Luby’s board approves exec retention bonuses amid search for sale

The Luby’s Inc. (NYSE: LUB) board of directors approved retention bonuses, as well as severance agreements, for some executive officers as the Houston-based restaurant group pursues a sale of its operating divisions and assets.

The retention bonuses are designed to incentivize each recipient to complete the sale of Luby’s operations and assets, according to an Aug. 14 filing with the U.S. Securities and Exchange Commission. The company announced in early June that it would immediately pursue a…