Form 4: Red Robin CFO Sells Shares to Cover Tax Obligations After Stock Vesting

Red Robin's Chief Financial Officer, Joshua Todd Wilson, sold 5,954 shares to cover tax obligations following the vesting of restricted stock units.

Summary

• Joshua Todd Wilson, the Chief Financial Officer of Red Robin Gourmet Burgers Inc., sold 5,954 shares of common stock on November 14, 2024.
• The sale was executed to cover tax withholding obligations related to the vesting of 15,132 time-based restricted stock units.
• These restricted stock units were granted on November 14, 2022, under the company's 2017 Performance Incentive Plan.
• The transaction was approved by the issuer's Compensation Committee and is exempt from Section 16(b) of the Exchange Act.
• Following the transaction, Wilson beneficially owns 112,778 shares of Red Robin stock, which includes 73,600 unvested restricted stock units.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, especially when dealing with vesting of restricted stock units.
• The sale of shares to cover tax obligations is a standard practice and does not indicate any unusual activity compared to other companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
• The sale does not indicate any change in the company's financial health or future prospects.

Key Dates

Keywords

Red Robin, RRGB, CFO, Joshua Todd Wilson, stock sale, restricted stock units, tax withholding, insider trading, Form 4