($) | Option Expiration Date | Number of shares or units of stock that have not vested (#) | Market value of shares or units of stock that have not vested ($)(1) | Equity incentive plan awards: Number of unearned shares, units or other rights that have not vested (#)(2) | Equity incentive plan awards: Market or payout value of unearned shares, units or other rights that have not vested ($)(1)(2) | | Thomas F. Shannon(23) | 1/7/2020 | 3,563,684(3) | | 4.13 | 01/07/2030 | | | | | | | 1/7/2020 | 12,237,385(3) | | 7.92 | 01/07/2030 | | | | | | | 12/15/2021 | 482,784(4) | | 10.00 | 12/15/2031 | | | | | | | 12/15/2021 | 1,356,250(5) | | 10.00 | 12/15/2031 | | | | | | | 12/15/2021 | 904,166(6) | 452,084 | 12.00 | 12/15/2031 | | | | | | | 12/15/2021 | 452,083 | 904,167(7) | 14.00 | 12/15/2031 | | | | | | | 12/15/2021 | | 1,356,250(8) | 16.00 | 12/15/2031 | | | | | | | 12/15/2021 | | 1,356,250(9) | 18.00 | 12/15/2031 | | | | | | Lev Ekster | 12/15/2021 | | | | | | | 2,071(10) | 18,908 | | | 1/2/2023 | | | | | 840(11) | 7,669 | | | | | 1/2/2023 | | | | | | | 840(12) | 7,669 | | | 1/12/2024 | 17,201 | 34,404(13) | 15.41 | 1/12/2034 | | | | | | | 1/12/2024 | 17,201 | 34,404(13) | 17.91 | 1/12/2034 | | | | | | | 1/12/2024 | 17,201 | 34,404(13) | 20.41 | 1/12/2034 | | | | | | | 9/9/2024 | | | | | 10,889(14) | 99,417 | | | | | 11/4/2024 | | 87,476(15) | 10.38 | 11/4/2034 | | | | | | | 11/4/2024 | | | | | 43,654(16) | 398,561 | | | | | 11/4/2024 | | | | | | | 87,307(17) | 797,113 | | Robert M. Lavan | 5/11/2023 | 148,038(18) | | 15.33 | 5/11/2033 | | | | | | | 5/11/2023 | 148,039(18) | | 17.33 | 5/11/2033 | | | | | | | 5/11/2023 | 148,038(18) | | 19.83 | 5/11/2033 | | | | | | | 9/9/2024 | | | | | 14,915(19) | 136,174 | | | | | 11/4/2024 | | 75,410(20) | 10.38 | 11/4/2034 | | | | | | | 11/4/2024 | | | | | 37,632(21) | 343,580 | | | | | 11/4/2024 | | | | | | | 75,265(22) | 687,169 |

