Transactions with Related Parties In connection with an acquisition of restaurants from BKC in 2012 , CARROLS RESTAURANT GROUP , INC . issued to BKC 100 shares of Series A Convertible Preferred Stock which is convertible into 9,414,580 shares of CARROLS RESTAURANT GROUP , INC . 's Common Stock , which currently constitutes approximately 20.7 % of the outstanding shares of CARROLS RESTAURANT GROUP , INC . 's common stock on a fully diluted basis .