Form 4: Red Robin COO's Equity Transactions and New RSU Grant

Red Robin Gourmet Burgers' COO, Jesse Griffith, reported a grant of new phantom restricted stock units and non-discretionary sales and withholdings for tax obligations related to vested equity.

Summary

• Jesse Griffith, Chief Operations Officer of Red Robin Gourmet Burgers Inc. (RRGB), reported several equity transactions.
• On March 23, 2026, 839 shares of common stock were sold at $3.12 per share to cover tax withholding obligations and fees related to the vesting of 2,191 time-based restricted stock units granted on March 20, 2023.
• On March 24, 2026, 3,284 shares were withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of 8,621 time-based restricted stock units granted on March 24, 2025.
• Following these transactions, Jesse Griffith beneficially owns 38,826 shares of common stock, including 23,348 shares subject to vesting and forfeiture restrictions.
• A grant of 38,636 Phantom Restricted Stock Units (RSUs) was made on March 23, 2026, under the issuer's 2024 Performance Incentive Plan.
• Each Phantom RSU represents the contingent right to receive one share of common stock or its cash equivalent upon vesting, at the issuer's discretion.
• These Phantom RSUs are scheduled to vest in three equal installments on the first, second, and third anniversaries of the grant date.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive report, primarily due to the significant grant of new phantom restricted stock units, which aligns executive incentives, while acknowledging the routine, non-discretionary nature of the tax-related share disposals.

Positives

• The grant of 38,636 Phantom Restricted Stock Units aligns the Chief Operations Officer's incentives with long-term company performance.

Negatives

• A total of 839 shares were sold at $3.12 per share and 3,284 shares were withheld by the issuer to cover tax obligations, reducing the direct beneficial ownership of common stock.

Future Outlook

The 38,636 Phantom Restricted Stock Units granted on March 23, 2026, are scheduled to vest in three equal installments on the first, second, and third anniversaries of the grant date, indicating future equity compensation for the Chief Operations Officer.

Industry Context

StockSavvy.ai notes that Form 4 filings detailing executive equity transactions, including grants of restricted stock units and tax-related sales or withholdings, are routine disclosures in the publicly traded company landscape. These transactions reflect standard executive compensation practices and incentive alignment mechanisms within the restaurant industry.

Stakeholder Impact

• Shareholders: The grant of new equity incentives to a key executive like the COO can be seen as a positive for long-term alignment of management interests with shareholder value. The tax-related sales are routine and do not reflect a discretionary change in confidence.

Next Steps

• One-third of the 38,636 Phantom Restricted Stock Units are scheduled to vest on each of the first, second, and third anniversaries of the March 23, 2026 grant date.

Key Dates

Keywords

RRGB, Red Robin Gourmet Burgers, Insider Transaction, Form 4, Restricted Stock Units, Phantom RSUs, Equity Compensation, Executive Compensation