  33. Outstanding Equity Awards at Fiscal Year End

    (1) The values shown equal the number of shares or units multiplied by $9.13, the closing price of a share of our common stock on June 29, 2025, as reported on the NYSE. (2) The number of shares and the payout value reported reflect payout assuming target performance is achieved. These options were granted under the Bowlmor AMF Corp. 2017 Stock Incentive Plan on January 7, 2020. Pursuant to the Business Combination Agreement, the options became fully vested on the closing date of the Business Combination. These Reallocated Options were granted under the Incentive Plan on December 15, 2021 and were fully vested at grant (see above under “Equity Incentive Awards”). (5) These Initial Options were granted under the Incentive Plan on December 15, 2021. The first, second, and third tranches of these options vested on the first, second, and third anniversaries of the grant date, respectively (see above under “Stock Options”). (6) These Initial Options were granted under the Incentive Plan on December 15, 2021. The first and second installments of these options vested on the second and third anniversaries of the grant date, and the remaining unvested options are scheduled to vest on the fourth anniversary of the grant date (see above under “Stock Options”). (7) These Initial Options were granted under the Incentive Plan on December 15, 2021. The first installment of these options vested on the third anniversary of the grant date, and the remaining unvested options are scheduled to vest in equal installments on the fourth and fifth anniversaries of the grant date (see above under “Stock Options”). (8) These Initial Options were granted under the Incentive Plan on December 15, 2021 and are scheduled to vest in one-third installments on the fourth, fifth and sixth anniversaries of the grant date (see above under “Stock Options”). (9) These Initial Options were granted under the Incentive Plan on December 15, 2021 and are scheduled to vest in one-third installments on the fifth, sixth and seventh anniversaries of the grant date (see above under “Stock Options”). (10) These restricted shares were granted pursuant to the Business Combination Agreement in connection with the consummation of the Business Combination on December 15, 2021 and will vest if the Company’s closing share price of the Class A Common Stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20-trading day period ending on or prior to December 15, 2026. (11) These RSUs were granted under the Incentive Plan on January 2, 2023. The first and second installment vested on January 2, 2024 and January 2, 2025, respectively, and the third installment is scheduled to vest on January 2, 2026 (see above under “Stock Units and Restricted Shares”). (12) These PSUs were granted under the Incentive Plan on January 2, 2023 and are scheduled to vest on January 2, 2026, if the Company’s closing share price of the Class A Common Stock equals or exceeds $15.35 per share for any consecutive 90-day period ending on or prior to the scheduled vesting date (see above under “Stock Units and Restricted Shares”). (13) These options were granted under the Incentive Plan on January 12, 2024. The first installment of these options vested on the first anniversary of the grant date, and the remaining unvested options are scheduled to vest in equal installments on the second and third anniversaries of the grant date (see above under “Stock Options”). (14) These RSUs were granted under the Incentive Plan on September 9, 2024 and vested on September 9, 2025 (see above under “Stock Units and Restricted Shares”). (15) These options were granted under the Incentive Plan on November 4, 2024 and are scheduled to vest in one-third installments on the first, second, and third anniversaries of the grant date (see above under “Stock Options”). (16) These RSUs were granted under the Incentive Plan on November 4, 2024 and are scheduled to vest in one-third installments on the first, second, and third anniversaries of the grant date (see above under “Stock Units and Restricted Shares”). (17) These PSUs were granted under the Incentive Plan on November 4, 2024 and are scheduled to vest on November 4, 2027, if the Company’s relative total stockholder return achieves threshold performance of the 25th percentile (see above under “Stock Units and Restricted Shares”). (18) Each of these three tranches of this option was granted under the Incentive Plan on May 11, 2023. This first and second installments of each tranche of this option vested in equal installments on the first and second anniversaries of the grant date, respectively (see above under “Stock Options”). These RSUs were granted under the Incentive Plan on September 9, 2024 and vested on September 9, 2025 (see above under “Stock Units and Restricted Shares”). These options were granted under the Incentive Plan on November 4, 2024 and are scheduled to vest in one-third installments on the first, second, and third anniversaries of the grant date (see above under “Stock Options”). (21) These RSUs were granted under the Incentive Plan on November 4, 2024 and are scheduled in one-third installments on the first, second, and third anniversaries of the grant date (see above under “Stock Units and Restricted Shares”). (22) These PSUs were granted under the Incentive Plan on November 4, 2024 and are scheduled to vest on November 4, 2027, if the Company’s relative total stockholder return achieves threshold performance of the 25th percentile (see above under “Stock Units and Restricted Shares”). (23) As of June 29, 2025, (a) Mr. Shannon held non-compensatory restricted stock units with respect to 4,917,934 shares of Class B Common Stock. These restricted stock units (see below under “Beneficial Ownership of Securities”) were granted on or after December 15, 2021 and will vest if specified share price vesting conditions are met by December 15, 2026.

