Form 4: James C. Pappas Reports Acquisition of Red Robin Gourmet Burgers Stock and Grant of Restricted Stock Units

James C. Pappas, a director and 10% owner of Red Robin Gourmet Burgers Inc., reports the acquisition of shares and restricted stock units.

Summary

• James C. Pappas acquired 41,379 shares of Red Robin Gourmet Burgers Inc. common stock on May 22, 2025, at a price of $0.
• This acquisition was due to a grant of restricted stock units under the issuer's 2024 Performance Incentive Plan.
• Each restricted stock unit represents the contingent right to receive one share of the issuer's common stock upon vesting.
• The units are scheduled to vest on the later of (x) fifty weeks following the date of grant and (y) the Company's next annual meeting of stockholders.
• Following the reported transaction, Pappas beneficially owns 51,946 shares, including time-based restricted stock units subject to vesting and forfeiture restrictions.
• Pappas also disclaims beneficial ownership of 1,084,104 shares held by Managed Accounts of JCP Investment Management, LLC and 776,564 shares held by JCP Investment Partnership, LP, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting changes in stock ownership. It doesn't inherently convey positive or negative sentiment.

Positives

• Grant of restricted stock units to a director, aligning their interests with the company's performance.
• Increase in direct ownership of common stock by a director.

Future Outlook

The restricted stock units are scheduled to vest on the later of (x) fifty weeks following the date of grant and (y) the Company's next annual meeting of stockholders.

Management Comments

• The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or for any other purpose.

Industry Context

This filing is a routine disclosure of stock ownership changes by a company insider, which is common in the restaurant industry and publicly traded companies in general.

Comparison to Industry Standards

• Stock grants to directors are a common practice in publicly traded companies to align management's interests with shareholders.
• The vesting schedule of the restricted stock units (fifty weeks or next annual meeting) is fairly standard.
• Similar filings are made by insiders at companies like McDonald's (MCD), Starbucks (SBUX), and Chipotle (CMG) when they receive stock grants or exercise options.

Stakeholder Impact

• Shareholders: Informed about changes in ownership by a significant shareholder.
• Employees: No direct impact.

Key Dates

Keywords

Red Robin Gourmet Burgers Inc., RRGB, James C. Pappas, SEC Form 4, Beneficial Ownership, Restricted Stock Units, JCP Investment Management, JCP Investment Partnership