Form 4: Red Robin Director Anddria Varnado Reports Changes in Beneficial Ownership

Director Anddria Varnado reported the acquisition of 16,415 shares of Red Robin Gourmet Burgers Inc. through a grant of restricted stock units and the disposal of 0 shares.

Summary

• On May 23, 2024, Anddria Varnado, a director of Red Robin Gourmet Burgers Inc., reported changes in beneficial ownership.
• Varnado acquired 16,415 shares of common stock through 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.
• Varnado also disposed of 0 shares.
• Following the reported transactions, Varnado beneficially owns 38,983 shares of Red Robin Gourmet Burgers Inc., which includes 16,415 shares subject to vesting and forfeiture restrictions.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard disclosure of stock ownership changes. The acquisition of shares by a director is generally viewed as a slightly positive signal.

Positives

• The grant of restricted stock units aligns the director's interests with the company's performance.
• Increased share ownership by a director can be seen as a positive sign of confidence in the company's future.

Future Outlook

The restricted stock units vest on the later of fifty weeks from the grant date or the company's next annual meeting of stockholders.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates changes in the director's holdings of company stock.

Stakeholder Impact

• The change in beneficial ownership may have a minor impact on shareholders' perception of the company.
• The grant of restricted stock units could motivate the director to work towards the company's success.

Key Dates