  34. Compensation of Directors

    Compensation of Directors Under the Company’s Non-Employee Director Compensation Policy, which provides each non-employee director with compensation for service on the Board in the form of annual cash retainers and equity awards. The annual cash retainers are as follows:

  35. Compensation of Directors

    | Retainer | Amount | | Basic retainer for each Non-Employee Director | $85,000 | | Audit Committee Chair | $25,000 | | Compensation Committee Chair | $20,000 | | Nomination and Corporate Governance Committee Chair | $15,000 | | Lead Independent Director (if applicable) | $40,000 |

  36. Compensation of Directors

    The retainers are payable quarterly in arrears unless the director elects to defer receipt of the retainers to the earlier of separation from service or a change in control of the Company. Directors may also elect to receive their retainers in shares of Class A Common Stock, with the shares delivered either currently or on a deferred basis. Equity awards are granted to directors pursuant to the Incentive Plan in the form of restricted stock units (“RSUs”) that are settled in shares of Class A Common Stock. For fiscal 2025, each director received an annual grant of RSUs at the annual meeting of stockholders of the Company with a grant date total fair value of $130,000. The number of shares underlying each grant is equal to the grant date total value divided by the Fair Market Value (as defined in the Incentive Plan) per share of Class A Common Stock on the grant date. The RSUs vest on the first anniversary of the grant date or, if earlier, the next annual meeting of stockholders following the grant date. Vesting of the awards accelerates on a change in control of the Company or on the director’s death or disability. The shares are delivered to the director on vesting unless the director elects to defer receipt of the shares to the earlier of separation from service or a change in control of the Company. The compensation committee assessed non-employee director compensation in 2025 based on input from Mercer, the independent compensation consulting firm serving the compensation committee, and taking into account compensation paid to non-employee directors at companies in our peer group. Based on its most recent review, in May 2025, the compensation committee decided not to make any changes to non-employee director compensation. This decision was based, in part, on the recommendation of our external compensation consultant.

  37. Director Compensation Table

    Director Compensation Table The following table sets forth information regarding the compensation for the members of our Board for their service on the Board for the fiscal year ended June 29, 2025. Mr. Shannon does not receive additional compensation for his Board service.

  38. Director Compensation Table

    | Name | Fiscal Year | Fees Earned ($) | Stock Awards ($)(1) | Total ($) | | Michael J. Angelakis(2) | 2025 | 100,000 | 130,000 | 230,000 | | Robert J. Bass | 2025 | 110,000 | 130,000 | 240,000 | | Sandeep Mathrani | 2025 | 85,000 | 130,000 | 215,000 | | Alberto Perlman | 2025 | 85,000 | 130,000 | 215,000 | | Rachael A. Wagner(2) | 2025 | 85,000 | 130,000 | 215,000 | | John A. Young | 2025 | 145,000 | 130,000 | 275,000 |

  39. Director Compensation Table

    (1) In accordance with our Non-Employee Director Compensation Program, restricted stock units were granted to Ms. Wagner and Messrs. Angelakis, Bass, Mathrani, Perlman, and Young, with a grant date of December 10, 2024 (10,727 restricted stock units each). Each restricted stock unit represents a contingent right to receive one share of Class A common stock and will vest on the date of Lucky Strike Entertainment Corporation’s next regular annual meeting, which will be held on December 9, 2025. Amounts reflect the aggregate grant date fair value of the restricted stock units at December 10, 2024 ($12.12 per share) computed in accordance with Accounting Standards Codification Topic 718, or ASC 718, excluding the impact of estimated forfeitures. Assumptions used in the calculation of these amounts in fiscal 2025 are included in Note 15 to our consolidated audited financial statements for the year ended June 29, 2025 included in Part II of our Annual Report on Form 10-K. Mr. Angelakis and Ms. Wagner have each (a) directed Lucky Strike Entertainment Corporation to pay their cash compensation for their Board service to Atairos Management, L.P. and (b) entered into an agreement with Lucky Strike Entertainment Corporation and Atairos Management, L.P that provides that each grant of RSUs that the director receives for Board service is automatically transferred and assigned to Atairos Management, L.P immediately after grant.