Piece of cake.

Calabasas Hills-based Cheesecake Factory Inc. reported last week that it was going to get some of the fat out--of the company's bottom-line.

The popular chain, alternately famous or notorious for plate-piling, will take a stock option charge estimated between $5 million and $6 million, a relatively minor amount. The penalty will result in a loss of between 6 cents and 8 cents from fourth-quarter earnings.

Cheesecake stock surged 8 percent on this news because analysts had expected a management shakeup, possibly including the departure of chief executive David Overton, highly respected for helming the chain through its long reign as a Wall Street darling.

Cheesecake also delayed filing third-quarter earnings due to an internal stock option probe, which still isn't complete.

"I think the reason the stock reacted favorably was the implied magnitude of the restatements is relatively minor and, although there was no commentary on whether any management changes will occur, the amount of the restatement would imply that a shakeup is unlikely," said Sharon Zackfia, an analyst with William Blair & Co.

Cheesecake is starting to rebound in a tough year. After taking a major hit during the summer's casual dining slump, when company stock fell to its 52-week low of $21.65 in August, from a high of $39.28 in February, sales have rebounded slightly and company stock closed at $28.55 Thursday.

"I wouldn't say sales have been robust," Zackfia said, "but they've been in line with the overall industry.

Staff reporter Emily Bryson York can be reached at [phone], ext. 235, or at [e-mail].